Project Eleven, a quantum computing analysis and advocacy agency, has launched the Q-Day Prize, a world competitors providing 1 bitcoin (BTC) to the primary group capable of break an elliptic curve cryptographic (ECC) key, the cryptography which secures the Bitcoin community, utilizing Shor’s algorithm on a quantum laptop.
Shor’s algorithm is a quantum computing technique that effectively components massive numbers into their prime parts, theoretically permitting quantum computer systems to interrupt cryptographic algorithms like RSA and elliptic-curve cryptography utilized in Bitcoin and different blockchain networks.
We simply launched the Q-Day Prize.
1 BTC to the primary group to interrupt a toy model of Bitcoin’s cryptography utilizing a quantum laptop.
Deadline: April 5, 2026
Mission: Defend 6M BTC (over $500B)— Project 11 (@qdayclock) April 16, 2025
The competition comes as quantum computing developments imply {that a} workable quantum laptop would possibly solely be years away. Project Elevent has additionally recognized greater than 10 million bitcoin addresses with non-zero balances probably vulnerable to quantum assaults.
The Bitcoin group is conscious of the quantum computing risk and is engaged on options.
As CoinDesk beforehand reported, a Bitcoin Enchancment Proposal (BIP), titled Quantum-Resistant Handle Migration Protocol (QRAMP), was launched in early April, which suggests imposing a network-wide migration to post-quantum cryptography to safeguard Bitcoin wallets. This is able to require a tough fork, nonetheless, and getting that type of consensus could be an uphill battle.
Quantum startup BTQ has additionally proposed its personal answer: a quantum-based various to Bitcoin’s Proof of Work known as Coarse-Grained Boson Sampling (CGBS).
CGBS works by utilizing quantum computing to generate distinctive patterns of photons (mild particles known as bosons), changing conventional mining puzzles with quantum-based sampling duties for validation. However this additionally requires a tough fork, and the urge for food for such a change isn’t but recognized.
