Project Eleven, a research company Quantum computing, has launched competition to see how many quantum threats calculations for Bitcoin are currently.
Starting the competition on April 16, Eleven project he said It offers 1 Bitcoin (BTC) anyone who breaks the largest piece of the Bitcoin key using a quantum computer over the following year.
The Eleven project said that the goal of the “Q-Day award” is to check “how urgent is a quantum threat” for bitcoins and finding quantum resistant to protecting bitcoins in a long term.
“10 million+ addresses revealed public keys. The quantum calculation is constantly developing. Nobody was yet rigorously compared with this threat,” the Eleven Project Eleven project wrote on October 16.
The Eleven project said that over 6 million Bitcoins – worth about $ 500 billion – can be threatened if quantum computers become robust enough to break the cryptographic keys of the elliptical curve (ECC).
Participants can register as a person or as a team and have until April 5, 2026 to perform the task. The winner of the award will win 1 Bitcoin, currently worth 84 100 USD.
The goal is to launch the sorra algorithm on a quantum computer to break as many bitcoin key bits as possible, acting as a proof of the concept that the technique can scale to break the full, 256-bit bitcoin key after the available calculation.
“Mission: Break the largest ECC key using the Sorra algorithm on a quantum computer. Without classic shortcuts. No hybrid tricks. Pure quantum power,” said Project Eleven.
“You don’t have to break the Bitcoin key. The 3-bit key would be a great news,” he added.
He noticed that no ECC key used in reality was broken, it was noted that Project Eleven, adding that the winner could “fall in the history of cryptography.”
The Eleven project noted that several internet platforms offer access to quantum calculations such as Amazon Web Services and IBM.
Related: Fork resistant to bitcoin, which is resistant to a quantum fork
Current estimates suggest that about 2,000 logical cubits (corrected with errors) are enough to break the 256-bit ECC key, noticed Project Eleven.
According to the Eleven IBM chip design, Google can now perform 156 and 105 cubits-which is significant to cause anxiety, which believes that the quantum system with quantum 2000-quantum quantum can be developed over the next decade.
The quantum threat to bitcoins is true, but there is time, they say bitcoiners
Bitcoin Cypherpunk Jameson Race he said The question is how the industry interested should be “unanswered”.
“I think it is far from the crisis, but considering the difficulty in changing Bitcoins, it is worth starting to discuss seriously,” said LOPP in the post of March 16.
In February, the General Director of Tether Paolo Ardoino he said The fear is justified, but she is convinced that bitcoin addresses resistant to quantum will be implemented long before the appearance of a “serious threat”.
Warehouse: Bitcoin vs. The Quantum Computer Threats: TIME ABSE AND SOLUTIONS (2025–2035)
