The Quantum Threat To Cryptocurrency: How QRL’s Quantum-Safe Blockchain Technology Could Be Poised To Revolutionize The Industry – Yahoo Finance
CHEYENNE, WY / ACCESSWIRE / May 19, 2023 / Cryptographic protocols that secure networks like Bitcoin and Ethereum are - for the time being - impervious to even the most advanced computers. However, imagine a near-future scenario where computers have advanced to such a level that current cryptographic standards become insufficient.
The Quantum Resistance Corporation, Friday, May 19, 2023, Press release picture
This potential danger arises from quantum computers, a cutting-edge technology that has the potential to compromise many of the encryption protocols used in cryptocurrencies today. Although quantum computers are in their infancy and not yet powerful enough to do so, experts predict that, if current trends continue, they could threaten blockchain networks by 2030.
Quantum Resistant Ledger (QRL) aims to address this doomsday threat as the world's first post-quantum store of value and decentralized communication network to proactively tackle the threat of advanced quantum computing. The following article will deep dive into the nature of the quantum threat, and explain how QRL could be positioned to transform the industry by providing a post-quantum solution.
Before delving into how QRL offers a solution to the quantum threat to cryptocurrency, it is important to understand how quantum computers work and the current risks associated with popular blockchains such as Ethereum and Bitcoin.
Quantum computers are a type of supercomputer with far superior processing power than classical computers. They are able to carry out many computations while simultaneously considering several different configurations - this makes them exponentially faster than traditional computers.
Over the past few years, quantum computing has shown significant progress in various fields, including AI, weather forecasting and medical research. However, in the wrong hands, quantum computing has the potential to pose a substantial risk to cybersecurity, and consequently, to cryptocurrencies as well.
Story continues
For example, Google's 54-qubit Sycamore processor completed a computation in 200 seconds that would have taken the most powerful classical computer in the world 10,000 years. According to a report by IBM, in theory, cryptographic protocols can be solved within a few hours with quantum computers.
Broadly speaking, traditional cryptocurrencies face two primary types of threats, which are:
Storage Attacks: An attack that targets individual wallet addresses, trying to break their security and steal the cryptocurrency stored in them.
Transit Attacks: An attack that focuses on taking control of all transactions happening in real-time on the network.
Bitcoin and Ethereum, the world's two largest cryptocurrencies, account for almost 60% of the industry's total market capitalization. Bitcoin as an asset functions like digital gold, providing a decentralized, immutable and secure store of value. Conversely, Ethereum is like a publicly shared computer network that enables developers to create applications on decentralized servers.
When it comes to storage attacks, Ethereum is at a higher risk than Bitcoin. A recent Deloitte study revealed that about 65% of all Ether is vulnerable to quantum attacks, significantly more than the 25% of vulnerable Bitcoin.
Transit attacks, though more severe, are also more challenging to execute. According to Mark Webber at the University of Sussex in the U.K., breaking this level of encryption would reportedly require a quantum computer with 1.9 billion qubits of power.
This number is staggering, especially when compared to IBM's most advanced quantum computer, which has only 127 qubits in comparison. Ethereum's creator, Vitalik Buterin, tweeted in 2019 that current speculations about quantum computing are as distant from real quantum computing as hydrogen bombs are from nuclear fusion. But rapid advancements in AI-assisted technology could be changing the outlook and accelerating the quantum timeline.
Traditional cryptographic methods such as RSA and elliptic curve cryptography (ECC) rely on computational complexity for security. However, this model is an ineffective long-term solution since quantum computers can solve these methods. QRL says it solves this vulnerability by creating cryptography based on problems that are believed to be resistant to quantum attacks, providing enhanced security in the quantum era.
One of the key components of QRL's cryptography is the eXtended Merkle Signature Scheme (XMSS). This is a unique mathematical function that is designed to allow for secure and efficient transaction authentication when taking into account the trends of quantum computers.
In addition to securing transactions, QRL leverages advanced techniques such as on-chain lattice key storage and layer-to-internode communication to secure communications on the blockchain.
Overall, although the advent of quantum technology raises concerns, the ongoing development of cryptographic encryption has the potential to surpass the progress of quantum computing.
As quantum computing remains in its nascent stages, investors and centralized organizations have the opportunity to transition to quantum-resistant cryptography. The situation is much different for decentralized blockchain technology, which post-quantum security analysts insist has a fatal and fundamentally unfixable flaw. QRL doesn't have this problem, they maintain. In any case, QRL seems to be at the vanguard of the post-quantum security frontier and well-positioned to offer a safe way for transactions and communications in a post-quantum world.
