Q-Day Prize: 1 BTC Bounty for Breaking Elliptic Curve Cryptography
Project Eleven, a quantum computing research organization, has launched the Q-Day Prize – a global challenge offering 1 bitcoin (worth approximately $60,000) to the first team that successfully breaks an elliptic curve cryptographic (ECC) key using Shor’s algorithm on a quantum computer before April 5, 2026. The challenge directly targets the Elliptic Curve Digital Signature Algorithm (ECDSA), which underpins Bitcoin’s security model. While theoretical discussions about quantum threats have persisted for years, Project Eleven seeks to turn speculation into measurable risk by encouraging practical demonstrations of cryptographic vulnerability.
Quantum Threat Numbers: 6.2 Million BTC at Risk
According to the initiative, more than 6.2 million BTC, worth nearly $500 billion, are currently held in wallets with exposed public keys – meaning they could be at risk if quantum capabilities advance further. “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 that into a concrete model.” Recent developments in quantum computing have added urgency: Google’s ‘Willow’ chip solved a complex computation in five minutes that would take supercomputers 10 septillion years; Amazon’s ‘Ocelot’ and Microsoft’s ‘Majorana 1’ chips have also made significant strides; PsiQuantum raised $750 million in Q1 2025, citing advances in photonic chip design and optimization of Shor’s algorithm. Access to quantum computing is expanding through cloud services from IBM, AWS, Google, and Alibaba, making the technology more accessible to researchers and developers.
Historical Context and Industry Significance
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. “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.