XRP XRP to Quantum Resistant Ledger QRL Exchange

Crypto Pair Details: XRP to QRL

XRP XRP

Ripple is the catchall name for the cryptocurrency platform, the transactional protocol for which is actually XRP, in the same fashion as Ethereum is the name for the platform that facilitates trades in Ether. Like other cryptocurrencies, Ripple is built atop the idea of a distributed ledger network which requires various parties to participate in validating transactions, rather than any singular centralized authority. That facilitates transactions all over the world, and transfer fees are far cheaper than the likes of bitcoin. Unlike other cryptocurrencies, XRP transfers are effectively immediate, requiring no typical confirmation time. Ripple was originally founded by a single company, Ripple Labs, and continues to be backed by it, rather than the larger network of developers that continue bitcoin’s development. It also doesn’t have a fluctuating amount of its currency in existence. Where bitcoin has a continually growing pool with an eventual maximum, and Ethereum theoretically has no limit, Ripple was created with all of its 100 billion XRP tokens right out of the gate. That number is maintained with no mining and most of the tokens are owned and held by Ripple Labs itself — around 60 billion at the latest count. Even at the recently reduced value of around half a dollar per XRP, that means Ripple Labs is currently sitting on around $20 billion worth of the cryptocurrency (note: Ripple’s price crashed hard recently, and may be worth far less than $60 billion by time you read this). It holds 55 billion XRP in an escrow account, which allows it to sell up to a billion per month if it so chooses in order to fund new projects and acquisitions. Selling such an amount would likely have a drastic effect on the cryptocurrency’s value, and isn’t something Ripple Labs plans to do anytime soon. In actuality, Ripple Labs is looking to leverage the technology behind XRP to allow for faster banking transactions around the world. While Bitcoin and other cryptocurrencies are built on the idea of separating financial transactions from the financial organizations of traditional currencies, Ripple is almost the opposite in every sense. XRP by Ripple price can be found on this page alongside the market capitalization and additional stats.

Quantum Resistant Ledger QRL

Quantum Resistant Ledger is a cryptocurrency based on the Python programming language, aimed at combating future attacks by quantum computers. This cryptocurrency is the brainchild of Peter Waterland who realised that Bitcoin, Ethereum, and other such cryptocurrencies have no protection against future technology. It claims to be a “future-proof” cryptocurrency which enables transactions and decentralized communication while providing protection against classical as well as quantum computer attacks. The Quantum Resistant Ledger company was founded by Peter Waterland, who found that Bitcoin, as well as Ethereum signatures are susceptible to attacks by powerful quantum computers. His research on quantum computers and signature programs let to the development of this new cryptocurrency, designed to be resistant to the present classical attacks as well as any future quantum computer attacks. Their team is made up of a diverse range of members spread out across the world, including developers (core, blockchain, mobile developers, etc.), analysts, advisors, marketing managers, designers and more. Quantum Resistant Ledger is the first ever cryptocurrency and the only one in existence as of August 2018, to consider the threat that the future technology of quantum computing poses to cryptocurrencies and their working. It uses a technology specifically designed for post-quantum security, called XMSS, which makes it secure against powerful quantum computers even while using a Proof-of-Stake consensus mechanism. Security against cyber-attacks is a very serious concern in this digital age, especially when you have digital assets whose loss is likely to lead you to bankruptcy. QRL is the first blockchain technology that provides durability and stability through resistance to quantum computer attacks. The encryption methods used by modern blockchains can become vulnerable to quantum computers over the next ten years. QRL tries to create a blockchain with long-term stability. By using blockchain technology, the QRL platform creates a “ledger” that generates hashes in such a way that it is virtually impenetrable to any type of computer attack.

SOURCE: COINGECKO

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