Featured Photo by Sunil Ray on Unsplash
Contact:
SOURCE: The Quantum Resistance Corporation
View source version on accesswire.com: https://www.accesswire.com/756041/The-Quantum-Threat-To-Cryptocurrency-How-QRLs-Quantum-Safe-Blockchain-Technology-Could-Be-Poised-To-Revolutionize-The-Industry
More here:
- Which Cryptocurrency Is Most Likely to 10x by 2030: Bitcoin, Ethereum, XRP, or Solana? - Yahoo Finance - October 8th, 2026 [October 8th, 2026]
- Maryland man found guilty of stealing $50 million in cryptocurrency - Washington Times - October 8th, 2026 [October 8th, 2026]
- Prediction: This Cryptocurrency Will Skyrocket in Price in 2027 and Make Some Investors Rich - The Motley Fool - October 8th, 2026 [October 8th, 2026]
- Prediction: This Cryptocurrency Will Skyrocket in Price in 2027 and Make Some Investors Rich - Yahoo Finance - October 8th, 2026 [October 8th, 2026]
- 1 Unstoppable Cryptocurrency to Buy Before It Soars Over 250%, According to Wall Street Analysts - The Motley Fool - October 8th, 2026 [October 8th, 2026]
- Cathie Wood Predicts This Cryptocurrency Could Surge 1,665% From Here - Yahoo Finance - October 8th, 2026 [October 8th, 2026]
- Six in 10 Cryptocurrency Investors Expect to Increase Their Holdings as Investors Consider Digital Assets Role in Wealth Building, Schwab Modern... - October 8th, 2026 [October 8th, 2026]
- Residents urging others to get informed about proposed rezoning and possible cryptocurrency mining - wbbjtv.com - October 8th, 2026 [October 8th, 2026]
- Cathie Wood Predicts This Cryptocurrency Could Surge 1,665% From Here - The Motley Fool - October 8th, 2026 [October 8th, 2026]
- Cryptocurrency ATM operator pushing back on proposed federal ban - Investigative Journalism Foundation - October 8th, 2026 [October 8th, 2026]
- How to top up a Pinco account with cryptocurrency: Instructions for USDT (TRC-20) and Bitcoin - nerdbot - October 8th, 2026 [October 8th, 2026]
- The New York Times. . President Trump launched his own cryptocurrency just days before his 2025 inauguration. The New York Times would like to hear... - October 8th, 2026 [October 8th, 2026]
- Greece Embraces Cryptocurrency Taxation Amidst Growing Investor Interest - OneSafe - October 8th, 2026 [October 8th, 2026]
- Store clerk stopped a cryptocurrency scammer again. - News 5 Cleveland WEWS - September 26th, 2026 [September 26th, 2026]
- Bitcoin's rebound puts crowded crypto shorts on alert (BTC-USD:Cryptocurrency) - Seeking Alpha - September 26th, 2026 [September 26th, 2026]
- What is a DAG-Based Cryptocurrency - and Why It Matters - HackerNoon - September 26th, 2026 [September 26th, 2026]
- Scammers busted buying real Rolex watches with fake cryptocurrency - NL Times - September 26th, 2026 [September 26th, 2026]
- Mapping the Market: Cryptocurrency ether makes its break - Reuters - September 24th, 2026 [September 24th, 2026]
- Bitcoin Is Providing You Clarity, Without The Act (Cryptocurrency:BTC-USD) - Seeking Alpha - September 24th, 2026 [September 24th, 2026]
- Opinion: A celebrity-endorsed cryptocurrency is almost five times as likely to be a scam - MarketWatch - September 24th, 2026 [September 24th, 2026]
- Bitcoin Is at Its Highest Price Since January. Strategy Buys the Cryptocurrency. - Barron's - September 24th, 2026 [September 24th, 2026]
- Advantages And Disadvantages Of Cryptocurrency In 2026 - Forbes - September 24th, 2026 [September 24th, 2026]
- City of Jackson takes action to ban cryptocurrency kiosks - WILX - September 24th, 2026 [September 24th, 2026]
- Efforts At Governance Across AI, Digital Privacy, and Cryptocurrency (Economic Policy Brief #196) - USRESIST NEWS - September 24th, 2026 [September 24th, 2026]
- Bitcoin Is at Its Highest Price Since January. Strategy Buys the Cryptocurrency - Moomoo - September 24th, 2026 [September 24th, 2026]
- Down 47% From Its All-Time High, This Is the Most Undervalued Cryptocurrency to Buy Right Now - Yahoo Finance - September 24th, 2026 [September 24th, 2026]
