Quantum Resistant Ledger (QRL)
Quantum Resistant Ledger ranks #69 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #378: 309 of the 377 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 391 non-native assets CoinSpectrum lists above it by market cap, about 48% are claims on other assets, 45% are tokens, 6% are memecoins and 1% are NFT collections.
| CoinSpectrum Grade | B · 61/100 · provisional, B to A |
|---|---|
| Rank among cryptocurrencies | #69 |
| Rank counting claims | #378 |
| Market capitalisation | $59M |
| Price | $0.7546 |
| Circulating supply | 78,392,960 QRL |
| Maximum supply | 105,000,000 QRL |
| Consensus family | Proof of Work |
| Consensus mechanism | RandomX (quantum-resistant, XMSS) |
| Own hashrate | 88 MH/s |
| Ledger type | Single-asset ledger |
| Launch distribution | Presale |
Market figures from the 10 November 2026 build. Open the live view for every exchange's price, and charts.
CoinSpectrum Grade (Source)
B — 61 out of 100, provisional (from 9 of 10 sections, 10 November 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 50 to 69 (B to A).
| Section and criteria | Score | Basis |
|---|---|---|
| Consensus | 10 | average of 2 criteria |
| By leader (its largest chain's market cap) (Source) | 10 | Proof of work: 10 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| By family (all its chains' market cap) (Source) | 10 | Proof of work: 10 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Supply | 9.4 | the supply scale times 0.9, and a point for a fixed cap that holds |
| Supply (21 million scores 10) | 9.3 | fixed maximum supply of 105 million |
| Distribution | 5.1 | average of 3 parts |
| Holder concentration (Source) | – | Not yet measured |
| Active addresses | – | Not yet measured |
| Premine (allocated at launch) | 1.9 | 81.3% of today's supply allocated at launch to founders, a company, a foundation or investors. 65,000,000 QRL at genesis (June 2018): 52M to 2017 token-sale holders and 13M reserved (8M for QRL Foundation distribution), against total supply 79,908,141 QRL per theqrl.org tokenomics page (undated periodic snapshot). source |
| Fundraising (share sold) (Source) | 3.5 | Sold by its issuer or insiders: 65.1% of supply sold. The 2017 angel round and May 2017 public token sale delivered 52M QRL at genesis (June 2018); the 13M reserve was not sold. 52M / 79,908,141 QRL total (theqrl.org tokenomics snapshot) = 65.1%. Angel round of $2M (Jan 2017) followed by a public ICO 1-24 May 2017 selling 52M tokens at ~$0.0785 for ~$4.16M. source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. The 40M QRL emission (decaying over ~200 years) goes entirely to block producers; the QRL Foundation's share was the 13M genesis reserve, which is premine. source |
| Decentralisation | 6.7 | average of 3 parts |
| Governance (Source) | 10 | No authority can halt the chain or freeze funds: No freeze or admin key over user balances. source |
| No central team (Source) | 0 | A central team directs it: The QRL Foundation team maintains the only node (theQRL/QRL, MIT); go-qrl is for the separate QRL 2.0 chain. source |
| Who can mint (Source) | 10 | Open to anyone with hardware: anyone can produce blocks by mining, no permission needed |
| Nodes (Source) | – | Not yet counted |
| Security | 4.4 | 3.5 of 8 points source |
| Pool diversity (Largest pool 50% 0 to 20% 10, largest three 90% 0 to 50% 10; 2 points) | 0.4 | largest 86%, largest three 86.8% |
| Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points) | 0 | about 36 transactions a day |
| Hashrate (Own work 5, its power 1 kW 0 to 10 GW 5; 1 point) | 7 | own work 5; about 601 kW, 2 of 5; 1.3% of its algorithm's largest, not scored |
| Clients (Separate code and teams 10, separate code or teams 9, a fork by the same team or a stale second 8; one client: a new version within 12 months 7, 24 months 6, none in 24 months 5, none in 48 months 3; a second in development +0.5, a second seen running +1, 8 at most with one client; chain ended 0; 1 point) | 7 | one client, latest version Oct 2026 |
