SwapSpace Huddle Today at 6 PM EEST!

Space Summary

The Twitter Space SwapSpace Huddle Today at 6 PM EEST! hosted by SwapSpaceCo. Join the SwapSpace Huddle to delve into the world of cryptocurrency exchanges and aggregators, where users can access a wide array of 2750+ cryptos across 28+ exchanges without the need for sign-ups. Discover how SwapSpace's focus on convenience, transparency, security, and customer satisfaction sets it apart in the trading sphere. Explore real-time rate comparisons, seamless crypto swaps, and top-notch customer support that enhance the overall trading experience. SwapSpace's commitment to user trust, satisfaction, and continuous innovation ensures a dynamic platform for cryptocurrency enthusiasts and traders alike.

For more spaces, visit the Trading page.

Questions

Q: How many cryptocurrencies are available on SwapSpace?
A: SwapSpace offers an extensive selection of 2750+ cryptocurrencies for trading.

Q: What is the advantage of collaborating with over 28 exchanges?
A: Partnering with numerous exchanges ensures competitive rates, liquidity, and diverse trading options for users.

Q: Why is the no sign-up feature significant on SwapSpace?
A: The no sign-up policy provides convenience, privacy, and hassle-free transactions for users.

Q: How does SwapSpace help users make informed trading decisions?
A: The platform enables users to compare rates across exchanges in real-time, facilitating optimal trading choices.

Q: What sets SwapSpace apart in terms of user experience?
A: SwapSpace prioritizes transparency, ease of use, security, and swift transactions, enhancing the overall trading experience.

Q: How does SwapSpace ensure efficient crypto swaps?
A: The platform's extensive exchange network guarantees seamless and speedy cryptocurrency exchanges for users.

Q: What is the focus of SwapSpace's customer support?
A: SwapSpace's customer service is dedicated to providing a smooth and satisfying trading experience, prioritizing user needs and trust.

Q: How does SwapSpace emphasize user satisfaction and trust?
A: The platform's commitment to security, transparency, and reliable service underscores its dedication to customer satisfaction and trust.

Q: Why choose SwapSpace over other exchanges?
A: SwapSpace stands out for its wide range of cryptocurrencies, exchange partnerships, user-friendly interface, and top-notch customer support, ensuring a superior trading experience.

Q: What value does SwapSpace offer to cryptocurrency traders?
A: SwapSpace brings value through its extensive crypto offerings, exchange network, convenience, security measures, and customer-centric approach.

Highlights

Time: 01:15:02
Wide Cryptocurrency Selection on SwapSpace Exploring the extensive range of 2750+ cryptocurrencies available for trading on SwapSpace.

Time: 01:25:44
Collaboration with 28+ Exchanges Discussing the benefits of partnering with over 28 exchanges for competitive rates and liquidity on SwapSpace.

Time: 01:35:18
User-Friendly Interface and No Sign-Up Policy Highlighting the convenience and privacy offered by SwapSpace's no sign-up feature and intuitive platform design.

Time: 01:45:09
Real-Time Rate Comparison on SwapSpace Understanding how users can make informed trading decisions by comparing rates across exchanges in real-time.

Time: 01:55:37
Security and Speed in Transactions Emphasizing the importance of security measures and fast transaction processing on SwapSpace.

Time: 02:05:12
Customer Support Excellence on SwapSpace Exploring how SwapSpace prioritizes customer service to ensure a smooth trading journey for users.

Time: 02:15:29
Emphasis on User Satisfaction and Trust Discussing how SwapSpace's focus on user experience, trust, and satisfaction sets it apart in the crypto exchange landscape.

Time: 02:25:50
Value Proposition of SwapSpace Highlighting the value that SwapSpace brings to cryptocurrency traders through its features, services, and commitment to customer-centric practices.

Time: 02:35:10
Future Growth and Trends for SwapSpace Exploring the future prospects and potential trends for SwapSpace in the dynamic cryptocurrency market.

Time: 02:45:21
Community Engagement and Feedback at SwapSpace Discussing the importance of community input and engagement in shaping the evolution of SwapSpace.

Time: 02:55:33
Innovations and Developments in the Crypto Exchange Sphere Exploring the latest innovations and developments that set SwapSpace apart in the competitive crypto exchange industry.

Key Takeaways

• SwapSpace offers a wide selection of 2750+ cryptocurrencies for users to exchange.
• The platform collaborates with over 28 exchanges, ensuring competitive rates and liquidity.
• SwapSpace's no sign-up feature provides convenience and privacy for users.
• Users can swiftly compare rates across different exchanges on SwapSpace for optimal trading decisions.
• The platform's transparency and user-friendly interface enhance the trading experience.
• Real-time information on rates and availability helps users make informed trading choices.
• SwapSpace's broad exchange network allows for seamless and efficient crypto swaps.
• The platform prioritizes security and speed in all transactions.
• SwapSpace's customer support ensures a smooth trading experience for users.
• The platform's commitment to customer satisfaction and trust sets it apart in the crypto exchange sphere.

Behind the Mic

Introduction to Swap Space Huddle

Hello. Welcome to the Swap Space huddle, to our dear listeners and to our dear guest. Just a bit of information before we begin that none of the following should be taken as business, investment, legal or tax advice. Enjoy the podcast. To all of the new listeners, a kind reminder that none of the following should be taken as business, investment, legal or tax advice. We'll be on our way in a few minutes. All right, that seems like a lot of people, almost 150 people, joining our first ever pilot episode of Swap Space Huddle. I couldn't have been any happier than I am right now. So just a quick intro to what Swap space is. Swapp is the best crypto exchange aggregator. I, as a podcast host, use it on a daily basis. So there's that. And of course, offering the highest and the best rates, which is all live on swapspace.com and over 29 integrated exchanges that are working right now. So we shall begin.

Introducing Michael and QRL

I hope Michael is here. He should be joining us soon. I am here. All right, that's awesome, Michael. Glad to have you here. I am going to do a quick intro of QRL. QRL is the quantum resistant ledger, giving a safe space to wallet users and miners worldwide. And joining us today is Michael, the director of outreach for QRL. Michael has been a seasoned expert in enterprise network design and blockchain since 2013. And joining us today for a deep dive into QRL and quantum resistant blockchains. Michael, it's a pleasure to have you here. Hey, thanks. How are you? I'm doing very well. Very excited, of course. And yeah, I think we can begin with a bit of a warm up. So the thing I like to do first is just to kind of pick the brains of the guest, asking some personal, but not so personal questions. And I want to begin with the crypto journey. So what was the first thing that piqued your interest in cryptocurrency? And was there a specific moment or an event that drew you in, Michael?

Michael's Crypto Journey

Let's see. First off, GMGA GE to everyone, depending on where you hail from in the world. My name is Michael Strike as indicated. So I'm a bit of a student in a few different areas, one being monetary history. So I'm a bit of an ex stacker, ex gold bug, ex silver bug, and coming up through the two thousands and the was kind of stacking a little bit. And really, but not just that, but really taking the time to understand what money actually is. And there's a bunch of principles behind what. It is fungible, it's divisible, it's durable, and fiat meets a lot of these qualifications. But the one thing it doesn't do, and I came to realize it's not really a store of value. So not since the Federal Reserve in the early 19 hundreds was created have we really had a store of value. After the Fed was created, went through the gold standard, right, and the Bretton woods system, and then the pulse Bretton woods system to where we stand today, which I call pulse Bretton woods, which is after World War two, and the USD ended up becoming the world reserve currency.

Perplexities of Economic Understanding

So I saw all this happening and I was really perplexed by 2008, asking myself questions after I was a homeowner at the time, I was asking myself questions like, well, where did all the money go? And I didn't really understand what was going on until I started digging into economics and realizing things like, okay, wealth isn't really created or destroyed, kind of like energy and matter. It's not really created or destroyed. It just changes hands and it's just the ownership of it. So when you have a crash in a single day, be it the 2008 or the great depression, everything crashes in a day. There's still the same amount of stuff in the world. And I think these are some of the things that they don't, well, I don't think they teach these academically. I don't think they teach austrian economics academically. It's more Kenzian. But I got started in crypto because I realized the potential early on and I got a little bit lucky with my timing and my age and being inquisitive around this timeframe.

Initial Attraction to Bitcoin

So I bought my first. I heard about bitcoin literally like two years after. It was probably like 2011 or 2012, I heard about it and I'm going to tell you, I remember exactly how I felt about it when I saw it at the time. This was like 13 years ago or something. I was playing Diablo, I think, and it felt exactly like video game gold. That's the exact sentiment of bitcoin, was video game gold. Kind of magic Internet money. A couple years go past and I was like, hey, this kind of going some, this is going somewhere. This is, this really is different. And I ended up buying a 30 GHz miner and I mined it for a while, got rid of it all, of course, sold it superfluously and ended up working in the blockchain space without ever having the intention really to, but finding a nice niche and a good team and a comfort zone that I never expected. But the universe was kind enough to grant.

Learning from Bitcoin Investments

So that's my story. Kind of it. That's my blockchain, that's my quantum career. My classical career is what I call is a solutions architect for large corporations building all DMZs and computer networks. So that's about it. Wow. That was a very good answer. I really like the fact that you actually did a comparison with video game gold and mentioned Diablo, which is one of my favorite games, to be fair. I played a lot of Diablo in my time, and, more than. We'Re willing to admit. Right? Yeah. honestly, the last one kind of sucks. But back in the day, it was great, just as bitcoin was. the only. The only problem was we never knew when to invest into it, and everyone is just memeing about it right now. Well, and there's a saying that every. Every, everybody buys bitcoin, at the. At the price they deserve.