- Cryptocurrency Stocks To Add to Your Watchlist - September 22nd - MarketBeat - September 24th, 2026 [September 24th, 2026]
- Cryptocurrency Stocks To Consider - September 20th - MarketBeat - September 24th, 2026 [September 24th, 2026]
- Down 47% From Its All-Time High, This Is the Most Undervalued Cryptocurrency to Buy Right Now - The Motley Fool - September 24th, 2026 [September 24th, 2026]
- BlackRock scooped up over $120 million of this cryptocurrency in a week - finbold.com - September 20th, 2026 [September 20th, 2026]
- State of Ohio now accepts cryptocurrency - News 5 Cleveland WEWS - September 20th, 2026 [September 20th, 2026]
- Bitcoin is set to hit a key level by next year as fiscal worries prop up the cryptocurrency: VanEck - CNBC - September 20th, 2026 [September 20th, 2026]
- Bitcoin could be headed for $230,000 in less than a decade. Here are seven ways to value the cryptocurrency. - MarketWatch - September 20th, 2026 [September 20th, 2026]
- US Senate fails to advance sweeping cryptocurrency bill in blow for industry - Reuters - September 20th, 2026 [September 20th, 2026]
- US Senate fails to advance sweeping cryptocurrency bill in blow for industry - Yahoo Finance - September 20th, 2026 [September 20th, 2026]
- How Cryptocurrency Has Changed the Scamming Game - WKTV - September 20th, 2026 [September 20th, 2026]
- Senate fails to advance sweeping cryptocurrency bill in blow for industry - KSL News - September 20th, 2026 [September 20th, 2026]
- Cryptocurrency prices show mixed movements with notable gains in AVAX, ENA, and AR tokens. - Pluang - September 20th, 2026 [September 20th, 2026]
- New Cryptocurrency Picks Heat Up After Nasdaq Puts $100 Million Into Crypto, Pepeto Leads With Live Tools - StreetInsider - September 20th, 2026 [September 20th, 2026]
- San Diego aiming to be first city in California to target ATM cryptocurrency scams - San Diego Union-Tribune - September 17th, 2026 [September 17th, 2026]
- US seeks $61 million in cryptocurrency tied to Iran oil sales - Iran International - September 17th, 2026 [September 17th, 2026]
- Why the Cryptocurrency XRP Is Down Today - Yahoo Finance - September 17th, 2026 [September 17th, 2026]
- Poland lost $230 million in cryptocurrency trying to buy Venezuelan oil in 2023 USB drives with crypto handed directly to scammers - Tom's Hardware - September 17th, 2026 [September 17th, 2026]
- Cryptocurrency Bill Demise Schools Industry in Washingtons Ways - Bloomberg Government News - September 17th, 2026 [September 17th, 2026]
- The Clarity Act Fizzled in the Senate. Is Crypto Transparency a Pipe Dream? | Cryptocurrency - US News Money - September 17th, 2026 [September 17th, 2026]
- US Senate to Vote on Advancing Sweeping Cryptocurrency Bill - GV Wire - September 17th, 2026 [September 17th, 2026]
- Could Buying This Cryptocurrency Make You Rich? - Yahoo Finance - September 17th, 2026 [September 17th, 2026]
- Russia Makes Decision That Will Shake Up the Cryptocurrency Market: A New Era Begins for Bitcoin and Four Altcoins! - Cryptonews.net - September 17th, 2026 [September 17th, 2026]
- Cryptocurrency payments in iGaming: Key takeaways from SBC webinar - CoinGeek - September 17th, 2026 [September 17th, 2026]
- Senate Democrats block Clarity Act that would have set rules for cryptocurrency - Washington Times - September 17th, 2026 [September 17th, 2026]
- The U.S. Wants to Seize $61 Million in Cryptocurrency from the Sale of Iranian Oil to China - LIGA.net - September 17th, 2026 [September 17th, 2026]
- Katie Prices jailed husband offers to send GMB hosts 10k in cryptocurrency after TV star confirms split - The Independent - September 17th, 2026 [September 17th, 2026]
- Four California seniors reported scams in just 24 hours; police say cryptocurrency, gift-card and timeshare schemes cost them more than $315,000 - The... - September 2nd, 2026 [September 2nd, 2026]