| Open source (Node software) | ✓ | |
| No 51% attack (Nor a deep reorganisation, five years) | ✓ | |
| Scalability | — | too few measures yet source |
| Fees ($0.001 or less 10, $1 or more 0) | – | not yet measured |
| Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5) | – | not yet measured |
| Block time (10 minutes 10, less either side) | 6.4 | a block every 1 minute |
| Block space per 10 minutes (24 MB or more 10: the ten busiest networks' median demand, 16.4 MB, and half again for growth) | – | not yet measured |
| Features (3 checks) | 0 | 0 of 2 passed, 1 not yet researched |
| Fast payments (Safe to accept within seconds · Whitepaper abstract, §1, §2 and §11) | ✗ | Proof-of-work blocks about every 60 s with probabilistic confirmation. |
| Pruned nodes (Old history dropped, every rule checked · Whitepaper §7) | – | No documented pruning mode found. |
| Light clients (Payments verified from headers · Whitepaper §8) | ✗ | The QRL node ships no SPV or other light client; wallets trust the node they connect to. |
| Privacy | 3.5 | 3.5 of 10: whitepaper privacy 3.5 of 7, extra features 0 of 3, 1 not yet researched source |
| Protocol level privacy (Keys not tied to an identity · Whitepaper §10) | 10 | Anyone can create keys and receive and send coins; the protocol carries no identity check. |
| UTXO ledger (Separate outputs, change to a new address · Whitepaper §2, §9) | 0 | An account ledger: one running balance for each address, so the remainder stays at the sending address and its payments share one public history. |
| HD addresses (A new address for each payment, unlinked · Whitepaper §10) | – | |
| Hidden amounts (Amounts confidential) | 0 | No confidential transactions; XMSS signatures are public. |
| Hidden parties (Sender and receiver hidden) | 0 | No sender or receiver hiding. |
| Network privacy (Origin hidden by default) | 0 | QRL nodes relay transactions directly. |
| Programmability | 3.3 | 3 of 9 points source |
| Token issuance (At protocol level) | 2 | Token transactions native to the QRL protocol since its 2018 mainnet, letting any address create a token for a fee. |
| Smart contracts | 0 | Fixed transaction types (transfer, token, message, multisig, slave); Zond's contract layer is not on mainnet. |
| Multisig and time locks (Without a third party) | ✗ | Weighted threshold multisig addresses since the Bromine hard fork (2020), but spend proposals carry only an expiry height, with no time-locked spending. |
| Atomic swaps (With other chains) | ✗ | No hash-lock or time-lock condition to express an HTLC. |
| Native DEX (Trades the coin itself, not a claim) | ✗ | No DEX found trading the coin itself: none on its own chain (DefiLlama), and not on THORChain, Maya, Chainflip, Komodo DeFi, BasicSwap, Bisq or Haveno (checked 2026-11-04). |
| Cross-chain messaging (Verified by the chain itself) | ✗ | No protocol messaging to other chains. |
| NFTs (Carried by the chain's rules) | ✓ | Native token transactions can create a supply-1 token; the QIP-014 NFT encoding on top of them is still a draft. |
| Demand | 3.4 | average of 7 measures |
| Exchanges (10 or more: 10) | 3 | 3 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 1.4 | $68,525 traded in 24 hours; #1923 by volume on the exchanges the site reads (scored on the median day of the last 30, $50,664) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 0 | 0.06% of its market cap a day, median of the last 30 days |
| Order-book depth (±2% of the price ÷ market cap, 1%: 10) | 4 | $9,569 within 2% of the price on 1 exchange, 0.02% of its market cap, median of the last 15 days |
| Market cap ($1M 0, $10B or more 10) | 4.4 | $59M, 4.4 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 10 | no futures, options or margin on the exchanges read |
| Wallet support (wallets that hold it, 10 or more: 10) | 1 | its own node and wallet, counted as 1: no wallet in the site's directory lists it yet |
| Record | 8.7 | average of 3 criteria |
