Project Eleven, a quantum computing analysis group, has introduced the launch of the Q-Day Prize, a world problem providing 1 BTC to the primary group capable of break an elliptic curve cryptographic (ECC) key utilizing Shor’s algorithm on a quantum pc. The primary group to efficiently obtain this breakthrough earlier than September 25, 2025, will probably be awarded 1 BTC.
The problem straight targets the Elliptic Curve Digital Signature Algorithm (ECDSA), which underpins bitcoin’s safety mannequin. Whereas theoretical discussions about quantum threats have persevered for years, Project Eleven seeks to show hypothesis into measurable threat by encouraging sensible demonstrations of cryptographic vulnerability.
In keeping with the initiative, greater than 6.2 million BTC, value practically $500 billion, are presently held in wallets with uncovered public keys and might be in danger if quantum capabilities advance additional.
“We have no clear idea how close we are to a quantum ‘doomsday’ scenario for existing cryptography,” stated Alex Pruden, CEO and co-founder of Project Eleven. “The Q-Day Prize is designed to take a theoretical threat from a quantum computer, and turn that into a concrete model.”
Current developments within the quantum computing house have added urgency to the initiative. Google’s ‘Willow’ chip not too long ago solved a posh computation in 5 minutes that might take supercomputers 10 septillion years, demonstrating progress in error correction. Amazon’s ‘Ocelot’ and Microsoft’s ‘Majorana 1’ chips have additionally made vital strides, whereas PsiQuantum raised $750 million in Q1 2025, citing developments in photonic chip design and optimization of Shor’s algorithm.
Entry to quantum computing can be increasing by means of cloud-based providers from suppliers reminiscent of IBM, AWS, Google, and Alibaba, making the expertise extra accessible to researchers and builders.
The Q-Day Prize continues a practice of cryptographic benchmarking challenges, much like the RSA Factoring Problem in 1991 and Hal Finney’s 1995 SSL cipher problem, each of which performed key roles in measuring cryptographic resilience.
“This is an open call to the boldest minds in quantum,” Pruden added. “Prove what’s possible, and help us secure the future of digital assets.”
Registration and extra particulars can be found at QDayPrize.org.
