Project Eleven is offering 1 BTC to the first team or individual that can break Bitcoin’s ECC using a quantum computer. It’s ...

The prize winner will win 1 Bitcoin, currently worth $84,100. Source: Project Eleven The aim is to run Shor’s algorithm on a quantum computer to crack as many bits of a Bitcoin key as possible ...

Shor's algorithm is a quantum computing method that efficiently factors large numbers into their prime components, theoretically allowing quantum computers to break cryptographic algorithms like ...

Project 11 believes that at the current pace of development, quantum computers could break Bitcoin’s wallet encryption within the decade, potentially putting millions of exposed wallet keys at risk.

Quantum computing represents an existential threat to modern cryptographic defenses, particularly for non-human identities—machines, IoT devices, workloads, applications, services and APIs—which rely ...

Shor’s algorithm is a quantum algorithm widely believed to have the potential to break encryption systems like ECC if a large and accurate enough quantum computer is built. Trending: It’s no ...

Recently, Project Eleven (a quantum computing research group) announced a 1 bitcoin reward for the first team able to complete a challenge to demonstrate breaking a ECC (elliptic curve cryptograph) ...

For decades, RSA and Elliptic Curve Cryptography (ECC) have formed the backbone of digital security. From securing online ...

Alex Thorn warns that quantum computing threatens Bitcoin’s security, with solutions potentially making things worse.