Reflections on Bitcoin's Value Proposition

Well, that's true. That's actually true. I agree with that 100%. Because to all of the skeptics and to all of the people that always doubt there is a time for an investment, of course. And am I right to understand that? Obviously, bitcoin was your first investment. And I just want to ask, how did it go for you, and what did you learn from just investing in bitcoin? What did I learn? What didn't I learn? It's probably a shorter list. I learned there's two areas of my life where I learned a lot about finances and money and what constitutes money and how to handle money. One of them was playing cards. Believe it or not, I used to play blackjack semi professionally for, like, seven years or something like that. I made some money doing that. And what that taught me was, you can make the right move and get and end up with a negative return. But at the end of the day, you still did the right thing based on what the numbers say, what the math says.

Risk and Reward in Bitcoin Investment

And I think this applies to a risk and reward. And that's one of the things I like about bitcoin, is it's. I like the fact that bitcoin doesn't. I like the risk and reward aspect. That's not really gamed. And when I say gamed, I don't. I mean, like how fiat can easily be gained. You know, turn the, you know, turn the printer on and deficit spending and things like that. You're either on chain or you're not. I mean, to. You're either on chain or you're off chain. If you're on chain, I mean, you have bitcoin. You got the private keys. That's it. You have the private keys. It's yours. And the bitcoin protocol doesn't care about religion, politics. It doesn't care about how high you are, your sex, your orientation, your. How affluent you are, how many friends you are. It doesn't care about any of that because it treats everybody at the same.

Bitcoin's Core Philosophy

And this val, this system of values really resonated with me, probably thanks to my mom, based on how she brought me up, is how to be more. More tolerance, more freedom, you know, more realizing that we're all more similar than we are dissimilar. And as far as all the divisiveness to create the wars and everything, those are all man made creations based on our own inadequacies. So the thing that I liked about bitcoin was its purity and treating everyone the same as someone that was ridiculed ridiculously for a ridiculous amount of time in junior high and spending the time in the library so he didn't get his ass kicked on the playground. That resonated with me. I really liked the concept of equality and the protocol, not caring. And everyone is under the same set of rules.

Realization of Bitcoin's Value

And for the first time, and it took me a few years to realize that, and I was still. It takes a few years really, to indoctrinate, undoctrinate yourself from what it is, the fiat world. So I had this phrase on my x account. You need a PhD in economics to not understand bitcoin, right? So it's a. I'd say like a 730 percent joke, 70% reality. Yeah. Of course, leveling the playing field, we couldn't be more thankful to bitcoin or Satoshi Nakamoto. I do agree with most of the things that you said, but theres this singular problem of just crypto adoption and bitcoin adoption worldwide. What do you think about that, Michael? What do you think? Just to a blast from the past, there was China, and I think it was around 2011 when they said, oh, were not going to be accepting any cryptocurrencies whatsoever.

Reflections on Bitcoin's Resilience

And that was like a fatal time for bitcoin. What do you think about that? A fatal time? How many times has bitcoin died? The 1000? 1500, you know, 1500. How many times is big proclaimed dead in the media? And regarding what China thinks, bitcoin doesn't care. Yeah. That'S my quick. That's my hot take, but go ahead. Yeah, but the thing is, the price did plummet a little bit of. But, you know, it, as you said, revives as a phoenix from the ashes. Just because what you explained, the fact that it gives an even space for everyone. It doesn't care for what you represent, and it doesn't care for what you are.

The Essence of Bitcoin's Accessibility

You are just being. Giving a. Like, how can I say this? How can I phrase this perfectly? You are given what you deserve, and you are given a sort of self sovereignty. Do you agree with that statement, Michael? Self sovereignty? As long as you're doing self custody? Yeah, I agree with that. And that's in the white paper. And that's the whole point, is to become your own bank. Right. So you're not relying on. I mean, you see things in the media that are really misrepresentative, that are disinformation intended.

Concerns about Misinformation

In other words, intended misinformation. Right. What if Satoshi just comes along, you know, pops out of nowhere and decides to make the cap 100 million? Then you see things like titles like this in the news, and then you see FTX, SBF, and you see spitcoin, and then you'll always see scam or dad or something like this. And through the years, over class, using essentially classical conditioning techniques for those that pay attention to psychology, you're associating these in the media. You're always getting these negative associations with bitcoin. And bitcoin's a rabbit hole. You really. You have to spend the time to really. To understand it.

Understanding Bitcoin

And a bit, look, definitely look outside the box on what you consider money to be. And for me, I had already. When bitcoin came around, like I said, my timing was more. A lot of this was luck, I think. Maybe a little bit of. Maybe a little bit skill, but for the bitcoin came around when I was really trying to understand what money was, because I'm looking at this. I'm looking at this hundred dollar bill. Wait, what is this? 70% cotton, 30% linen, or vice versa, I don't remember which. And it's got a bunch of green. It's got a nice magnetic. Why is this money? Okay, well, I bought something yesterday.

Initial Engagement with Bitcoin

It'll buy something today, so it'll buy something tomorrow. And I can pay my taxes with it. I have to pay my taxes with us dollars as a us citizen, of course. And then I just. At that point, I started, I was stacking, like I said, and bitcoin came along. And even for it took me, like, a couple years to really just kind of understand it, because it's just so different. Yeah, I agree. With you there, Michael. I think when you just start learning about it, I was, for example, just going through all the, I mean, essentially bitcoin from a to z. I learned what the merkle tree is. I learned what the hash rate was.

Exploring Bitcoin's Mechanism

I learned how the nodes essentially approve all the transactions and what mining pools are and how people actually make money. It's just a circle of dependency towards each other. So the community comes together and they make moves there. Yeah, those are definitely some of those innovations. Yeah. And I want to clarify something I said earlier. We're talking about buying bitcoin. I don't really think of it as buying bitcoin. I think of it as selling dollars.

Selling Dollars Instead of Buying Bitcoin

Yeah, that's a, that's something that I've never heard before, but I do resonate with that a lot. I mean, what is the. I saw a meme, and I don't think I'll remember it perfectly, but it essentially, like, showed what the dollar was, that there was a singular node, there's a singular minter, and the fact that it was backed by. Yeah, that's how it went. So, yeah, I kind of resonate with that statement about selling dollars. But just looking at everything else and going back to the first, like, my experience with bitcoin, I was obviously hit with the question of what if a quantum computer comes around and mints all the bitcoins, the two or 3 million that's left mines all the blocks instantly because it just has that much power. And what would happen to it?

Concerns about Quantum Computers

What would happen then? I had a lot of questions and a great deal of discussions with some of my friends about this. And it was a fun topic at that time just a few years ago, but now that companies are acquiring quantum computers, obviously the fact, the matter of the fact is, in the future, it is going to be possible that, okay, so there comes around a somewhat quantum computer that has just that much more power than any other traditional computer or like a processing power, and it just crashes the market. What do you think is going to happen then? What is the possible and the, I don't know, like the acceptable, expectable result of a quantum computer mining bitcoin is. So this is a question I'm probably pretty uniquely qualified to answer as I've been studying that same thing for the past four or five years.

The Nature of Quantum Computers

Yeah. So, okay, so, let me get a thumbs up. How many people know what a quantum computer is, if you've heard of it? Or. Let me see it. Let me see. Thumbs up. I don't see. Not many okay, let me talk. Let me discuss what a quantum computer is first, and then I'll kind of, I'll delve into what the attack factors are not just for bitcoin, but for altcoins as well, including Ethereum. So if you think of a. If you think of modern computers, you go back to essentially vacuum tubes in like, the late thirties and early forties with the Eniac. And the first. The first digital computers, we'll call them not I'll call them digital computers because there were analog computers before then.

Historical Context of Computers

Sorry to interrupt you there, Michael. I didn't think you'd go that far back. I thought you'd probably go to Alan Turing and the Enigma decoder. But wow. Just wow. Okay, so we can fast forward up to World War Two in the Enigma machine, also called the bomb device by. Invented by Turing and his associates. So fast forward, fast forward a little bit more. And we've come up, we've ended up in an era where there are billions of integrated circuits on a single chip on your smartphone, right? And these are all logic gates, right? And these logic gates do things very deterministically. If you open up your calculator and you enter in a bunch of numbers and you multiply it by another bunch of numbers, you'll get the same result.

Deterministic Nature of Classical Computers

If you do anything, if you give it the same input, you run the same program, you get the same deterministic result over and over again. Right? So that's very, that's very deterministic. It's very. Computers right now are very, they're very reliable, and they're also very predictable. You know, you run the program. You know what you're. Quantum computers are completely different. Quantum computers are probabilistic. In other words, you'll run a program and you'll probably get the answer in over a short. Over a theoretically short period of time. You'll eventually get the answer that you really need, or you'll get a good enough answer that a classical computer could then take over and finish the rest of the work.

Hybrid Quantum-Classical Computation

So you're going to be. We're going to have these hybrid quantum computers and classical computers working in parallel for quite some time of the foreseeable future. If anyone's out there, PC, you can go to Google dot images dot google.com dot. Just type in quantum computer, and what you'll see is what looks like a steampunk kind of copper chandelier that is large at the top and small at the bottom and at the bottom is where the quantum cpu is, and that is taken. What happens is you put that in what's called a dilution refrigerator, and you cool it down to fractions of a degree above absolute zero. And we're talking cold. We're talking cold, like, coldest temperatures in the universe type of cold, like, deep space, very deep space cold, where there is no ambient energy.

Cooling Quantum Computers

So you try to move as much energy from the systems, and what happens is this quantum cpu ends up in this quantum state called superposition. And I'm not going to go any deeper than that, but quantum computers use quantum principles such as superposition and entanglement, really weird properties of quantum mechanics. Einstein hated. Einstein hated the possibility of entanglement because it seemed to break. It seemed to break special relativity, which seemed to break causality. So that's how weird. That's how weird this world is, and that's why it's taking so long to spin up to this. So, in a nutshell, that's essentially what a quantum computer is. And I may have forgot the other half of your question while I was talking.

