[Crypto projects](https://revain.org/projects/) › Quantum Resistant Ledger

# 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

## Key facts

- **Ticker**: QRL
- **Official site**: [theqrl.org](https://www.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](https://explorer.theqrl.org/api/emission/text)).

## 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](https://www.theqrl.org/blog/qrl-zero-day-coinbase-exploit-post-mortem/) |

## 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](https://www.theqrl.org/)
- Docs: [docs.theqrl.org](https://docs.theqrl.org/)
- Whitepaper: [github.com/theQRL/Whitepaper/blob/master/QRL_whitepaper.pdf](https://github.com/theQRL/Whitepaper/blob/master/QRL_whitepaper.pdf)
- Source code: [github.com/theQRL/QRL](https://github.com/theQRL/QRL)
- Block explorer: [explorer.theqrl.org](https://explorer.theqrl.org/)
- Web wallet: [wallet.theqrl.org](https://wallet.theqrl.org/)
- Roadmap: [www.theqrl.org/roadmap](https://www.theqrl.org/roadmap/)
- Bug bounty: [www.theqrl.org/bug-bounty](https://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](https://www.theqrl.org/)
- [QRL - Tokenomics](https://www.theqrl.org/tokenomics/)
- [QRL - Roadmap](https://www.theqrl.org/roadmap/)
- [QRL - QRL 2.0 (Project Zond)](https://www.theqrl.org/2/)
- [QRL - 10 years of post-quantum digital asset security (blog, 16 October 2026)](https://www.theqrl.org/blog/10-years-of-postquantum-digital-asset-security/)
- [QRL - Zero-day coinbase exploit post-mortem (blog, 21 June 2022)](https://www.theqrl.org/blog/qrl-zero-day-coinbase-exploit-post-mortem/)
- [QRL - Terms of Service](https://www.theqrl.org/terms/)
- [Die QRL Stiftung](https://qrl.foundation/)
- [QRL - Weighted multi-signature transactions](https://www.theqrl.org/features/multisig/)
- [QRL - Proof of Stake](https://www.theqrl.org/features/proof-of-stake/)
- [QRL - Bug bounty](https://www.theqrl.org/bug-bounty/)
- [QRL - Now live in Chainalysis KYT (blog, 24 August 2026)](https://www.theqrl.org/blog/qrl-now-live-in-chainalysis-kyt/)
- [QRL explorer - status API](https://explorer.theqrl.org/api/status)
- [QRL explorer - total supply](https://explorer.theqrl.org/api/emission/text)
- [GitHub - theQRL/QRL release v4.0.12](https://github.com/theQRL/QRL/releases/tag/v4.0.12)

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Page updated: 2026-11-01

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Source: https://revain.org/projects/quantum-resistant-ledger/