Whitepaper

SQRL whitepaper, version 4 (November 2026)PDF · 174 KBDownload

The whitepaper specifies the network as it is being deployed: permissioned execution and governance above a permissionless settlement layer. It covers:

• Network architecture: the canonical ledger and its validator seats, banking subnets, cross-subnet routing, and supervisor observer nodes.
• The execution substrate: SCL, the compiler, the VM and the node, per-call anchoring, two-phase validation, state roots, reorg handling and partitioned state.
• Payments and cross-border settlement: issuance of stablecoins and deposit tokens, assets over Lightning, partner hubs with multi-asset channels and in-flight FX, and batch settlement.
• Privacy for banking subnets, in three phases.
• Post-quantum security: hash-based integrity, the NIST standards adopted, and the Bitcoin authorisation path.
• Network economics: XRB's mandatory fee path, subnet anchoring rent, settlement fees, capacity licences and front-loaded validator emissions.