The post Project Eleven Raises $6M to Defend BTC From the Coming Quantum Threat appeared on BitcoinEthereumNews.com.

Project Eleven has raised $6 million to protect bitcoin from the existential threat of quantum computing, as fears mount that the network’s core cryptography could one day be rendered obsolete. The round was co-led by Variant Fund and Quantonation, with participation from Castle Island Ventures alongside founding investors Nebular and Formation, according to a release. “As quantum computing capabilities advance, the threat to systems like Bitcoin is no longer theoretical, it’s imminent,” Alex Pruden, CEO of Project Eleven, said in a release. “This funding allows us to stay ahead of that curve, building the tools, standards, and ecosystem required to ensure digital assets remain secure in a post-quantum world,” Pruden said. Earlier this year, Project Eleven launched the Q-Day Prize, offering 1 BTC to the first team that can break Bitcoin’s elliptic curve cryptography (ECC) using a quantum computer. “We define Q-Day as the moment when quantum computers become capable of breaking the elliptic-curve cryptography that secures private keys used by Bitcoin,” said Conor Deegan, co-founder and VP of Engineering at Project Eleven in a release. Project Eleven also announced it is launching Yellowpages a post-quantum cryptographic registry where users can generate hybrid key pairs, create proofs linking them to their existing BTC addresses, and timestamp those proofs on a verifiable ledger. Yellowpages works by having users generate a new key pair using post-quantum cryptographic algorithms, such as lattice-based systems, that are resistant to the types of attacks a future quantum computer could launch. They then create a cryptographic proof linking this quantum-safe key to their existing BTC address. That proof is timestamped and stored in Yellowpages, a public registry hosted off-chain. It doesn’t move funds or alter anything on the Bitcoin blockchain, but creates a verifiable paper trail of wallet ownership that could serve as a fallback if elliptic…

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Filed under: News - @ June 20, 2025 12:15 am