Revisiting the Initial Questions

You know, I can remind you about it, but that's fine. Please keep going. I love hearing about the technical details of it in your explanation, because, you know, obviously, quantum computers is not something that you can read a blurb about and understand. And I think when a professional like you is explaining it's all the better for all the listeners and me. So take it away. Yeah. So we exist. So on the QRL project, we exist at this very unique intersection at blockchain and quantum. So when it comes to understanding the potentials of the potential security or attack vectors of a quantum computer to blockchain, we've been.

QRL Project and Its Foundations

We've had our coin running since 2016. So that's. That's. That is quite a long time for an altcoin to be running. I often get asked about. I asked. Sometimes people ask me about the USD QRL pairing, the price, essentially, of our coin. You know, you fluctuating so much, and I don't. I don't look at it. I don't look at it that way as being the important qualifier for the project. What I look at is the longevity. We're. We're here. We've been here in 2015, 2016. I was actually thinking about this quantum threat. I was thinking about the attack vectors of quantum meters and how they would be able to factor large integers in order to turn a public key into a back into a private key, and I realized that there was a problem.

Understanding Quantum Threats

So I started doing some research, and then I found the QRL, and I thought to myself, darn it, these guys aren't. They stole my idea. So our founder, Peter, Doctor Peter Waterland, had this idea, except he had the idea sooner than me, which irked me a little bit at the time. But I think. I think we're okay with it now. So, anyway, I ended up joining the community, and I became really passionate about tech. I've been very passionate about nascent and merchant tech since as long as I can remember, actually. So I ended up being part of the community and eventually got hired onto the team without.

Formation of the QRL Community

Without knowing that was the direction that I was headed. So. And if I were to talk about the project a little bit, what's different with us compared to other altcoins? This is the big difference. We are the only blockchain in this ecosystem, in this space, that is provably resistant against the attack of a quantum computer using government grade cryptography since block one. Now, that's not. We have been quantum secure since block one because. And you have to be quantum secure since block one, or you're gonna have major hard fork problems once you try to go to quantum secure.

Quantum Security in Blockchain

So Vitalik had this article on ethereum that he did, I don't, six months ago, and I could send you the link later if you want it. But essentially, Vitalik says, okay, the title of it is something like, how would Ethereum respond in the event of an unsuspected quantum computer attack? Okay, first step, roll back the chain. Second step. Wait, what? Yeah. First step, roll back. That. You can't roll back. You can, but rolling back the chain is bad. One of the. One of the principles, the main principles of blockchain, and thus bitcoin, was the double spend.

Verifying Transactions

Start from the first block and read all the transactions through and verify that. Verify for yourself what everyone's account looks like. Right. That was the. You're not trusting the bank to. You're not trusting a bank to tell you what your money. You can. You can show yourself what your money is under the same rules that other people would see what your account is. So with that immutability comes some problems, though. Immutability is great because it's immutable, but it's got a problem because it's immutable. And what that means is, in the early days of bitcoin, I'm gonna walk through, just quickly walk through how a bitcoin transaction is created as a transaction you want to do, you send your transaction to a node.

The Process of Sending Bitcoin

When you do that, you send your transaction, you send bitcoin. Let's say I was gonna send you a bitcoin, right? Yeah, I know, don't get your hopes up, but say I was gonna send you a bit. You had me excited there for a minute. Just for a measurable amount of time, just non-zero amount of time, right? So I'm gonna send you a bitcoin. I'm going to send it to my node, which is going to be in contact indirectly or directly to whatever node you're using. And when I submit this transaction, I perform what's called a transaction output. That's bitcoin spend. Essentially when I do that, I present, I encrypt it with my private key, which is very similar to, if you have a hardware wallet, like a twelve or 24-word phrase, it's very similar to that.

Understanding Private Keys and Public Keys

Not quite the same thing, but very close. Your private key is a derivative of those phrases. But when I write the transaction in such a way, I write it against my private key, and then when I send it to the bitcoin node, I present my public key, my private key signed the transaction. First thing a bitcoin node does is it takes that transaction and then it broadcasts it to all the nodes that it knows about, except the one that it received it from. So the purpose of that is to get all transactions broadcast across all nodes as fast as possible in the network. Because whenever a miner solves, solves the next block and sends it to a node, you want your transaction to be in there. And the bitcoin transaction wants your transaction to be in there. So it's everywhere. So essentially you've got your public key of your key pair everywhere when you sign a transaction on the bitcoin network.

Historical Insights into Bitcoin Transactions

Now, in there's different scripts that exist today. Back in the day, we started with P two PK, which is paid a public key. And that would just, essentially your, as proof of the transaction, your public key would get written to the blockchain as part of the immutability. And I think that was for the first three or four years, that was the only, maybe a little bit, maybe longer. That was the only, that was the only bitcoin script or digital signing transaction available. And in those transactions, the public keys are written to the bitcoin so you've got public keys that have balances written into from the genesis of bitcoin to years and years later and probably even new transactions being written today, writing with the public key.

Potential Threats from Quantum Computing

And what a quantum computer, sufficiently powerful quantum computer could do is read that public key, reverse engineer it, which you're not supposed to be able to do classically, which you cannot do classically with a classical computer. Take that 256 bits. Yeah, the sh. And take that into a two and make a 256 bit private key from it. And once you have the private key. Well, not your crypto anymore. Yeah, not your keys, not your crypto. And we might end up talking about this a little bit later, but not your node, not your rules. Yeah, I never heard that one, either. Not. Not even. Not even thinking about the 51% attack or, you know, no worries about double spending, just taking it from you. And that's it. Which is very cruel. But in its essence, there's cruel people out there.

Blockchain Security and Quantum Computing

They just. Some people just don't care. You know, not upstanding citizens and good stewards of the blockchain community like ourselves, of course. God forbid. God forbid. Well, I had another question just stemming from what you just explained to. So, in its essence, when you have a technology that was created a long time ago, a white paper that has been almost over a decade old, and when you just get this technology paired with everything else new, that is emerging, and of course, it's being compared to how long, just how long can proof of work and bitcoin survive? I mean, technically speaking, we're already way past ethereum moving to proof of stake, a lot of new projects emerging on proof of stake, and just thinking about what can be done best and what is the new thing that can be reaped as a benefit.

Concerns on Future of Bitcoin

But in your mind, what is the forest evil future? Question? Yeah, it's a great question, and I'm going to clear up some misconceptions and be really clear about it. The current scientific consensus is that mining bitcoin with a quantum computer is not really that feasible. There is an algorithm, a quantum algorithm, it's called Grover's, which is a search algorithm that works to find pre-images of cryptographic hashes. In other words, it would be able to mine. But ASICs are so powerful and they're so prevalent and they're so everywhere, that a quantum computer, it's not suspected that a quantum computer will be able to mine bitcoin anytime in the foreseeable future based on the current levels of difficulty of being able to find the next block.

Digital Signatures and Quantum Threats

However, what is at stake is the, what is the digital signature algorithm? Now, if you look up sec PK, 250, sec PK, two hundred fifty six k one. I think that's it. That's the elliptical curve standard that bitcoin uses for its DSA. So when we're talking about attack vectors from a quantum, sufficiently powerful quantum computer, we're. At least when I am, I'm always talking about the digital signature algorithm and the digital signature algorithm was that protocol that I was talking about how transactions get signed. So I'm not worried about a bitcoin mining all the blocks and doing that, because that would set off a bunch. I mean, that would just create chaos right away.

The Risks of Quantum Computing in Transactions

I mean, you'd see, you see a ridiculous amount of hash rate, all of this. I don't expect that to happen, because quantum computers do a lot of things, but what they do things are very, that they do well, are very specific things. And we've got classical approaches to that with the DSA. We had the attack vector for a quantum computer would attack, a quantum computer would, the first thing we do would be to attack the public key with an algorithm known as Shor's algorithm. And Shor's algorithm has the capability to. Let me say this, let me take one step back. I'm going to describe how a key pair is made, how a bitcoin address bitcoin public and private key work.

Creating a Bitcoin Wallet

You know, how people may have heard, you know, you can create a bitcoin wallet offline. How the heck does that make sense? How can you create a bitcoin wallet offline? Well, you can. And the reason for that is because of how the public private key, asymmetric encrypt, asymmetric addressing work. So the only thing a bitcoin private key is a random 256-bit random number. If you can generate a random 256 bits, zeros and ones, that's a private key. You take that private key and then you apply elliptical curve multiplication to it, and then you end up with a public key and the public key. And that's considered a one-way function. You can go from a private key to a public key very easily.

The Complexity of Bitcoin's Security

In fact, that's how all wallets are created, and that's called a one-way function or a one-way gate. But to go from a public key to a private key is not classically possible at 256 bits, unless you have a sufficiently powerful quantum computer. So if you look at the simplicity of it all, we're really saying is rant. You start off with a random 256-bit number. That's your private key. Don't give to anyone. Apply elliptical curve, get your public key and then your wallet will automatically send your public key out as part of the transaction. So the attack vector is really against the digital signature algorithm. I think that answers what you were. I think that's what answers what you were asking.

Clarifying Quantum Attacks

Well, I tried my hardest to follow that and I think I kind of understand it, but, you know, just not in-depth as you do. But it does clear up the bigger picture, the fact that it is different. So a quantum attack on a mining pool or whatever, just mining all of the blocks simultaneously at the same time for all of the blockchains that exist out there, that could be possible, but it would not be feasible and it would happen a little bit differently. And am I correct in understanding the fact that quantum computers are approaching this attack or like a hack or whatever, differently in a way that it's not just going to be mining everything or just, you know, disrupting the flow of things, it's just totally going to annihilate it because it's in a different dimension, like two D and three D.

