Quantum Computing Group Offers 1 Btc to Whover Breaks Bitcoin’s Cryptographic Key

Quantum Computers can rapidly break the Cryptographic algorithms that secure Blockchain Networks. APR 17, 2025, 6:58 AM

Project Eleven, A quantum computing research and advocation FIRM, HAS LAUNCHED The Q-Day Prize, A Global Competition Offering 1 Bitcoin (BTC) To The FIRST TEAM ABLRIC (ECC) Key, The Cryptography Which Secures the Bitcoin Network, USING SHOR’S ALGORITHM ON A QUANTUM Computer.

SHOR’S ALGORITHM IS A QUANTUM COMPUTING METHOD Eficient Factors Large Numbers Into their Prime Components, Theoretical ALLOWING QUANTUM Computers to Break Cryph. Elliptic-Curve CrypTography used in Bitcoin and Other Blockchain Networks.

The Contest ComESS As Quantum Computing Advancements mean that a workable Quantum Computer Might Only Be Years Away. Project Elevent Has Also Identified More than 10 Million Bitcoin Addresses with Non-Zero Balances Potentilly at Risk of Quantum Attacks.

The Bitcoin Community Is Aware of the Quantum Computing Threat and Is Working on Solutions.

As Coindesk Previoously Reported, A Bitcoin Improvement Proposal (BIP), Titled Quantum-Resistant Address Migration Protocol (Qramp) Network-Wide Migration to Post-Quantum CrypTography to Safuard Bitcoin Wallets. This would require a hard Fork, However, and Getting that sort of consensus would be an an uptle.

Quantum Startup Btq HAS ALSO PROPOSED ITS OWN Solution: A Quantum-Based Alternative to Bitcoin’s Proof of Work Called Coarse-Grained Boson Sampling (CGBS).

Cgbs Works by USING QUANTUM Computing to Generate Unique Patterns of Photons (Light Particles Called Bosons), Replacing Traditional Mining Puzzles with Quantum-Basid Sampling. But this also requires a hard fork, and the apetite for such a change isn’t yet known.