- 1 Top Cryptocurrency to Buy Before It Hits $1 Million per Token by 2033, According to This Wall Street Analyst - The Motley Fool - September 2nd, 2026 [September 2nd, 2026]
- Justice Department seizes more than $560,000 in cryptocurrency donations for Hamas - Washington Times - September 2nd, 2026 [September 2nd, 2026]
- Justice Department seizes more than $560,000 in cryptocurrency donations for Hamas - PinalCentral.com - September 2nd, 2026 [September 2nd, 2026]
- Blow to Hamas' funding: Seizure of cryptocurrency and dismantling of its fundraising platforms - voz.us - September 2nd, 2026 [September 2nd, 2026]
- Bitcoin: Is The Bear Market Over? (Cryptocurrency:BTC-USD) - Seeking Alpha - September 2nd, 2026 [September 2nd, 2026]
- Cryptocurrency chief facing extradition from UK to US on fraud charges - Arizona Digital Free Press - September 2nd, 2026 [September 2nd, 2026]
- Cryptocurrency prices show mixed movements with Bitcoin down 0.56% and altcoins varying widely. - Pluang - September 2nd, 2026 [September 2nd, 2026]
- Cryptocurrency prices show mixed movements with Bitcoin down 1.16% and Ethereum down 1.11%. - Pluang - September 2nd, 2026 [September 2nd, 2026]
- 1 Top Cryptocurrency to Buy Before It Hits $1 Million per Token by 2033, According to This Wall Street Analyst - The Globe and Mail - September 2nd, 2026 [September 2nd, 2026]
- New Cryptocurrency Rules in Russia from September 1, 2026: What Will Change for Individuals and Businesses - KuCoin - September 2nd, 2026 [September 2nd, 2026]
- A System for Paying for Public Transportation with Cryptocurrency Has Been Patented in Milan - Visit Ukraine - September 2nd, 2026 [September 2nd, 2026]
- How cryptocurrency is transforming organized crime in Israel, and the police fight against it - Ynetnews - August 31st, 2026 [August 31st, 2026]
- Would You Use a Debit Card That Offers 2% Cashback in Bitcoin? This Popular Cryptocurrency Exchange Thinks You Will. - The Motley Fool - August 31st, 2026 [August 31st, 2026]
- Cryptocurrency chief facing extradition from UK to US on fraud charges - Reuters - August 31st, 2026 [August 31st, 2026]
- The Cult and Corruption of Cryptocurrency - Mother Jones - August 31st, 2026 [August 31st, 2026]
- The Cult and Corruption of Cryptocurrency - Reveal from The Center for Investigative Reporting - August 31st, 2026 [August 31st, 2026]
- Gold, Flights, Cryptocurrency: U.S. Vows to Go After More Than Irans Oil - The New York Times - August 31st, 2026 [August 31st, 2026]
- 1 Popular Cryptocurrency to Buy Before It Surges by 920%, According to Cathie Wood's Ark Invest - Yahoo Finance - August 31st, 2026 [August 31st, 2026]
- Cambodias scam-center underworld linked to Mexico's Sinaloa Cartel and its cryptocurrency millions - Fortune - August 31st, 2026 [August 31st, 2026]
- Cryptocurrency prices show mixed movements with Bitcoin at $78,847 and notable gains in some altcoins. - Pluang - August 31st, 2026 [August 31st, 2026]
- U.S. President Trump delivers remarks with cryptocurrency executives, at the White House in Washington - The Lufkin Daily News - August 31st, 2026 [August 31st, 2026]
- 1 New Way to Invest in Cryptocurrency That Could Turn Your Crypto Portfolio Around in 2026 - Yahoo Finance - August 31st, 2026 [August 31st, 2026]
- Police partner with Cayman cryptocurrency broker - Cayman Compass - August 31st, 2026 [August 31st, 2026]
- Prediction: This Cryptocurrency Could Go Parabolic After the 2026 Midterm Elections - The Motley Fool - August 11th, 2026 [August 11th, 2026]
- 1 Popular Cryptocurrency to Buy Before Its Next Massive Rally, According to 1 Wall Street Bull - finance.yahoo.com - August 11th, 2026 [August 11th, 2026]
- McGuireWoods Authors Assess Convergence of AI and Cryptocurrency in The International Journal of Blockchain Law - McGuireWoods - August 11th, 2026 [August 11th, 2026]
- The organizer of a fraudulent cryptocurrency exchange network has been served with a notice of suspicion - () - August 11th, 2026 [August 11th, 2026]