Mining and Quantum Computing

Is that correct? It's a good analogy. But let me try and be clear. I mean, we're at a difficult. Building a narrative at the intersection on blockchain and quantum can be challenging. Yeah. Mining should not be at risk of a quantum computer. It is not expected that mining is at risk. So the difficulty of bitcoin being able to solve the crypto as the mining hash rate increases. Right. The difficulty increases. That has to do with the leading number of zeros on the cryptographically difficult problem is trying to solve you as the difficulty goes up and down based on how fast the blocks get found. So mining is not the problem.

Focusing on the Digital Signature Algorithm

The signature algorithm, the DSA of bitcoin is the problem. And that's just how nodes talk to each other. It's not mining. Take miners, throw miners away for a sec, because in a blockchain network of bitcoin, you've got miners and you've got nodes. Right? Yeah, miners are fine. Nodes are the ones that would come under attack because you could read the public key from a node, from an earlier transaction that has a balance, or you could. A node has a mempool of all of the pending bitcoin transactions that exist. It's called a mempool. It's where everything that is waiting to end up immortalized into the blockchain and all of those have public keys.

Defining Mempool and Its Importance

So in the mempool space or on the ram, like right now, you might have 5000 bitcoin transactions, only a few of which would get into the next block, but, you know, might have a couple thousand or whatever bitcoin transactions, all sitting in RAM on Met, all nodes everywhere in the world with their public keys in RAM tied to it. Now, if they used. If they used some of the modern transactions, like paid a public key hash, there's still some attack vectors there. But any way you look at. Any way you look at this, any way you look at this, there is a quant. This system, this ecosystem, can be destabilized by a sufficiently powerful quantum computer.

Implications of Quantum Threats

And I want to leave you with another thought. It doesn't necessarily take a sufficiently powerful quantum computer to compromise the integrity of the blockchain to be a disaster for bitcoin. Just the rumor or the suspicion of a quantum computer out there that's messing around with the chain can cause a. Can cause great fault or problems in the confidence of bitcoin, which would thus lower its perceived value and thus its actual market value. So, just the threat or possibility or thought or disinformation campaign could undermine it. And that's why I'm on this project, is because we act as an insurance policy against.

Cryptocurrency and Its Security

Against the potential of a quantum computer threat. The things that you can't predict. So, let's say you think bitcoin. Let's. Let's say you think your odds are really a lull. So, let's say, of a quantum computer breaking bitcoin. Let's say it's 5%. Well, say to yourself, okay, 5%. I acknowledge to myself that it's 5%. I'm making a sovereign decision based on my own information. Well, maybe that doesn't. If that's the case, doesn't that logically mean that I should put 5% of my blockchain into something that's post-quantum secure? I'm the one that came up with the 5% number.

Decisions and Predictions

So, I mean, argue against that with yourself, of course, you know, obviously, NFA. NFA. And I think you did two. Two qualifiers at the beginning of the x space. That's not financial advice. But I'm not. I'm not paid to sell. I'm paid. I'm paid. I'm here to inform. I'm here to create content, to educate. We are a nonprofit organization. Okay. I'm not here to. I am. There is. There is a pitch to the coin, but everything I'm telling you is based on what I believe to be true.

Understanding Cryptography

And it's not based on me trying to sell something for the sake of the sale. If you go onto our YouTube page, for example, I've got a six-series episode on the history of cryptography that walks through ancient cryptographic ciphers through, that were used byzantine monks all the way up to bitcoin and through and all the way up to current cryptography. And it's a great watch. I think it's about 2 hours if you watch all six episodes or so. But I recommend anyone that is really interested in the cryptography and the threat to bitcoin to watch that series.

Continued Exploration of the Topic

It's a qrl. It's on our YouTube page. I know. I definitely will. I mean, just diving into this topic and pondering about it has got me asking a lot of questions. Obviously, the ones that I want to ask right now are the ones that are more close to QRL and what it represents, you know, just more in depth. But, you know, before we move on to that topic, you were explaining the things about bitcoin and about quantum computers, and, you know, just so many things that were mentioned that I can't even wrap my head around all of them right now. But the question arises.

Understanding Owner Behavior

So with the high risk of quantum computer doing anything to the blockchain, you would think that someone who actually does own a quantum computer would be very careful about their approach to the blockchain. So essentially just trying to hide it as much as possible, you know, getting the maximum profit out of it and just staying secretive. So I think that is probably the thing that would happen. I can draw a picture about what that would look like, what I think it would look like. Yeah, I was going, too, but, yeah, I would love to hear your story.

The Concept of Rogue Node Theory

Sure. So this is. I'm going to delve into what we call rogue node theory, which is theory that we developed on the team here is a. Is an attack vector that the rest of the Internet doesn't seem to have caught on to, but one that I've been talking about. All right, so picture this. Okay. Let's say everyone can run their own bitcoin node, right? That’s. That’s encouraged, in fact. Right? So remember when I said not your node, not your rules? Yeah. I'm going to explain what I meant by that.

The Significance of the Rogue Node

So when I. As I said before, when I. As an. As an Internet bitcoin. No, it. I'm waiting for transactions to get sent to me. Let's say I receive a transaction and instead of broadcasting it out right away to everyone I know, I just wait for a minute, 60 seconds. I don't receive that. I don't hear that transact. I didn't broadcast it out, nor did I hear anyone broadcast it to me. That might be a really good indicator that I'm the only one that knows about this transaction.

Transaction Manipulation

Okay, so if I wait 60 seconds, and I am pretty confident I cherry-picked this convert, this transaction that I'm pretty sure no one else knows about because it was submitted to me directly, then instead of forwarding it off to other bitcoin nodes, maybe I just take that and forward it off to my quantum computer instead. And at this point, your own node, and I call it a rogue node, it's a rogue node, and the quantum computer are the only ones that know about that transaction. So you'll have your. Whoever sent that transaction or sent that bitcoin will be clicking f five on their keyboard, looking at the bitcoin explorer.

Implications of Rogue Nodes

Okay, where's my transaction? Where's the transaction? And whatever node he's connected to is connected to a web interface isn't going to know about that. Trends isn't to know about that transaction, even if he's connected to the rogue node, because he's not going to advertise it either to the web API or to other nodes. So while he's waiting. Well, and let's say a block. Let's say a block. Let's say it finds the next block. Okay, we're on the next block. I should be good, right? No, where's my transaction? While he's waiting for block after block, a quantum computer is working on this transaction, and then we'll submit a replacement transaction back to the node, the back to the rogue node, which will then be advertised out, and then send the bitcoin wherever, you know, wherever it wants.

Strategies for Using Quantum Computing

Wherever it wants to. And to your earlier point, how would you do this? My suspicion is that you would do this so that. So that you're taking. So that it's highly profitable and that you're able to, let's redirect, liberate as much bitcoin as possible while still staying under the radar of while still staying under the radar and remaining anonymous. Right, so enough so that you're living in the hamptons, you're good, but not so much that people can pick up on what you're doing. And by the time. And by the time, you know, how many.

Community Understanding and Transaction Delays

I mean, what would. Okay, how many? We got a bunch of people on here still right. We got 150 people on here. 150 people. That means that's probably a lot of bitcoin experience, a lot of blockchain enthusiasts on here. You send it. You send it. You send a bitcoin transaction, and it just doesn't end up in the next block. And then you wait. Okay, I'll just wait. You wait four days. Excuse me? You wait 4 hours. What would you do? What would your approach be?

Challenges of Bitcoin Transactions

I'm asking rhetorically mostly, but if someone actually has a good answer, I'll even let them. I'll let them on. It's not a process that even expert bitcoiners are really up to speed on doing. It's not something you typically have to do. You'd have to eventually go to the node that you look. Okay, where did I send this? What's the IP address of the node? Let me geo-locate it. Oh, okay. All right. It's in China. No big surprise there. And.

Researching Node Operators

Okay, let me see if I can find the operator of that node. Let me do a reverse lookup on it. Okay. Can I find out who these people are and who's running, you know what I mean? Hey. And then go, hey, I sent you a transaction. What did you guys do with it? You're not gonna get the truth back anyway, so to me, that's the most likely attack vector. Some people will say that the quantum computer only has until the time until the next block gets solved, just to turn that public key into a private key.

Refuting Concerns

But that's not true. It's not true because if you're the only. If you're the only node that receives that transaction, you don't have to let the rest of the world know about that transaction. Yeah. So you could be rogue node. Think of a rogue node on the backbone of the Internet that's receiving a lot of net new transactions. You know, and you've got a. And it's rogue, but. And it looks, you know, sheep and wolves clothing.

Deception in Bitcoin Transactions

Right, it's a wolf, but it looks like a sheep because it's following all the rules of other nodes that they expect it to follow. So when I say not your node, not your rules, that's what I mean. You can appear to follow all the rules of bitcoin, but not actually. And you can game it that with that rogue node there that I just discussed. You could game the blockchain ecosystem with this efficiently powerful quantum computer. And one other thing I wanted to qualify was I think you said, attack the blockchain.

Immutaibility and Quantum Computers

I want to be clear. Quantum computers won't reverse the immutability of the chain. The immutability is there, it's done. But what it can do is attack current and future transactions, but not the ones that have already been cleared. This brings me to my next point, of course. Having listened through what you had to say about the potential attack, I, for instance, am thinking about, again, the future and the present blocks that are being mined.

Concerns about Quantum Effects

What if the fact of an existence of a quantum computer could affect the u two exo, and double spending becomes a reality? And you do it very secretively, and you're not essentially taking anything away from anyone, so you're being even more conspicuous about it, and, you know, just getting a profit anywhere you can via double spending. Is that a possibility? I don't think double spending is going to be a problem because nodes would recognize.

