A quantum computing breakthrough might at some point undermine the cryptography that secures the Bitcoin blockchain and its practically $1.7 trillion value of belongings. Now, a BTC bounty is placing that risk to the check.
On Wednesday, quantum computing analysis group Challenge 11 introduced a prize of 1 BTC—at the moment value practically $85,000—for the primary workforce to interrupt a simplified model of Bitcoin’s elliptic curve cryptography, or ECC, utilizing a quantum pc.
We simply launched the Q-Day Prize.
1 BTC to the primary workforce to interrupt a toy model of Bitcoin’s cryptography utilizing a quantum pc.
Deadline: April 5, 2026
Mission: Shield 6M BTC (over $500B)— Challenge 11 (@qdayclock) April 16, 2025
“Bitcoin’s safety depends on elliptic curve cryptography. Quantum computer systems working Shor’s algorithm will finally break it,” Challenge 11 wrote on X. “We’re testing how pressing the risk is.”
The QDay Prize runs till April 5, 2026, and is open to each people and groups.
Based in 2024 by Alex Pruden and Conor Deegan, Challenge 11 researches the intersection of quantum computing and cryptography, with a deal with the dangers these applied sciences pose to blockchain programs.
Challenge 11 has ready a set of ECC keys starting from 1 to 25 bits. Groups should reveal their options utilizing a key of the focused size—for instance, by cracking a 4-bit key if aiming for that degree. It's a small fraction of Bitcoin's present 256-bit encryption.
Elliptic curve cryptography is broadly utilized in blockchain for its effectivity and safety, however consultants warn that quantum computing might undermine it by breaking the computational asymmetry that retains it safe. And if somebody had been capable of crack Bitcoin’s cryptography, then they may probably stroll away with effectively greater than the competition’s 1 BTC prize.
“This isn’t a problem to ‘break’ Bitcoin,” Pruden wrote on X. “There’s already an unlimited incentive for anybody with a quantum pc to make use of it to forge a signature and subsequently steal funds from an deal with with uncovered public keys.”
A quantum pc makes use of the ideas of quantum mechanics to unravel issues far past the capabilities of conventional computer systems, posing a risk to Bitcoin by probably cracking the encryption that protects customers’ personal keys.
Including to this worry is that, in contrast to high-powered supercomputers, which might take eons to crack Bitcoin’s encryption, a quantum pc might theoretically do it in minutes.
Blockchain builders on different networks are additionally working to organize for a quantum future. In January, Solana builders launched a quantum-resistant resolution known as Solana Winternitz Vault that makes use of hash-based signatures to generate new keys for every transaction, defending person funds from potential quantum assaults. In March 2024, Ethereum co-founder Vitalik Buterin proposed a tough fork to guard Ethereum from related quantum threats.
“Whereas we imagine this hasn’t occurred but, we additionally don’t actually know the way distant we’re,” Pruden continued. “To organize, we want a plan. And to develop a plan, we want the details.”
Whereas the problem focuses on a dramatically scaled-down model of Bitcoin’s encryption, Challenge 11 sees it as a crucial sign of what’s to come back.
“That is solely the beginning—If anyone breaks a 5-bit key, it will likely be a breakthrough,” Challenge 11 concluded. “That’s a lot smaller than BTC’s 256-bit keys, however quantum computer systems will get there too. When that occurs, we have to know.”
Edited by Andrew Hayward
