Quantum Resistant Ledger (QRL): how it works, supply and reviews
In short
- Type
- Public blockchain secured by XMSS post-quantum signatures.
- Maximum supply
- 105,000,000 QRL eventual maximum supply.
- Risks and caveats
- QRL 2.0 is not on mainnet yet; migration testing from QRL v1 to v2 is still an open roadmap item.
- Checked
- 1 November 2026
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Key facts
- Ticker
- QRL
- Official site
- theqrl.org
Key facts checked on 1 November 2026 against official sources.
What is Quantum Resistant Ledger
The Quantum Resistant Ledger (QRL) is a public blockchain whose transactions are signed with XMSS, a hash-based, forward-secure post-quantum signature scheme. The current network uses proof of work; a successor network, QRL 2.0, is in public testnet.
Network and consensus
| Parameter | Details |
|---|---|
| Type | Public blockchain secured by XMSS post-quantum signatures. |
| Signature scheme | XMSS, which the project describes as a NIST-approved post-quantum signature scheme. |
| Consensus | Proof of work with the RandomX algorithm; proof of stake is in development. |
| Block time | Target block time of 60 seconds. |
| Launched | Mainnet launched on 26 June 2018 after a year and a half of public testnet and a security audit by Red4Sec. |
| Multisig | Supports weighted m-of-n multi-signature addresses. |
| Next network | QRL 2.0 (Project Zond) is built to run on proof-of-stake consensus. |
| Chain status | Block 4,404,550 was produced at 02:46 UTC on 1 November 2026. |
Supply and issuance
| Parameter | Details |
|---|---|
| Maximum supply | 105,000,000 QRL eventual maximum supply. |
| Initial distribution | 65,000,000 Quanta at genesis: 52,000,000 public and 13,000,000 reserved. |
| Issuance | 40,000,000 Quanta emitted to miners on an exponential decay schedule over about 200 years. |
| Block reward | 1.282644911 QRL per block (periodic snapshot on the tokenomics page). |
| Foundation reserve | 8,450,001 QRL held as foundation reserves (periodic snapshot), excluded from circulating supply. |
On 1 November 2026: 71,029,693 QRL in circulation, 79,928,155 QRL in total (source: QRL official block explorer API).
What QRL is used for
- QRL is paid to miners as the block reward through a coinbase transaction.
- On QRL 2.0, holders are meant to stake QRL to validate blocks once proof of stake replaces mining.
Who develops and governs Quantum Resistant Ledger
- Foundation
- Die QRL Stiftung (the QRL Foundation), a not-for-profit organisation based in Zug, Switzerland.
- Legal entity
- Registered domicile c/o STAX AG, Bahnhofstrasse 21, 6300 Zug, Switzerland (terms of service effective 9 November 2020).
- Role of the foundation
- The foundation supports development of the QRL blockchain.
- Open source
- Code is open source under the MIT licence on GitHub.
- Custody
- Wallets are self-custodial: the foundation does not hold keys and cannot reverse transactions.
- Latest release
- Core node v4.0.12 was published on GitHub on 11 October 2026.
History
| Date | Event |
|---|---|
| 16 October 2016 | The first public commit of the QRL code appears. |
| 26 June 2018 | QRL mainnet launches after a public testnet and a Red4Sec security audit. |
| 2 June 2022 | An attacker mines a block with a second 25M QRL coinbase reward; the team restores all but 322.9 QRL to the emission address. |
| December 2022 | A public devnet pre-release of QRL 2.0 opens with the QRVM and the Hyperion Solidity fork. |
| 2025 | QRL 2.0 Testnet V1 is released with Dilithium 5 signatures and a new address format. |
| 2026 | QRL 2.0 Testnet V2 brings ML-DSA-87 signatures, a web3 wallet and smart contracts. |
| 24 August 2026 | QRL transactions become available for monitoring in Chainalysis KYT. |
Security and audits
- Before mainnet the code was audited by Red4Sec; a second audit by x41 D-Sec followed the next year.
- QRL 2.0 libraries were audited by Halborn (qrypto.js, 13 findings resolved) and Trail of Bits (go-qrllib, 15 findings resolved).
- The QRL Foundation runs a discretionary bug bounty for in-scope open-source code.
- In June 2022 a block-validation bug let an attacker create 25M QRL; the team added a validation check and restored all but 322.9 QRL.
Security incidents
| Date | What happened | Source |
|---|---|---|
| 2 June 2022 | Exploit: Zero-day attack: an attacker mined a malformed block containing a second coinbase reward of 25M QRL. Exchanges were notified to halt deposits and withdrawals. Funds returned: All but 322.9 QRL of the 25M were restored to the emission address; 322.9 QRL were lost via deposits on an exchange. | theqrl.org |
Risks and caveats
- QRL 2.0 is not on mainnet yet; migration testing from QRL v1 to v2 is still an open roadmap item.
- The project warns that migrations attract impostors and that guidance will come only through official channels.
- The 2022 coinbase exploit showed that a block-validation bug could be used to drain coins from the emission address.
- Self-custody: the foundation cannot recover keys or reverse transactions.
Official links
- Website: www.theqrl.org
- Docs: docs.theqrl.org
- Whitepaper: github.com/theQRL/Whitepaper/blob/master/QRL_whitepaper.pdf
- Source code: github.com/theQRL/QRL
- Block explorer: explorer.theqrl.org
- Web wallet: wallet.theqrl.org
- Roadmap: www.theqrl.org/roadmap
- Bug bounty: www.theqrl.org/bug-bounty
Questions and answers
What is QRL?
The Quantum Resistant Ledger is a blockchain launched on 26 June 2018 that signs transactions with XMSS, a hash-based post-quantum signature scheme.
What is the maximum supply of QRL?
105,000,000 QRL. 65 million existed at genesis and 40 million are emitted to miners over about 200 years; the explorer showed about 79.9 million on 1 November 2026.
How does QRL work?
The current network uses proof of work (RandomX) with a 60-second target block time. QRL 2.0, with proof of stake and EVM-style contracts, is on public testnet.
Who is behind QRL?
Die QRL Stiftung, a not-for-profit foundation in Zug, Switzerland, supports development; the code is MIT-licensed on GitHub.
Has QRL been hacked?
On 2 June 2022 an attacker exploited a block-validation bug to create 25M QRL. The team added a block-validation check and restored all but 322.9 QRL.
Sources
- QRL - official website
- QRL - Tokenomics
- QRL - Roadmap
- QRL - QRL 2.0 (Project Zond)
- QRL - 10 years of post-quantum digital asset security (blog, 16 October 2026)
- QRL - Zero-day coinbase exploit post-mortem (blog, 21 June 2022)
- QRL - Terms of Service
- Die QRL Stiftung
- QRL - Weighted multi-signature transactions
- QRL - Proof of Stake
- QRL - Bug bounty
- QRL - Now live in Chainalysis KYT (blog, 24 August 2026)
- QRL explorer - status API
- QRL explorer - total supply
- GitHub - theQRL/QRL release v4.0.12
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