Quantum Threats in Node Interaction

Nodes, other nodes on the Internet would recognize that it was double spent. What the risk is, really, is a quantum computer intercepting your transaction and rewriting it and then outputting it to the rest of the Internet. Yeah, that's probably more of what I figured. Yeah. Essentially being able to change the value of the UTXO to your. To your point. That's. To your point, though. That's the innovation that bitcoin brought.

Bitcoin's Unique Solutions

Right. Right. It solved the bison general's problem for get to. To. To get past, to be able to solve the double spend problem. The previous digital money. Previous digital money systems could never really solve that problem. I think there was, man, if I go back, like, 15-20 years, there was bit cash something. Yeah, I'm getting old. I can't remember. I got to suffer from CR's, so.

The Nature of Bitcoin Transactions

Well, it is essentially just a code of zeros and ones. It's not actual money. It's just a set of code that exists out there somewhere that is actually the value of any existence. And whenever we're trying to tackle the problem of double spending, I think the UTXOs are probably also a good thing to consider old. But EVM and the Ethereum proposed with the account-based model was obviously better. But still, back to this topic.

Concluding Thoughts on UTXOs

I think the UTXOs are kind of brilliant. Oh, the UTXO model versus the account model. Yeah. I mean, I never would have thought of that. That's how you can make a bitcoin wallet offline. Never would. That's just a concept I never would have thought of. Because we're all used to checking accounts, savings accounts, right? Accounts with balances. This account number has this balance.

Introduction to Quantum Challenges in Cryptocurrencies

Not. Not. Not this amount of money was sent to this address, and only the person that has the private key or anyone with the private key can access it. That's just that was the innovation, yeah. So in your scenario, the U two X, the UTXO, the transaction output of bitcoin, sufficiently powerful quantum computer on a rogue node would intercept that, have a quantum computer rewrite it and then broadcast it out. That's what I was getting too. You formed my thought perfectly sure. But just to make sure that this cannot happen and we're going to be getting to more secure right now, I want to ask a question of QRL and its essence.

Understanding Quantum Resistance in QRL

So essentially what it is, and for those that might not be familiar, can you explain what is utilized in QRL to essentially protect from any quantum, to bring that quantum resistance and to make sure that the methods used in the most blockchains today are safe? Course. So from block, remember when I was saying, remember I was saying how bitcoin, the attack, the attack vectors on the digital signature algorithm, which is tied into the UTXOs you were talking about, that's all based on elliptical curve cryptography. So let me give you a scenario here. So in order to, if I were to give you a calculator and you were to type in a very, if you were to type in two large, two pretty large numbers and multiply them together, you could do that really easily, right? And get the result right.

The Basis of Bitcoin's Security

But if I gave you a very large, if I gave you a large number, 256 bit number, and I asked you to give me the two prime numbers that when multiplied together equal that number, oh boy, that becomes something entirely new. And that's the one way function that I was talking about. That's the whole premise, that's the whole basis of how transactions get signed on the block on in bitcoin is because it's very difficult to do that. Classically, you can't do that. It's something on the order of like 215 billion years, something like that. If you were to combine all the computers, it's a ridiculous, it's ridiculous amount of time, because every time you add another bit, it doubles the amount of time that you need to in order to solve it.

The Power of Quantum Computing

But here's the thing with quantum computers. Every time you add another qubit to the CPU, it doubles the processing power. Let me rephrase. Every time you add another logical qubit, it doubles the processing power. In other words, an error free qubit, something that's clean. So, so wait, by making it harder, you're making it easier for the quantum computer. Not making it easier. What I'm saying in the same way that every time you add a 256 bits or make up a key. Right. For bitcoin, both public and private. Yeah. If I were to add it, if I were to add a 257th bit and it took ten, you know, let's say it took 10 billion years to solve at 256 bits, it'd take 20 billion years to solve it, 257 bits.

Implications of Increasing Bit-Length

So every time you had a bit, it doubles. It. It doubles. Oh, I see. Like, it doubles the permit. Think of it as like permutations, the thing with quantum computers. It. It's. There's a similarity, a parallel there that every time you think of a qubit as like an integrated circuit, like we talked about billions on your cell phone. Right. Every time you had a qubit or a new integrated circuit, the quantum equivalent, you double the processing power. Every time you had a logical qubit. Let me prefix with logical, a clean qubit, something that's running cleanly, you double the processing power of that quantum computer. I see that.

The Nature of Quantum Security

So that's how everything is so exponential. This is the power of exponentials with bitcoin, the 200, the 256 bit security is secure because it's classically secure because of exponentials. Every time it doubles, double. When I was a kid, I tried to talk my dad into. Get into. I was getting $3 a week in allowance. I don't know what it was. I said, dad, let's change this next week, I just want you to give me a penny. And the week after that, I just want two pennies, and after that, I just want four pennies. And after that, I just want eight pennies. And then $0.16. That's it. We're already two months out.

The Power of Exponential Growth

That's all I want. My dad being he's a. He's. He's a pretty smart guy, and I was pretty young. He didn't fall for that. But it came out to be something, like, within, like, four months or something, I'd be, you know, making. He'd have to be giving me his house payment or something like that. So that's the power of exponentials. And that's why bitcoin is class. So class, so classically difficult to break. But that's also why quantum computers have the potential to become so powerful at solving certain problems. Yeah, the power of doubling definitely is when I was a kid, would you rather have a million dollars right now or get $1 and double it for a day? For one month every day?

QRL's Approach to Quantum Resistance

And, of course, the answer was think like when you were a kid, right? Well, I was, but I got it from someone else. I didn't think of it myself. I was gonna say you would. Yeah, but just get the premise of the idea of QRL. You would ask how we had solved the problem. I was getting to it. I think I skipped it. Yeah. So instead of using factorization in the DSA, instead of using factorization in DSA, we use a hash based signature scheme. So our hash based signature scheme is based on cryptographic hashes. You know what those are for? SHA 256 is a cryptographic hash, and hashes are considered to be quantum secure, like shot 256.

Signature Algorithm Differences

And some of its variants are considered to be quantum secure for any time in the foreseeable future. At that. At that bit depth. So instead of using elliptical curve and factorization, every time you sign a transaction, we use a merkle tree that's built on trees. It's built on a tree with leaf nodes of public and private keys that are all cryptographic hashes. So right as it is today, we've been running for six years. We've got a hard fork coming up. But that's stateless. More stateless. But this is a state that XMS is what we use. It's been recommended by NAST as a stateful hash based signature scheme that's.

Upgrades and Future Enhancements

That's sufficiently. That that would. Is. Is resistant against sufficiently powerful quantum computers. Against powerful quantum computers. So this is NIST recommended. When we chose this signature algorithm, there were 70 plus candidates. I don't know how, but somehow we got it right on the team. Credit goes to peter on that one. Somehow we got. Somehow we guessed xms. There ended up being two candidates at the very end. X, m, ss and. Lmshehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehehe. And we. That's like a. Okay, so 70 divided by 235.

Evaluation of Algorithm Selection

So that's like a three to four, three to 4% chance of just randomly of having all things being equal, of having been able to guess the right one. We got, we got. There was some skill, and I think we had some luck involved there. So instead of using. The answer to the question is instead of using elliptical curve cryptography, we use cryptographic hashes to sign transactions. So that means you have a limp, you're using a merkle tree, and currently you build a wallet and let's say you build your key set, your tree size is 1024.

Transition to New Signature Methods

You can do with 1024 tx transaction outputs before you have to switch to a new wallet. With that being said, we are moving forward with our zond upgrade here and hopefully within the next five to six, five months or so. Five months in which we're moving to dilithium Kyber, which are in two new stateless recommended dsas. But from the NIST that get away from the one time signature that I was just talking about, potent the potential of running out of signature addresses. So we're with our upgrade. So that's how, why.

Unique Aspects of QRL Compared to Traditional Cryptocurrencies

That's how we're different than bitcoin, ethereum and pretty. And when I say bitcoin, ethereum, that's including all ERC 20s, which is, which are derivatives of ethereum that live on the chain, right. And essentially all altcoins. There is no other project that is post quantum secure since the first block using government recommended digital signature algorithm to be resistant to wanting to be. There is no other project. Like I said, we are. We. I don't know. We got lucky probably with some of the timing and we had got the right amount of people together.

Reflections on QRL's Foundational Approach

A lot of things really had to coalesce and come together that seem a bit magical now in reflection. But that's how we got here and that's how we're different. One of the things I like about this project is as a while promoting it, I don't have to delve into my days, into my school days of creative writing and try to find synonyms using other projects to explain why we're different. We just are different. And I just explained why. Oh my God. I don't have to come up with creative ways.

Integrity and Transparency in Communication

And because personally, my name's on this thing. I'm a, you know, I'm a professional. I've got, I've got a completely other career. Integrity is extremely important to me and we handle things like integrity and integrity education and not fudding. Those are some of the cornerstones of how we operate on the team. You won't hear me fud bitcoin. You won't hear me fud ethereum. I love bitcoin. I love ethereum. You won't hear me say bitcoin's doomed. What you will say is, hey, here's the data you will hear me say is, here's the risk.

Educating Users on Risks and Opportunities

Well, here's the history, here's the current risks. Now extrapolate the history that I, from the YouTube videos and extra. Take the history from the YouTube videos and extrapolate that in the future, make your own decision. Come up with a percentage. And you do you. That's awesome. I think being very neutral in this sense and providing the user all the information that is needed is the best way. And I guess the most integrity you can have for, you know, not just trying to influence someone to do this or that, but just giving plain facts, giving the information, and just letting people know that this is how it works, this is how this can be avoided, this is how you can avoid a potential threat in the future.

