Project Eleven Offers 1 BTC For Breaking Bitcoin’s Signature

Quantum computing firm Project Eleven has launched the “Q-Day Prize,” offering 1 BTC to the first team that successfully cracks Bitcoin’s ECDSA signature using Shor’s algorithm within a year. The competition aims to spotlight the potential risks quantum computing poses to Bitcoin’s security. If successful, approximately 6.2 million BTC (worth $500 billion) could be at risk, emphasizing the need for improved cryptographic solutions moving forward.