Quantum Computing Research Firm to Offer 1 BTC Reward for Cracking Bitcoin Encryption Within a Year
Suehyeon Lee
Summary
- Quantum computing research firm Project Eleven has announced that it will offer 1 BTC to anyone who cracks Bitcoin encryption within a year.
- The event aims to practically measure the level of threat quantum computing poses to Bitcoin's core encryption technology.
- Participants are tasked with cracking Bitcoin's elliptic curve cryptography using quantum computing and Shor's algorithm.
A quantum computing research firm has announced that it will offer 1 BTC to anyone who cracks Bitcoin (BTC) encryption within a year.
According to The Block on the 16th (local time), the quantum computing research firm Project Eleven stated, "As the first 'Q-Day Prize' event, we will offer 1 BTC to anyone who cracks Bitcoin's elliptic curve cryptography (ECC) using a quantum computer and Shor's algorithm within a year."
Project Eleven explained that the purpose of this event is to practically measure the level of threat quantum computing poses to Bitcoin's core encryption technology.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.!["Will AI take our jobs?" Fear spreads…market rattled by a plunge in shares [New York Market Briefing]](https://media.bloomingbit.io/PROD/news/874408f1-9479-48bb-a255-59db87b321bd.webp?w=250)
