QRL Strikes Key Industry Partnerships, Fortifying Its Position As Quantum Computing Era Nears

Benzinga

Chinese researchers recently accomplished what they claim was the world's first successful quantum attack on popular encryption algorithms. While the first cohort of thousands of quantum computers isn't expected to come onto the scene until at least 2030, their problem-solving capabilities already appear to have become a reality. Some cutting-edge companies and projects like Quantum Resistant Ledger (QRL) already recognize the potential threats this technology could pose as it develops.

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00:00Chinese researchers recently claimed to have achieved the world's first quantum attack

00:05on popular encryption algorithms.

00:08Although quantum computers aren't expected to arrive until around 2030, their problem-solving

00:13abilities are already presenting a tangible threat.

00:16Quantum-resistant ledger, QRL, is one of the few blockchain projects preparing for this

00:20new reality, as 99% of blockchains and cryptocurrencies are vulnerable to quantum computing attacks

00:27due to their reliance on quantum-insecure cryptography.

00:31To bolster its defenses, QRL has been building strategic partnerships.

00:36One of the most notable collaborations is with the PKI Consortium, an organization committed

00:41to the future of internet security.

00:43The consortium includes major players such as Dell, Visa, and Foxcrypto.

00:48QRL is not just a member but also a sponsor of the upcoming Post-Quantum Cryptography

00:52Conference in Austin, Texas, set for January 2025.

00:57This event will bring together industry leaders such as Google, IBM, and the National Institute

01:02of Standards and Technology to discuss post-quantum cryptography solutions.

01:06QRL is also partnering with the Linux Foundation's Post-Quantum Cryptography Alliance, PQCA,

01:14which focuses on developing open technologies for quantum resistance.

01:18Through this partnership, QRL joins industry giants like Amazon Web Services, Google, and

01:24NVIDIA to advance post-quantum cryptography and drive its adoption.

01:29QRL's participation in projects such as OpenQuantumSafe and PostQuantumCodePackage

01:35is central to building future-proof cryptographic infrastructure.

01:40Looking ahead to Q1 2025, QRL is preparing for the public release of its quantum-secure

01:46proof-of-stake POS network, currently in beta testing.

01:51This network, compatible with the Ethereum Virtual Machine, EVM, will allow developers

01:56to build on a layer-one blockchain that is quantum-secure from the ground up.

02:01As quantum computing advances, its implications for blockchain and crypto are significant.

02:08Those who fail to prepare could face vulnerabilities, but projects like QRL are positioning themselves

02:14at the forefront of quantum-resistant technology.

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