With the Quantum Resistant Ledger (QRL) Mainnet fast approaching, we thought it was a good time to describe why we made a mining pool and why we want you to join. There will be many different pools available to choose from and hopefully, after reading this, you will choose to use our pool. First, we will also give you a quick primer on what makes us so excited for the coin and why you should jump aboard the bandwagon! After that, we will tell you why you should join our pool.

Making our way to Mainnet (QRL Logo is owned by the QRL Team)

What is QRL?

To make it simple, QRL is a forward-thinking project looking to the future of blockchain technology. In a world of rapidly changing technological innovation, paired with a growing realization of the security concerns it presents, Peter Waterland’s paper detailing a Quantum computing resistant blockchain network acts as a watershed moment in the evolution of the blockchain. Most every technical authority understands the threat that Quantum computing will pose on our traditional security apparatus; for those authorities it is only a matter of time before companies, individuals, and even nations will have to update their networks to combat Quantum computers. With this threat in mind, the strength of QRL lies in the fact that it will leverage the power of the blockchain network and couple it with a security algorithm that is provably Quantum resistant. Other coins will have to hard fork to a quantum resistant standard that will leave them open to gaping holes that will be exploited. On the other hand, QRL will be the first quantum resistant network from genesis which makes it fully secure. To read further, we recommend everyone check out the QRL website to truly understand why we are so excited about the coin and its network; they have a beautiful website that should answer questions you have. Now, let’s dive into a quick overview of mining.

What is Mining?

To avoid delays, the QRL team decided to initially release QRL as a Proof-of-Work (PoW) network and transition to Proof-of-Stake (PoS) in Q3 2018. This would allow them to ensure that the development of the difficult PoS network could be properly and thoroughly tested. For those who are uninitiated, blockchain networks are powered by the community that uses it; more specifically, the nodes that connect to the network and verify transactions. Essentially, the people that connect to the network verify the integrity and security of the blockchain (both past and present) allowing future transactions to be built off of that. For their effort, they are rewarded with coins and transaction fees from the network. The distinction between PoW and PoS lies in how a given blockchain chooses to verify the network. PoW networks will harness the power of computing hardware to solve complex functions that verify the network in a process called mining. The users will mine a new block on the chain by being the first to solve a series of equations using their given hardware (as you can see, this scenario creates an arms race for the best hardware capable of solving the equations). In a PoS network, users “create” verified blocks based upon their stake in the network (how many coins they own). Without making assumptions about which system is better, it is important to know that QRL will fork to a PoS network in the future. If you want to know more about mining, please read this Medium article and Coincentral article which do a great job of explaining how mining works within the blockchain.

75% of the Monero Network is controlled by Mining Farms

Why Are We Here?

When presented with the plans for a temporary PoW network, our team knew we had to take action. As seen in all PoW networks, the arms race for computing power leads to a centralization of power within the hands of enterprise miners and botnets. These large scale mining operations are not controlled by normal users, but rather by business outfits that seek only to make profit on a coin they don’t care about. We decided to start a mining pool that would give crypto-enthusiasts a way to fight against the power of large scale operations. Our mining pool will allow all of the small time miners to pool our hash power together to give us comparable strength to the larger operations. In this way, we ensure that the “little guy” actually gets his reward. As a driving factor, we want to make sure that crypto-enthusiasts have a piece of the network and gather the rewards for making QRL successful. It is our belief that a strong network is backed by vanguard adopters and believers who want to be a part of game changing innovation.

Why Pick Us?

Regardless of our reasoning, it is important to give you a reason to join us beyond altruism. The following are four major reasons you should join our community and start mining our pool:

First QRL Pool — While there may be other choices when it comes to pools, this is the FIRST QRL pool on the market. We have been mining QRL as a pool since the testnet release of pool software; some of us were even testing during QRL’s alpha phase. Our team was up and running long before that developing strategies and enhancements to reward our community further. Our first mover advantage makes us the most stable and developed pool you are going to get.

— While there may be other choices when it comes to pools, this is the QRL pool on the market. We have been mining QRL as a pool since the testnet release of pool software; some of us were even testing during QRL’s alpha phase. Our team was up and running long before that developing strategies and enhancements to reward our community further. Our first mover advantage makes us the most stable and developed pool you are going to get. Community Developed — Founded on community involvement, we believe that we are stronger as a group. The development of this pool will be driven by the involvement and will of our community. We will have a variety of ways for members to vote and push for new enhancements that they care about. We are aiming to be an interactive community that empowers its members to make real changes.

— Founded on community involvement, we believe that we are stronger as a group. The development of this pool will be driven by the involvement and will of our community. We will have a variety of ways for members to vote and push for new enhancements that they care about. We are aiming to be an interactive community that empowers its members to make real changes. Multidisciplinary Team — Unlike other pools that may be run by one or two people, we have a fully developed team with a wide range of skills. Our members are experienced in server administration, software development, project management, and even creative writing, among other skills. This means you will be getting a pool that can handle any problems that are encountered and provide you with the greatest rewards and ease possible.

— Unlike other pools that may be run by one or two people, we have a fully developed team with a wide range of skills. Our members are experienced in server administration, software development, project management, and even creative writing, among other skills. This means you will be getting a pool that can handle any problems that are encountered and provide you with the greatest rewards and ease possible. Future Focused — QRL will hard fork to PoS in Q3 2018 which may impact your decision to invest in equipment. Other pools are solely focused on QRL and will leave you hanging when the network moves to PoS, as they take their profits and leave. Our pool is focused on serving the community and ensuring their investment is maximized. As part of our guiding principles, we will focus on QRL mining in the beginning (we really do believe in the future of this coin) and then implement coin switching mechanisms into our pool. We will also develop tools to track price trends and news of other coins to give members a better understanding of the coin market. That way, when PoS rolls out, our pool will seamlessly transition to a modern, reward maximizing coin pool.

What Are You Waiting For?

As you can see, the QRL Mining Pool was testing since the beginning, currently developing right now, and will evolve in the future. We hope to see you all join our pool and, more importantly, join our community. We want to hear to suggestions for improvements and build up this community to be more than just a mining pool; we want to be a place where crypto-enthusiasts can gather, discuss, have fun, and make profit! Visit the links below, get involved, lookout for updates, and contact us for any questions. Let’s get moving!

Website : www.qrlmining.com

Discord : https://discord.gg/ceTcsdv

Twitter : https://twitter.com/MiningQrl

Email : info@qrlmining.com -> Send an email for questions and if you wish to join our mailing list