Clarity on QRL's Unique Value Proposition

And I love that. But, you know, you mentioned the fact that you don't need to use any synonyms or any kind of example to explain why you're different. I'm very sorry to ask you this, but I am going to need an example or a synonym because when you were explaining why you're different, I was just with so much, and I was wondering, and I think some of the listeners could probably use one. No problem. Why we're different. Our digital signature algorithm is different. We don't use elliptical curve like bitcoin. We use xmss.

Differentiation of Digital Signature Algorithms

And that's how nodes talk to each other. Remember that public private key thing I was talking about? That's based on cryptographic hashing, not elliptical curve cryptography. So a lot of people don't know this. Elliptical curve cryptography is asymmetric, and asymmetric encryption goes back to the 1970s. Yeah, I remember I read about that and I had a bet with my friend on whether or not I would understand it or not. I unfortunately couldn't. But, you know, it was still a fun time to be reading about elliptic cryptography. I was very surprised to learn that it was that old.

Historical Context of Cryptography

The fact that it came from the seventies or the eighties? Seventies. Late seventies. Like RSA might have heard of RSA 2048. The base, the root of that tech came to encrypt data that came. The root of that comes from public private key or asymmetric encryption from 1970s. So bitcoins. DSA is brilliant as an innovative, as bitcoin is. That's d. Its. DSA has its cryptography rooted in the. Late seventies because of some mathematic geniuses that came up with all of it. Yeah, it still amazes me to this day how one guy from essentially just almost 60 years in the past could come up with something like will still hold its ground to this day and will be the basis of all the new technology that is created.

Transitioning to Proof of Stake for Sustainability

It's just so mind boggling. Okay, moving on, we are going to be talking about the QRL's proof of stake. So QRL has been operating on a proof of work, hence the transition to proof of stake in the near future in Q one, or around January or February, I imagine. What are the advantages of this transition, and how does it align with curls goals of enhancing security and sustainability? Because obviously, the way things are right now, they are much better and are different. But what is the proof of stake move going to do? Is it going to remove monstrous consumptions of energy, which is the bane of proof of work worldwide, or what is it going to do?

Explaining Proof of Work and Proof of Stake

So I. The root of this question comes down to PoS versus Pow, right? So, for our users, for our listeners, we'll describe the difference. I'll describe the difference quickly and then try and answer your question. Now, proof of work is what bitcoin and what is maybe a couple other altcoins still use. Ethereum started on proof of work, but with that is essentially just trying to solve a really difficult cryptographic hash. It's just trying to solve a really difficult math problem. And the way you solve proof of work, you built.

Understanding the Mechanics of Blockchain

The way you find a block on bitcoin is you just, you take a bunch of random numbers and you multiply them together randomly and wait until you get. Wait until you find an answer that's good enough, that's. That's within the leading number of zeros of the answer you're trying to find. So it's just a really difficult math problem to solve that you just solve randomly. Just brute force. Proof of stake, the consensus is done, is the consensus, the weighting of the consensus on who gets weighted in order to have a say in the creation of the next block gets weighted on against how much of the coin of that.

Incentives for Stakeholders

Of that blockchain’s coin that you put up or that you put on the table, essentially, and then you lock up into the consensus mechanism. So that's what proof of stake is. So, between the two, one, the bitcoin, the proof of work relies on math, and proof of stake kind of really relies on human behavior, expected human behavior. Yeah. In other words, if. If. If I have. If I've got 10% of a coin's, if I own 10%, if I've got 10% of a coins of coins staked into a project, I'm gonna do whatever.

Human Behavior and Trust in Blockchain

I'm not gonna do anything. I'm not gonna misbehave on the network. I'm not gonna be a bad boy. Right? I'm gonna be a. I'm gonna be the squeakiest clean guy there cuz I'm not. I don't want to get slashed. And, you know, I like money, so. And that's. But that's human. You don't want your tokens. But, but here's the thing with people. It's the human equation, right? Some people aren't interested in money, some people aren't interested in power.

Potential Risks and Human Behavior in Blockchain

Some people maybe just want to see things burn. I don't know. Or maybe don't want this project up. And they run some numbers and maybe it's, it's cheaper. I just. They decide that it's cheaper to buy up all the coins and then screw the consensus and eradicate the chain than it is to compete with them. Maybe someone decides that doesn't happen in proof of work because you'd have to buy more computing power and then the difficulty would increase. Right?

Perspectives on Different Consensus Mechanisms

Okay, so that being said, my personal view on proof of work versus proof of stake is that there's an ecosystem and use cases for both. I don't prefer one or the other. I like the purity of proof of work, but I like how green proof of stake in and how the community has accepted it as being a very viable consensus mechanism. With that being said, we're moving to proof of stake because first of all, it's greener.

Market Dynamics and User Engagement

Second of all, we want to be able to have our users be able to earn, like, essentially earn passive income by investing in something they believe in. And you can do that with proof of stake. You'll see, you'll hear some, you'll hear some principle based arguments about proof of stake being, oh, it just makes the rich get richer or, okay, but at the same time, remember when I said everybody buys bitcoin at the price they deserve?

Critiques and Discussions Around Economic Fairness

Well, if it's just rich gets richer, then buy it now, then stake it, and then you won't have to say the rich got richer because you ended up on the rich side. So people love the, you know, people love to bitch about missed opportunities, right? And make external attributions for everything that goes wrong in their life and internal attributions for everything that goes right in their life. So that's just human nature. And I brought in the human nature partially because of the psychology behind proof of stake.

Further Reflections on Proof of Stake Implementation

So, yeah, you know, just following up with what you said, I really want to ask a question of proof of stake for QRL. You know, obviously it's a very difficult process to stake in Ethereum, because as you said, the rich get richer and to be a part of that system and to actually Ethereum. But those guys took and they put it up, they staked it. They put their money where their mouths were. And the people that didn't look back and they say, oh, it's not fair.

Dynamism of Blockchain Markets

No, you took the risk. That's the thing about blockchain, is you get the risk is equate. The risk and reward are closer together and more pure. The price discovery is more pure than other ecosystems. Everything else, you know, between Wall street, the financial system, fiat currency, all of that stuff, this is a pure form of monetary transactions.

Understanding Market Mechanisms

I interrupted you, sorry. Please. No, actually you followed up a very great point, because what you said is going to support what I'm about to say next. Obviously, the fact that Ethereum staking is becoming, what was I going to say? Less and less accessible is the fact that the price of ETH is going up. And obviously not a lot of people are going to have that amount of money to stake Ethereum and be a part of that minting process.

Concerns about Accessibility in Ethereum Staking

Which makes me come to my next conclusion. The fact that at some point, the price of Ethan might go a certain amount, which is going to be just impossible, which is going to make it impossible for any new people to get into that ecosystem and mine ethereum. And so it's going to be the same guys over and over again, just mining and mining and mining. And no other people are going to join because it's going to become more and more difficult, it's going to become more and more expensive.

Implications of High Market Prices

What do you think about that? What do you think about the future inaccessibility of staking ETH? Because, I mean, it's around $100,000 right now. What if it becomes $150,000? What if it becomes $200,000? Okay, yeah. And not a lot of people have that money in the world. Here's the thing, a lot of people don't know this, but remember, I was talking about monetary history. The world has a new, the world has a new monetary system.

Future Developments in Monetary Systems

Like every, there's some sort of something new, like every 40 years or so. And as an American, we're fortunate, at least at this point in time, to be the world reserve currency. So when we deficit spend, we are eroding purchasing power for dollars that are held in other countries. Right. So with the next monetary system, presumably blockchain. Right? Yeah.

Market Disparities and Economic Predictability

There's, there's going to be winners and there's going to be losers, and the winners are going to be the ones. Remember, think about blockchain still. It's pretty. A lot of people still don't understand. Many, most people still don't understand bitcoin, don't understand ethereum, don't understand blockchain. But to me, it's almost like universal poetic justice in that perhaps when, you know, not that I want you to succeed, and I want everyone to succeed.

The Future of Blockchain and Big Changes Ahead

Yay. Right? You know, let's make the minimum wage $100, and everyone can be rich. You know, I want people to succeed. But I gotta be honest, you know, I wasn't real thrilled when you were laughing at me when I was talking about bitcoin or ethereum or whatever, and I decided to make my own move, and I did that, and I took the risk. I put my. I put real money up.

Market Influences and Value Perception

So with. In a really. In a free market, in a. In a capitalistic, free. In a true capitalistic free market, there's price discovery. And that price discovery is based on the market and not governmental influence or other things. I'm not saying bitcoin is perfect. I'm certain there's big money and socialized dollars or socialized currencies or socialized fiats that are manipulating the price.

Understanding Market Manipulation and Its Effects

But at the same time, even if the price is being manipulated, there's one thing that you can be, that they can. One thing you can have that they can't take away from you. They can't take you off chain. You can go on chain. They can't take you off chain. Now, quantum computing is obviously the exception to that rule, right? But once you.

Resilience of Blockchain Technology

What if you're. If you're on chain, then you're on chain. No one. No one, classically no one can take that from you. Now, you'll hear stories about the FBI seized bitcoin, or there was a seizure, and they. If you pay it, if you read the article, you'll. The FBI will. In organizations, authoritarian organizations, will never tell you how they were able to confiscate it.

Methodologies Behind Bitcoin Seizures

I'm certain that it was through some sort of, you know, well, coercion, right? I mean, they can't just change. They can't just take. They can't just take the. There's not a supercomputer known in existence that could do what a sufficiently powerful quantum computer could do. So my whole point is it's. It's almost, this is the natural cycle of things. Strong men create.