| Age (years since genesis) (Source) | 9 | 9 full years since 2017-06-10, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, fixes, vulnerabilities) | 7 | 2 positive, 0 negative source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 46 commits in 7 of the last 12 months (github.com/theQRL/QRL); QRL v4.0.12, 11 Oct 2026; 7 releases in the last 24 months. |
| Shipped a security fix in two years, +1 | ✓ | QRL v4.0.7, 30 May 2026: fixed OTS key reuse detection beyond the first bitfield page (consensus validation); v4.0.8 tightened token balance validation. |
| Conduct (origin, claims, halts) | 10 | 3 positive, 0 negative source |
| Positive record | ||
| Launched with a stated purpose, not as a joke | ✓ | |
| No claims by its founders that contradict its own design | ✓ | |
| No halt, freeze or reversal in five years | ✓ | |
Ten sections, weighted equally, each 0 to 10: consensus (the two ladders), supply (the supply scale and a fixed cap that holds), distribution (premine, fundraising, developer share, holders), decentralisation (governance, no central team, who can mint, nodes), security, scalability, privacy, programmability (what the scripting layer can do beyond the whitepaper's payment system), demand, and record (age, development, conduct). They are built from the criteria in the second table: privacy, scalability, security and decentralisation are the Cryptocurrency Standards among them, as follows: privacy (the whitepaper's three checks a base of 7 of 10, three extra features up to 3 more), scalability (four measures and three features), security (pool diversity, network activity, hashrate, clients and two checks) and decentralisation (governance, no central team, who can mint, nodes, holders, premine, fundraising and developer share); programmability (token issuance, smart contracts and five checks) follows them, and supply and demand are two: the supply, scored against 21 million, and demand, the average of seven measures of the market and the wallets. Provisional: parts marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
Proof of Work coins
Bitcoin BTCA+
Zcash ZECA+
Dogecoin DOGEA+
Bitcoin SV BSVA+
eCash XECA+
DigiByte DGBA+
Nervos Network CKBAAll Proof of Work chains →Proof of Stake coins
Ethereum ETHA+
BNB BNBA
Solana SOLA+
TRON TRXA
Hyperliquid HYPEB
Cardano ADAA
NEAR Protocol NEARAAll Proof of Stake chains →Supply
78,392,960 of a maximum 105,000,000 QRL are in circulation — 74.7% of the total that will ever exist.
Launch and allocation
| Premine (allocated at launch) | 81.3% of today's supply |
|---|---|
| Sold by the issuer or insiders | 65.1% of today's supply |
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
| Fundraising | Public sale |
65,000,000 QRL at genesis (June 2018): 52M to 2017 token-sale holders and 13M reserved (8M for QRL Foundation distribution), against total supply 79,908,141 QRL per theqrl.org tokenomics page (undated periodic snapshot).
Angel round of $2M (Jan 2017) followed by a public ICO 1-24 May 2017 selling 52M tokens at ~$0.0785 for ~$4.16M.
The 2017 angel round and May 2017 public token sale delivered 52M QRL at genesis (June 2018); the 13M reserve was not sold. 52M / 79,908,141 QRL total (theqrl.org tokenomics snapshot) = 65.1%.
The 40M QRL emission (decaying over ~200 years) goes entirely to block producers; the QRL Foundation's share was the 13M genesis reserve, which is premine.
Sources: theqrl.org · theqrl.org · coingecko.com · docs.theqrl.org · theqrl.org · theqrl.org. Researched 2026-10-24, medium confidence.
The work behind it
Quantum Resistant Ledger is secured by 88 MH/s of its own work. Hashrate does not compare across algorithms — a SHA-256 hash and a Scrypt hash cost different amounts to produce.
What a regulator has said
No SEC/CFTC determination — unclassified.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
How CoinSpectrum ranks Quantum Resistant Ledger
Quantum Resistant Ledger is #69 among cryptocurrencies and #378 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 309 places between Quantum Resistant Ledger's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).