Project Eleven, a quantum computing research organization, has launched the Q-Day Prize, a global competition that will award 1 BTC to the first team able to break an elliptic curve cryptographic key with Shor’s algorithm on a quantum computer before April 5, 2026. The challenge is aimed directly at ECDSA, the Elliptic Curve Digital Signature Algorithm that underpins Bitcoin’s signature security model. By turning a long-debated theoretical concern into a measurable benchmark, the initiative seeks to clarify how close real-world quantum threats may be to existing cryptographic systems. According to Project Eleven, more than 6.2 million BTC, worth nearly $500 billion, are currently held in wallets with exposed public keys, potentially leaving those funds vulnerable if quantum capabilities continue to advance. The urgency behind the prize also reflects recent momentum in the quantum sector, including Google’s Willow chip, Amazon’s Ocelot, Microsoft’s Majorana 1, and PsiQuantum’s $750 million raise in Q1 2025 tied to photonic chip design and Shor’s algorithm optimization. The article also highlights a broader shift: access to quantum computing is expanding through cloud services from IBM, AWS, Google, and Alibaba. In that context, Q-Day Prize follows a long tradition of public cryptographic benchmarking efforts, similar to the 1991 RSA Factoring Challenge and Hal Finney’s 1995 SSL cipher challenge. Project Eleven frames the initiative as both a test and a warning for the future security of digital assets.

Project Eleven, a quantum computing research organization, has launched the Q-Day Prize, a global competition that will award 1 BTC to the first team able to break an elliptic curve cryptographic key with Shor’s algorithm on a quantum computer before April 5, 2026. The challenge focuses on ECDSA, the elliptic curve digital signature algorithm that underpins Bitcoin’s security model, and aims to turn years of theoretical debate about quantum threats into a measurable benchmark. According to the initiative, more than 6.2 million BTC—valued at nearly $500 billion at the time cited—are currently held in wallets with exposed public keys and could face elevated risk if quantum capabilities continue to advance. The announcement comes amid rapid progress in quantum hardware and error correction, including Google’s Willow chip, Amazon’s Ocelot, Microsoft’s Majorana 1, and PsiQuantum’s $750 million raise in Q1 2025. Growing access through cloud platforms from IBM, AWS, Google, and Alibaba further broadens the research landscape. Framed in the tradition of the 1991 RSA Factoring Challenge and Hal Finney’s 1995 SSL cipher challenge, the Q-Day Prize is meant to help the industry better understand how close quantum computing may be to affecting digital asset security in practice.

Project Eleven, a quantum computing research organization, launches the Q-Day Prize, a global challenge offering 1 BTC 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 secures Bitcoin. Over 6.2 million BTC (worth nearly $500 billion) are held in wallets with exposed public keys, potentially at risk. The article highlights recent quantum computing advances: Google's Willow chip, Amazon's Ocelot, Microsoft's Majorana 1, and PsiQuantum's $750 million funding. It also draws parallels with the RSA Factoring Challenge (1991) and Hal Finney's SSL cipher challenge (1995) to emphasize the significance of cryptographic benchmarking.

Project Eleven, a quantum computing research organization, has announced the Q-Day Prize, a global challenge offering 1 BTC to the first team that breaks an elliptic curve cryptographic (ECC) key using Shor's algorithm on a quantum computer before April 5, 2026. Over 6.2 million BTC (worth nearly $500 billion) are held in wallets with exposed public keys, potentially at risk if quantum capabilities advance. Recent breakthroughs from Google’s Willow chip, Amazon’s Ocelot, Microsoft’s Majorana 1, and PsiQuantum’s $750 million raise have accelerated the urgency. The challenge continues a tradition of cryptographic benchmarking dating back to the RSA Factoring Challenge and Hal Finney’s SSL cipher challenge, aiming to turn theoretical risk into a concrete model and secure the future of digital assets.