The post Will Quantum Computers Be Able to Crack Bitcoin? Company Announces Competition with 1 BTC Prize! appeared on BitcoinEthereumNews.com.

As quantum computing becomes more and more prevalent in our lives, quantum computing research company Project Eleven has launched a competition to see how big a threat quantum computing currently poses to Bitcoin (BTC). Accordingly, Project Eleven announced that it will give a reward of 1 Bitcoin to the person who can break Bitcoin’s cryptography within a year. Project Eleven named the Bitcoin prize to be given at the end of the competition as the “Q-Day Prize” and said that the aim of the prize is to test how big a threat quantum computing poses to Bitcoin and to find quantum-proof solutions to secure Bitcoin in the long term. More than 6 million Bitcoins worth an estimated $500 billion could be at risk if quantum computers are able to crack Bitcoin’s elliptic curve cryptography (ECC) keys, Project Eleven said. Participants can register individually or as a team and have until April 5, 2026 to complete the task. The person or persons who win the prize will receive 1 Bitcoin. “We just launched the Q-Day Award. 1 BTC to the first team to crack a toy version of Bitcoin’s cryptography using a quantum computer. Deadline: April 5, 2026 Mission: Protect 6 million BTC (over $500 billion) Mission: Breaking the ECC key with a quantum computer. Reward: 1 BTC + making history in cryptography. This is just the beginning – If someone cracks a 5-bit key, it will be a turning point. This is much smaller than BTC’s 256-bit keys, but quantum computers will reach this size as well.” *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/will-quantum-computers-be-able-to-crack-bitcoin-company-announces-competition-with-1-btc-prize/

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Filed under: News - @ April 17, 2025 9:24 pm