Project Eleven challenges global researchers to break ECC with quantum tech
Quantum computing research firm Project Eleven is offering a bold challenge to the global scientific community: crack Bitcoin’s cryptographic defenses using a quantum computer and win 1 BTC (currently worth around $84,000).
The "Q-Day Prize," announced on Wednesday, will reward any team that successfully breaks an elliptic curve cryptographic (ECC) private key using Shor’s algorithm within 12 months. ECC is used in Bitcoin’s ECDSA signature scheme, and breaking it would represent a historic cryptographic breakthrough.
“We have no clear idea how close we are to a quantum ‘doomsday’ scenario for existing cryptography,” said Alex Pruden, CEO of Project Eleven. “The Q-Day Prize is designed to turn this theoretical threat into something tangible.”
How quantum tech threatens Bitcoin security
Bitcoin’s security relies on hashing algorithms like SHA-256 and the elliptic curve cryptography behind user wallets. A sufficiently advanced quantum computer running Shor’s algorithm could theoretically derive private keys from public keys — putting an estimated 6.2 million BTC (worth nearly $500 billion) at risk.
Though experts estimate that cracking Bitcoin would require millions of stable qubits, major firms like Google, Microsoft, Amazon, and IBM are actively developing quantum chips. In February, Microsoft announced a breakthrough using topological qubits, possibly accelerating progress in this field.
Project Eleven’s challenge is not just a stunt — it’s a signal to governments and developers to take post-quantum cryptography seriously before it’s too late.
