Project 11 is offering 1 BTC to whoever cracks the longest Bitcoin key

2 days ago

Quantum computing probe steadfast Project Eleven has launched a contention to spot conscionable however overmuch of a menace quantum computing presently poses to Bitcoin.

Launching the contention connected April 16, Project Eleven said it is offering 1 Bitcoin (BTC) to whoever cracks the biggest chunk of a Bitcoin cardinal utilizing a quantum machine wrong the adjacent year.

Project Eleven said the intent of the “Q-Day Prize” is to trial “how urgent the threat” of quantum is to Bitcoin and to find quantum-proof solutions to unafraid Bitcoin implicit the agelong term.

“10 million+ addresses person exposed nationalist keys. Quantum computing is steadily progressing. Nobody has rigorously benchmarked this menace yet,” Project Eleven wrote connected X connected April 16.

More than 6 cardinal Bitcoin — worthy astir $500 cardinal — could beryllium astatine risk if quantum computers go almighty capable to ace elliptic curve cryptography (ECC) keys, Project Eleven said.

Participants tin registry arsenic individuals oregon arsenic a squad and person until April 5, 2026, to implicit the task. The prize victor volition triumph 1 Bitcoin, presently worthy $84,100.

The purpose is to tally Shor's algorithm connected a quantum computer to ace arsenic galore bits of a Bitcoin cardinal arsenic possible, acting arsenic a proof-of-concept that the method could standard to ace a full, 256-bit Bitcoin cardinal erstwhile the indispensable compute is available.

“The mission: interruption the largest ECC cardinal imaginable utilizing Shor's algorithm connected a quantum computer. No classical shortcuts. No hybrid tricks. Pure quantum power,” Project Eleven said.

“You don't request to interruption a Bitcoin key. A 3-bit cardinal would beryllium large news,” it added.

No ECC cardinal utilized successful real-world applications has ever been cracked, noted Project Eleven, adding that the victor could “go down successful cryptography history.”

Project Eleven noted that respective online platforms connection quantum computing access, specified arsenic Amazon Web Services and IBM.

Current estimates suggest that astir 2,000 logical qubits (error-corrected) would beryllium capable to interruption a 256-bit ECC key, Project Eleven noted.

IBM’s Heron spot and Google’s Willow tin presently bash 156 and 105 qubits — significant capable to origin concern, according to Project Eleven, which believes a 2,000-qubit quantum strategy could beryllium developed wrong the adjacent decade.

Quantum menace to Bitcoin is existent but there’s time, Bitcoiners say

Bitcoin cypherpunk Jameson Lopp precocious said the question of however acrophobic the manufacture should beryllium astir quantum computing is presently “unanswerable.”

“I deliberation it's acold from a crisis, but fixed the trouble successful changing Bitcoin it's worthy starting to earnestly discuss,” Lopp said successful a March 16 post.

In February, Tether CEO Paolo Ardoino said the interest is well-founded but is confident that quantum-proof Bitcoin addresses volition beryllium implemented good earlier immoderate “serious threat” emerges.