Cryptocurrency

QRL’s Ethereum Powered Web Wallet Under Audit Scan

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The cryptocurrency security systems have been receiving constant threats from the emerging quantum computers, which, according to some analysts, have the potential to “completely shatter” the internet securities of cryptocurrencies. To combat this threat, the Quantum Resistant Ledger (QRL), which is a decentralized communication layer, has launched an Ethereum powered web wallet and named it enQlave.

enQlave is responsible for tackling the threats coming from Quantum Computers by allowing users to secure their ERC20 or Ether tokens from this devastating “Quantum Theft,” thereby becoming quantum resistant. Being quantum-resistant means that a decentralized blockchain network has the potential to combat unprecedented attacks from quantum computers, thereby maintaining security and ensuring that no user funds are compromised.

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To ensure efficient operations of project enQlave, the QRL team has contacted the x41 D-Sec to carry on its audit. x41 D-Sec is one of the audit firms that carried on the external audit of the cryptographic portions of the QRL codebase. Therefore, x41 D-Sec is considered an appropriate option to carry on the audit procedures of QRL’s newly launched Ethereum powered web wallet enQlave.

The QRL or the Quantum Resistant Ledger is a crypto-based communication layer developed on the Python programming language that focusses on combating future attacks from the emerging quantum computers. This decentralized communication layer and post-quantum value store was founded by a crypto expert named Peter Waterland, who realized that it was high time to ensure protection to Bitcoin, Ethereum, and other similar cryptocurrencies against future emerging technologies.

As per reports, the audit of enQlave will soon commence within the next few months and would take a few weeks to complete it. The audit will cover a full code review, and the smart contract code testing will eventually play a crucial role in securing the fundamentals of the codebase.

According to the QRL team, the focus will be on QRL’s Proof-of-Stake (PoS) network, lattice cryptography, and signature aggregation. Focusing on these three elements will reduce the overall block size and improve the overall scalability by allowing a more significant number of validators per epoch.

As per the QRL developers, they are still some “weeks away” from their PoS devnet, which will be launched to a public testnet only after authentic testing. With the launch of this much-awaited PoS devnet, QRL’s developers are very much hopeful to address the potential threats coming from the quantum computers that can disable blockchain-enabled networks and their security systems.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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