Project Eleven, a post-quantum cryptography firm, raised $ 6 million to help secure Bitcoin and other digital assets against future computing threats.
According to a Thursday announcement shared with Cointelegraph, the funding rotation was led by the leading web3 investment fund and the volume of tech volume, among others. It marks the first investment of quantonation in the crypto space.
Project Eleven CEO Alex Pruden said funding will allow the company to build “the tools, standards and ecosystems needed to ensure that digital assets remain safe in a post-quantum world.”
According to the Eleven Labs and Ycharts data mentioned by Project Eleven, “there are 10,095,693 Bitcoin addresses with a non-zero balance and a exposed public key, which puts a total of 6,262,905 BTC-costs about $ 648 billion-at-risk of a potential volume attack.
Related: Bitcoin must upgrade or victimize computing volume in 5 years
The company’s first release, a cryptographic registry called Yellowpages, is designed to let users create a proof resistant to the whole that connects their current Bitcoin addresses to new, safe, without relying on the onchain activity. Pruden said the registry will act as a fallback in case computers compromise the existing Bitcoin keys.
Pruden said the Yellowpages were that Cure 53 and that the company would post outcome results shortly. Project Eleven also opened discussions with bitcoin core developers about potential upgrades in the future.
The threat of volume to bitcoin
Adam Back, Satoshi Nakamoto mentioned in Bitcoin (Btc) white paper, previously suggested that the computing pressure pressure Can force the creator of bitcoin to reveal whether they are alive.
The threat of volume to bitcoin is a controversial topic, with some dispute that it is a theoretical threat that does not guarantee dedicated sources. However, the risk is seriously taken by many.
The US National Security Agency is “aimed at all national security systems will be the sum of 2035,” According to In a late 2024 document. Under those plans, new acquisitions will require the volume encryption of 2027, and the legacy gear will be phased at 2030–2031.
The US National Institute of Standards and Technology also Nakasa said In late 2024 its purpose was to “achieve widespread (post-quantum cryptography) adoption in 2035.”
“It’s not a question if it’s theoretical, it’s at what point it becomes practical,” Pruden told Cointelegraph.
The US nonprofit and global policy think tank, research institute and public sector consulting firm conducted a specialized survey on the topic in 2020. Report It was estimated that the average time until a cryptography-breaking computer volume was 2033, but it was noted that “earlier and later development was possible,” along with the range starting from 2027.
Related: The challenge of the Q-Day prize, explained: Can Quantum computers break down Bitcoin?
Rand’s research preceded a study released by Google in May, managed to reduce the request to break the RSA-201 More Today’s capabilities, which walk around a few hundred stable quubits.
Classical computers are still king
Pruden told Cointelegraph that “Computers volume can factor small ECDSA public keys.” However, the same can be said about classical computers.
In a 2022 PaperResearchers shared the achievement of the authentication of a 48-bit semiprime number, 261,980,999,226,229, on a 10-quubit computer. Last year, D-wave used An annealing volume to factor a 50-bit semiper number using a classical hybrid and quantity finding.
For context, the record on classical computers was set in 2020 on a supercomputer with about 2,700 CPU-core-years, who was able to factor an 829-bit RSA key and were involved in a 415-bit prime. This equates to about three months in a medium HPC cluster.
Magazine: Bitcoin vs. computer volume threat: timeline and solution (2025–2035)
