Bitcoin Faces Quantum Test with 1 BTC ‘Q-Day Prize’
Project Eleven offers 1 BTC to anyone who can break Bitcoin's cryptography using quantum computing.
- Project Eleven launches 1 BTC challenge for quantum hackers
- The competition highlights Bitcoin’s vulnerability to quantum tech
- Goal is to boost quantum-resistant cryptographic research
In a groundbreaking initiative, quantum computing research company Project Eleven has introduced the ‘Q-Day Prize’, a unique challenge that puts Bitcoin’s cryptographic foundations to the test. The reward? A full 1 Bitcoin (BTC)—currently worth tens of thousands of dollars—to anyone who can crack the longest known Bitcoin private key using quantum computing in the next 12 months.
This bold move isn’t just a publicity stunt; it’s a calculated effort to quantify the quantum threat to Bitcoin. While current classical computers can’t feasibly crack Bitcoin’s elliptic curve cryptography, quantum computers—still in their early stages—are theorized to be capable of doing so in the future.
Why the ‘Q-Day Prize’ Matters
The “Q-Day” term refers to a hypothetical future moment when quantum computers become powerful enough to break classical encryption. That moment, if it arrives, could threaten everything from emails to cryptocurrencies like Bitcoin.
Project Eleven’s competition aims to accelerate awareness and development of quantum-resistant cryptographic solutions, which will be crucial to protect not just Bitcoin, but all digital systems that rely on public-private key encryption.
By offering a real-world incentive, the firm hopes to bridge the gap between theoretical research and practical testing. The challenge is open to researchers, institutions, and developers across the globe.
Preparing for a Quantum Future
This initiative could serve as a wake-up call for the crypto industry. While quantum computers powerful enough to crack Bitcoin keys are still theoretical, the race is on to develop quantum-proof security standards before they arrive.
Many experts believe we have at least a decade before “Q-Day” becomes a real threat—but Project Eleven isn’t taking any chances. By launching this prize now, they are pushing the community to think ahead and prepare proactively for a quantum-resistant future.
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