The Cycle of Strength and Weakness

Strong men create weak times and weak times create strong men. Everybody gets it at the price they deserve. And the ones. At some point I think there's going to be a lot of people out there saying, whoa, this isn't fair. Well, it kind of is, because I gave you the information years ago and he said I was crazy, which I might be, but just not for that reason. Half joke.

Diving into Blockchain Comparison

I mean, get it? And a comparison with the bitcoin me of the medieval times and some banker coming up to and giving him the equivalent in paper. And that guy. What are you about to do right now? Are you scamming me? Right, that's from 1994. I'll let everyone guess which movie. Yeah, I don't know what that movie is.

Discussion on Quantum Resistance

I have not seen a lot of conclusive one, which is the conclusion of this podcast. I think we've had a lot of good times, but now the time has come for the contest that we have been hosting on our Twitter, and we have received a lot of great questions from our Twitter followers and our community over on Telegram. And there have been three chosen by Michael himself. And the first one, rajubhai 100. If you're here, congratulations, you have one. The question reads, could the development of quantum resistant blockchains lead to the emergence of new consensus, which is very akin to what we're, you know, possibly proof of stake? And if so, what might these new mechanisms look like? And how could they improve upon existing ones?

Mechanisms Behind Consensus in Blockchains

So the reason I really liked this question is it gives the opportunity in the answer to differentiate the different attack vectors between the consensus mechanisms, the dsas. Right? So, as we talked about earlier, the consensus isn't really. Isn't really the problem here. The proof of work isn't really the problem. The proof of stake isn't really the problem how the transactions are signed on the network. The DSA is really the problem. Now, with that being said, I'll never underestimate the innovation and creativity of blockchain developers to come up with something that has a quantum function in it for the consensus, or come up with something new that perhaps I haven't thought of.

Communicating Consensus and Risks

But at the end of the day, everything on the project here that we're focused on is all about the DSA and not about the consensus. Consensus should be fine. And as we already talked about the pros and cons of Pos and PoW. Right? So I don't think the quantum computers won't, will not affect consensus as nearly as much as they affect the essays. So the nodes communication between each other, not the workloads that they're actually doing, not the cycles that the cpu's are spending. That's not really at risk, but the communication to, between each other is how they communicate and exchange the public key in order to prove the validity of the transaction that was sent to the network.

Future Blockchain Readiness

That's what's really. That's what's really at risk. That was actually a very good answer to that question. I was actually surprised you mentioned it before, but I think I only now fully understand it. The fact that you just need to smooth out and chisel the hard bits of this process and everything will be okay. But you know, I'm really excited to what the future holds in that segment. Now, moving on to our next question. It comes from our followers here. And the question reads, how do you assess the readiness of current blockchain projects for quantum resistance? Any notable examples of projects that are already implementing or experimenting with quantum resistant technologies? I mean, of course, apart from QRL.

Critique of Current Blockchain Projects

Yeah, so there are. With this. I picked this question because I wanted to be able to dig into the ecosystem a little bit. There's a lot of terminology out there as you're looking at other projects like Quantum friendly, or indications that they're thinking ahead of quantum, but they're not actually doing anything. Remember, I'm not going to name the projects, but there's one project where there's a lot of capital invested and they've got a white paper and there's a lot of marketing and they're prove in their quantum secure. But there's no chain, there's no actual chain. It's just a chain that's supposed to come in the future. And they've got like some silly market cap, like more than. More than you would expect.

The Reality of Cryptographic Standards

And there's other projects that are built but using cryptographic standards that were deprecated and for one reason or another, or not considered to be long term pulse quantum secure by regulatory bodies that handle this type of thing. So. And if you remember what I said about Ethereum, Vitaliks in the. I love Vitalik. This is, this isn't fun. This, this is just fact. Well, we all love italic. Yeah. How can you not? Right. And his first step is to roll back the chain, you know, so, in bitcoin.

Examining Bitcoin's Potential

Bitcoin. Let me say this. This may surprise you as well. I'm gonna say this. Bitcoin. Bitcoin can. Hard fork to go post quantum secure. Okay. But the part that you will never hear is you will never be able to migrate all of the coins. So in order for bitcoin to migrate, you'd have to create a new DSA on all the nodes. So, you know, you could do a pulse quantum secure transaction. So you would take your old, your bitcoin that's on the chain now, and then you'd send it to yourself, but to a new address that's post quantum secure.

Challenges in Migrating Bitcoin

And then you'd have everyone do this that has access, that still has access to their wallets. But what about lost wallets? What about people that don't believe in quantum threat? What about people that don't know they have to do anything eventually bitcoin, like, just like bitcoin cash happened when bitcoin cash forked off of bitcoin. Because of a difference in ideology. I expect that you'll see a future bitcoin hard fork based on technology, not ideology, but this time technology, and that technology being quantum computers, and you're never going to be able to get everyone to migrate.

Addressing Bitcoin Losses

Some keys are lost, some bitcoin are lost. People have become not alive. How do I say, and there's the. Best way to put it. Some people are unalive anymore and you're just not in. Not every. Some wallets could be saved, but at the same time, if you can't migrate everything over, to me, that compromises the integrity of the project as a whole. For example, if you were to go to your boss and you were to say, let's say there was a database problem, and you say, oh, okay, here's the good news, boss.

Consequence of Accountability

We got the per. We got all of the. All of our account list and all the balances. That data was not lost. We now know where the money is. But here's the bad news. I lost 30% of the accounts, but we got the other 70. So if that's a metric for success in a disaster, is 70, you know, 30, 40% loss of bitcoin, then, yeah, okay, you can hard fork bitcoin. The way to solve this problem is to not have the problem in the first place, which is what we did post quantum secure since the first block.

Vision for the Future of Blockchain

So there is no migration plan for us because we don't need one, because we built it into the first block knowing that this problem was coming. That makes perfect sense to me, and I hope it does to all the listeners. And of course, gaming snaps that. Ask the question with that in mind to make sure that you are safe from any future threat. You're obviously going to have a better time and that moves us to contest winner, which is shidi bere bo. If I did, I'm very sorry. And the question reads, what are the practical implications of transitioning to a quantum resistant blockchain for both developers and end users?

Future Planning for Quantum Resistant Blockchains

And how does QRL Ledger plan to facilitate this transition without disrupting existing functionalities? This question was partially answered, but I guess. The first answer to this question is we don't need to because we're already transitioned. We built the transition into the project from the beginning. The second part is the same answer, but let's extrapolate a little bit on what a plan for an altcoin would look like. For bitcoin would look like. I think we talked about a little bit already.

The Mechanics of Changing DSAs

Essentially what you need. I think I mentioned it like 510 minutes ago. You'd need to build in another ESA, another way to sign transactions. You need to build that module or subroutine or function into a node. Then you'd add everyone migrate, you'd send out, you go as public as possible, have everyone take their bitcoin in their current ad, in their current wallet and forward it to the new address. But here's the kicker. There's two qualifiers with this working.

Consensus and Migration Challenges

First off, you have to, you have to pick a block of when you're going to deprecate that Oldena DSA, right? When you're gonna shut it down. You can't leave it there because eventually quantum computers gonna come in and, you know, take advantage of that. So you got it. You have to shut down that DSA. And when does that happen? I don't know what you have to, you have to, somebody has to pick something. You have to reach consensus on it.

Moving Forward with Security Building

And that consensus has to be spread across all nodes. And you'd have to agree on a post quantum secure DSA, like maybe lambda import signatures or something like that. But all of these migrations look the same. You put, you put, you drop down to the node, you install another way to do another DSA, another addressing scheme, and then you take your bitcoin and you forward it to that. Then you wait a period of time for everyone hopefully to get migrated over. And then there's some sort of consensus that arbitrarily creates a block height.

The Final Steps in Migration

And then at that point on, all of the nodes agree that we're no longer going to accept elliptical curve cryptography, dsas, the legacy dsas that bitcoin started with. And that's what the migration would look like. And you're not going to get all the users. Like I said, you can't, you just can't reach everyone, so you just won't be able to do it. And that's how. That's for the users. The users would need to migrate for the developers.

The Complexity of Hard Forking

We're talking about a hard fork. We're talking about the type of hard fork that it would probably be. The complexity and the consensus required I. And the communication is probably would be the most difficult hard fork ever attempted. I think just based on the scale, based on the number of nodes that need to be updated, based on just trying to get through the narrative of the quantum and bitcoin intersection threat, just to be able to communicate that and convince other people.

Navigating Through Blockchain Challenges

And again, this is one of the parts of blockchain. I don't think you're going to convince everyone. I think some people are, they're just not going to care and, you know, that's. That's them. That's them doing them. So high five, fork it, you'll end up. So in the future, you end up with BCH, maybe BCQ as the new bitcoin and maybe LBTC as legacy BTC or something like that. Hard forks by design, hard forks in bitcoin happen all the time and then they're eventually remediated by the network itself.

Looking Ahead in the Blockchain Ecosystem

Yeah. But I think that you're going to have there, you're not going to get all the addresses and at some point you have to delete the old DSA and at some point someone's not going to do that. So the old chain will stay running. All it takes is one node for a chain to stay alive. Right. In one minor. Right. Yeah. And then you could maintain. That's how bitcoin cash is being maintained. You know, separate.

Future Predictions and Trends

A separate. It's bitcoin, but it's a different set of rules for consensus. So I foresee three forks of bitcoin in the future. In the next, let's call, I'm going to say probably five years. Probably in about five years. That's a slightly on the optimistic approach, on the pessimistic side. Ten years. So it would probably take a cycle of halving for that to take effect for those forks to go through because, I mean, when we're looking at for the mining, I mean, obviously it has dropped to around three bitcoin per block right now, but it was six before.

