Challenge Launch: 1 BTC Reward for Breaking Bitcoin's Elliptic Curve Cryptography
Project Eleven, a quantum computing research organization, has announced the Q-Day Prize, a global challenge offering 1 Bitcoin (BTC) to the first team able to break an elliptic curve cryptographic (ECC) key using Shor's algorithm on a quantum computer. The challenge targets the Elliptic Curve Digital Signature Algorithm (ECDSA), the foundation of Bitcoin's security model. The deadline is April 5, 2026, and the winner will be awarded 1 BTC.
"We have no clear idea how close we are to a quantum 'doomsday' scenario for existing cryptography," said Alex Pruden, CEO and co-founder of Project Eleven. "The Q-Day Prize is designed to take a theoretical threat from a quantum computer and turn it into a concrete model." The challenge aims to move the quantum threat from speculation to measurable risk.
Quantum Crisis: Over 6.2 Million BTC at Risk
According to Project Eleven, more than 6.2 million BTC (worth nearly $500 billion) are currently held in wallets with exposed public keys. If quantum computing capabilities advance enough to crack ECDSA keys, these Bitcoin holdings could be vulnerable to theft. ECDSA is critical for signing transactions and generating addresses; public keys are revealed during transactions, and a quantum adversary could reverse-engineer the private key.
While theoretical quantum threats have been discussed for years, practical demonstrations have been lacking. The Q-Day Prize encourages researchers to show real cryptographic vulnerabilities, turning speculation into measurable risk. Even if current quantum computers are far from the required logical qubits for breaking 256-bit ECC keys, progress may accelerate faster than anticipated.
Recent Quantum Computing Advances: From Willow to Majorana 1
Recent breakthroughs add urgency to the initiative. Google's 'Willow' chip solved a complex computation in five minutes that would take supercomputers 10 septillion years, demonstrating progress in error correction. Amazon's 'Ocelot' and Microsoft's 'Majorana 1' chips have also made significant strides. PsiQuantum raised $750 million in Q1 2025, citing developments in photonic chip design and optimization of Shor's algorithm.
Access to quantum computing is expanding through cloud-based services from providers such as IBM, AWS, Google, and Alibaba, making the technology more accessible to researchers and developers. This lowering of barriers means mass attacks may become more feasible sooner.
Historical Context: The Tradition of Cryptographic Benchmarking
The Q-Day Prize continues a tradition of cryptographic benchmarking challenges, similar to the RSA Factoring Challenge in 1991 and Hal Finney's 1995 SSL cipher challenge, both of which played key roles in measuring cryptographic resilience. These challenges have historically driven progress in understanding and improving security.
"This is an open call to the boldest minds in quantum," Pruden added. "Prove what's possible, and help us secure the future of digital assets." Registration and additional details are available at QDayPrize.org.