Quantum Computing Challenge: Project Eleven Offers 1 BTC for Breaking Bitcoin’s ECC Key

Project Eleven’s Q-Day Prize offers 1 BTC to the first team to break Bitcoin’s ECC key using quantum computing, raising concerns about security as advancements in quantum tech accelerate. Over 10 million addresses are at risk, prompting proposals like QRAMP and CGBS that require hard forks for implementation.

Project Eleven has initiated the Q-Day Prize, offering a reward of 1 bitcoin (BTC) to the first team capable of breaking Bitcoin’s elliptic curve cryptographic (ECC) key using quantum computing. This initiative underscores the serious threat that advances in quantum computing pose to the security of Bitcoin. It is estimated that over 10 million Bitcoin addresses could be compromised if ECC is successfully targeted.

The competition aims to showcase the capabilities of quantum computers, specifically through the use of Shor’s algorithm, a method vital for factoring large numbers. This method could potentially crack security frameworks like those protecting Bitcoin, making the urgent need for protective measures starkly apparent. The deadline for submissions to achieve this break is April 5, 2026.

Project Eleven has identified the quantum threat as imminent, with potential advancements suggesting that functional quantum computers may be available within a few years. The Bitcoin community is actively seeking solutions to this threat, including a proposed Bitcoin Improvement Proposal (BIP) known as the Quantum-Resistant Address Migration Protocol (QRAMP), which would transition the network to post-quantum cryptography, albeit requiring consensus for a hard fork.

In addition, quantum startup BTQ has suggested an alternative validation method titled Coarse-Grained Boson Sampling (CGBS). This technique replaces conventional mining processes with quantum sampling of photon patterns, though its implementation also necessitates network-wide changes through a hard fork. The community’s response to such significant alterations remains uncertain.