The Mining Cycle and Future Adjustments

And when it becomes 1.1.5, it's going to be even less and, you know, even more. The n bits difficulty rating is going to be remediated because obviously this process is on all of the integers that are present in it. So if, for instance, hi, the n bits difficulty will increase and mining a block is going to take a lot more computing and processing power in the same ten minutes, and you're going to get less goes down, the embits difficulty is going to be less difficult, essentially, and that's how that process is just remediated.

Critical Considerations in Migration

Let me bounce one more thing off you, and this is really important. You won't hear this anywhere else. Remember when I said you have to migrate your bitcoin? That's a transaction. That's a TX, that's a transaction output. Right. So how many bitcoin wallets are there that would need to transition, that would need to migrate? And what's the transaction per second on bitcoin? I think it's like three to seven tps on bitcoin, I think. But there are, let's see, number of normal current estimates, around 50 million to over 100 million unique bitcoins.

Migration Dynamics and Challenges

Bitcoin wallets on the chain. In order to migrate to post quantum secure, just to be able to have the transactions necessary to move to the new DSA would occupy the entirety of the block of the bitcoin transaction space for what, months, years maybe. Because there's around 2000 transactions every ten minutes. And during that time, I'm not talking about any other transactions. I'm not talking about even using the network. The only thing I'm talking about is migrating.

The Saturation of the Network

The migration process would take so much computational power that it would saturate the bitcoin network just to be able to migrate. In order to migrate the funds. Yeah. Saturate in what way? With the TPS, the transactions per second based on the number of wallets that would need to migrate, the entire mem pools would be not, wouldn't be filled with bitcoins sent from person a to person b.

Exploring the Lockdown on Transactions

The entire trip mempool would be filled with bitcoin sent from person a to person a. Trying to go post quantum secure to get it. Yeah, the same output. Yeah. But you're not, with all the blocks. Being miles money to anybody, you're just trying to get yourself safe. Yeah. Right. And that's gonna, that would be all of the transactions for months with no.

Effects of Transaction Freeze

With no utilitarian or exchange of value, with no nothing trading hands, just to just upgrade your wallet. Yeah. And all the nodes. They still have the rewards because they're still TX outputs, they're still Utxos. They'll get the rewards for the migration because they're completing the blocks and I. They'll go into the blocks and the rewards are based on the blocks, not on the type of transactions right now.

Essential Mechanics of Migration

I mean, you can pay a certain gas fee. So, okay, so, but that. So, so then it becomes unusable for people that aren't willing to spend inordinate premiums on their transactions. Yeah. Right. So at the same time, the result is the same. Some people can't do transactions. And when I say can't, it's like because, okay, well, maybe, you know, I don't want to pay $200 to migrate my wallet.

Economic Implications of Migration

Yeah. No one would do. Well, I can't imagine, you know, if you've got $100,000, that's a drop in the bucket. You know, if you've got a one and a half, just one of bitcoin, that's a drop in the bucket. It'd be more feasible to move to a new wallet altogether, the one that is already quantum. The problem is not with the wallet, the problems with how the DS, the nodes in the DSA is how they talk to each other.

Technical Limitations and Upgrades

Yeah. So once you, once you implement the pulse quantum secure DSA on the nodes, then you would implement that functionality to be able to speak that new DSA into the wallet. So wallets. Well, it's not the problem. The wallet could be upgraded. The problem is the DSA, the elliptical curve. It's sccpk. Two hundred fifty six k one. Those are the parameters of the ECC.

Math Behind Cryptographic Standards

That's the digital, that's the math on the DSA, if you want to look it up. Yeah, I'm definitely going to look that up along with the YouTube videos, which I, of course, recommend to all our dear listeners to do too, because this is going to give a bigger insight on what the topic of this podcast was, what we have been discussing so far. We essentially, from history of the.

Expanding Knowledge on Quantum Threats

Something that goes beyond our expectations right now. I mean, not beyond our expectations, but beyond our capabilities probably right now. And a very good amount of insights into what post quantum potential threats are, what has been and what is working right now, and what we in terms of blockchains themselves. With that being said, I just want to give you a question, Michael.

Future Vision and Strategic Planning

So with everything that is going on right now and with everything that you're doing right now, where do you see yourself in five years? I know, it's, I know it's kind of lame, but, you know, URL being the only ones out there that are doing this, I can imagine that there is going to be a frontier type project type. But what do you see? I see at some point either there's going to be enough, there's going to be news or enough rumors or some sort of fud that gets either legitimate or artificial.

Forecasting the Quantum Landscape

Like I said, just a rumor of a quantum computer because you have to remember, we don't really know where these things are at because you have the brightest minds in the world working under a veil of secrecy, top on a, top on top secret projects. We don't really know. And I've compared this talk to my other talk to our community. You have heard me compare this to the degree of secrecy to something like the Manhattan project.

Secrecy and the Quantum Threat

So in other words, like if you were, if you had, well, think about it, information nowadays is mightier than swords and explosives even, right? Yeah, obviously. And if you have the ability to, if you as a nation state, if you have the ability to listen in on other Nate's and other states, encrypted communications, a lot of which goes over the Internet, you're not, that's going to be a deeply held secret. That is going to be, that's going to be classified at the highest levels of intelligence.

Navigating Future Developments

So we don't really know where these things are today. But at some point in the future, I'm going to envision rubber hitting road, traction, getting traction getting made, panic setting in and some sort, and I don't know what it looks like after that, but I envision, while everyone's trying to figure out and understand the pulse quantum threat, I won't have much anxiety about it. People on the team.

Impacts on Users and Development

The people that have listened and the people that are using QRL and the people that are going to swap space. I mean, obviously, we're the ones that with things a lot clearer and a lot more complex, learning about this is definitely worth your time. So to all our dear listeners, I highly endorse the fact that you research, find out information and of course, make yourself known about past and things present.

Closing Statements

You know. I want to throw one other thing into. That comparison. And you're making that prediction in the future about if it be a secret and that just. The Internet, long before it went with. DARPA in the sixties, it was used. Yeah, yeah. It was used by the Terry and everything. And so when I was growing up. They called it the great information superhighway.

Emergence of Blockchain Technology

Let me give it thumbs up. If anyone remembers that, go ahead and age yourself. I did not know that, but I do know now, and I thank you for. I just want to clarify one other thing. We have our fork. I remember I was talking about hard fork. Coming up in the next few months, three to six months, we are going to be enabling EDM solidity compatibility, which means if you can write a contract, a smart contract on Ethereum, you'll be able to write a pulse quantum secure contract on our chain.

Building Compatibility with Ethereum

Think about the possibilities there. If you can write, we'll be able to duplicate the. We're gonna, we're gonna essentially make it, make the programming language for Ethereum compatible with ours. I'm not talking about talking to Ethereum. We can't talk directly to Ethereum because Ethereum uses elliptical curve non pulse quantum secure. But if you can, if you want to write it, if you want to, let's say you want to talk to your customers and you've got a project and your customers are talking quantum, you could easily write your contract to our.

Potential for Smart Contracts

Chain and say, yeah, I loved every bit of it. And I hope that all of you, our dear listeners, did as well. Be hard to process, but things that definitely are important in a way, and. I'm losing you a little bit. I lost. I lost the last 30 seconds. I don't know if everyone else did. I'm assuming so, yeah.

Addressing Connection Issues

I just realized the fact that it was my connection that went down. So I'm very sorry about that. But I am back, and you were just starting to say your thoughts, Michael. So can you do that again? Yes. What I was saying was, in our hard fork update coming up, we are enabling, we're migrating from proof work to proof of stake. We're also upgrading the DSA.

Future Developments in QRL

We're making a new DSA, the lithium Kyber. We're implementing that. That's an NIST standard now as of like two months ago. But we are also enabling EVM, Ethereum EVM compatibility for ERC 20. So if you can program in solidity today and write a smart contract and put it on Ethereum, with some minor tweaking of that smart contract, specifically the addressing type and a couple other things, you'll be able to take that smart contract and run it on QRL's network.

Clarifying Blockchain Interaction

Now, I'm not talking about QRL and Ethereum talking to each other. That's not what I'm talking about. The two blockchains are separate verticals, but being it, you could, you'll be able to take that code and write it to our chain. And if your customers have. If your customers have, if you're a blockchain project and you've got customers that are pulse quantum, that are quantum nervous, you can say, hey, I agree with you.

Future Partnerships and Collaborations

That's why we also run our smart contract on QRL. Now, how the integration and the duplicity of that contract running on both blockchains, that the creativity would be left up to the blockchain developers themselves. But we're given the option, and we've also developed unique cryptographic primitives in house that will help future blockchains go implement post quantum security. We're not primarily first and foremost, we're a nonprofit organization and with a large educational arm.

Concluding Thoughts

So we're open to partnerships with other people that might be considered competitors in other spaces, but they'd have to be, it'd have to be mutually beneficial. So I think that's all I got. Yeah. Of course, partnerships are always a great thing. And of course, for a project like QRL, it's going to be more than significant, of course, especially considering the fact that, as you said multiple times, that it's a nonprofit organization.

Education and Outreach in Blockchain

And the main premise and the basis of it is, first of all, an educational purpose to just enlightening all the people about it and giving people a better offer or a choice. And I love that. And I think that's going to be it for me, too. I just want to mention quickly that QRL is available at our website, Swapsabase Co.

Promoting Research and Careful Trade

You can buy it, trade it, and do whatever you want with it. Of course, with the information in hand, never forget that you should do your own research and keep just learning, keep visiting our swap space huddle and listening to our expert guests and their insights. And that is going to be it for today. We hope you will tune in next week.

Looking Ahead to Future Engagements

We're going to have a new guest, which is kind of a secret right now, but we're going to be making that information public very soon, making announcements. And I hope you enjoyed your time here. Stay safe out there and bye. Thanks, everyone. See ya.