Project Eleven Launches Q-Day Prize Offering 1 BTC ($84K) to Crack Bitcoin Cryptography Using Shor's Algorithm Within One Year

Quantum computing research firm Project Eleven has announced a competition called the "Q-Day Prize," offering a reward of 1 Bitcoin (BTC), valued at approximately $84,000, to anyone who can break Bitcoin's cryptography using a quantum computer within the next year. The challenge specifically targets the cracking of the longest Bitcoin elliptic curve cryptographic key using Shor's algorithm. The initiative aims to quantify the current quantum threat to Bitcoin's security and accelerate the development of real-world models assessing the risks posed by quantum computing to Bitcoin's encryption.

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