Project Eleven Rewards 1 BTC to the First Person Who Cracks Bitcoin’s ECC Key Using Quantum Computing

Project Eleven, a quantum computing research and advocacy firm, has announced the Q-Day Prize, a global competition offering 1 bitcoin (BTC) to the first team that successfully breaks an elliptic curve cryptographic (ECC) key. This cryptography secures the Bitcoin network, and the challenge is to utilize Shor’s algorithm on a quantum computer.

Shor’s algorithm is a method in quantum computing that efficiently factors large numbers into their prime components, which could theoretically enable quantum computers to undermine cryptographic algorithms such as RSA and elliptic curve cryptography employed by Bitcoin and various other blockchain networks. We are excited to introduce the Q-Day Prize, offering 1 BTC to the first team to crack a simplified version of Bitcoin’s cryptography using a quantum computer.

Deadline: April 5, 2026
Mission: Protect 6 million BTC (over $500 billion)— Project Eleven (@qdayclock) April 16, 2025

This contest arises in the context of rapid advancements in quantum computing, suggesting that a viable quantum computer may be just a few years away. Project Eleven has identified over 10 million bitcoin addresses with non-zero balances that could potentially be vulnerable to quantum attacks.

The Bitcoin community recognizes the risks posed by quantum computing and is actively pursuing solutions. A Bitcoin Improvement Proposal (BIP), known as the Quantum-Resistant Address Migration Protocol (QRAMP), was introduced in early April to advocate for a network-wide shift to post-quantum cryptography for the protection of Bitcoin wallets. However, this transition would necessitate a hard fork, which may face challenges in achieving consensus.

Additionally, quantum startup BTQ has proposed an alternative approach: a quantum-based solution to Bitcoin’s Proof of Work named Coarse-Grained Boson Sampling (CGBS). CGBS utilizes quantum computing to generate unique patterns of photons (light particles called bosons), replacing traditional mining puzzles with quantum-based sampling tasks for validation. Similar to QRAMP, this proposal would also require a hard fork, and it remains uncertain how the community will respond to such changes.