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Project Eleven, a quantum computing<\/a> research organization, has announced the launch of the Q-Day Prize, a global challenge offering 1 BTC to the first team able to break an elliptic curve cryptographic (ECC) key using Shor\u2019s algorithm on a quantum computer. The first team to successfully achieve this breakthrough before September 25, 2025, will be awarded 1 BTC.<\/p>\n The challenge directly targets the Elliptic Curve Digital Signature Algorithm (ECDSA), which underpins bitcoin\u2019s 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.<\/p>\n According to the initiative, more than 6.2 million BTC, worth nearly $500 billion, are currently held in wallets with exposed public keys and could be at risk if quantum capabilities advance further.<\/p>\n \u201cWe have no clear idea how close we are to a quantum \u2018doomsday\u2019 scenario for existing cryptography,\u201d said Alex Pruden, CEO and co-founder of Project Eleven. \u201cThe Q-Day Prize<\/a> is designed to take a theoretical threat from a quantum computer, and turn that into a concrete model.\u201d<\/p>\n Recent developments in the quantum computing space have added urgency to the initiative. Google\u2019s \u2018Willow\u2019 chip recently solved a complex computation in five minutes that would take supercomputers 10 septillion years, demonstrating progress in error correction. Amazon\u2019s \u2018Ocelot\u2019 and Microsoft\u2019s \u2018Majorana 1\u2019 chips have also made significant strides, while PsiQuantum raised $750 million in Q1 2025, citing developments in photonic chip design and optimization of Shor\u2019s algorithm.<\/p>\n Access to quantum computing is also expanding through cloud-based services from providers such as IBM, AWS, Google, and Alibaba, making the technology more accessible to researchers and developers.<\/p>\n The Q-Day Prize continues a tradition of cryptographic <\/a>benchmarking challenges, similar to the RSA Factoring Challenge in 1991 and Hal Finney\u2019s 1995 SSL cipher challenge, both of which played key roles in measuring cryptographic resilience.<\/p>\n \u201cThis is an open call to the boldest minds in quantum,\u201d Pruden added. \u201cProve what\u2019s possible, and help us secure the future of digital assets.\u201d<\/p>\n Registration and additional details are available at QDayPrize.org<\/a>.<\/p>\n<\/p><\/div>\n