Project Eleven" award announced for Giancarlo Lelli as 1 BTC
The quantum startup "Project Eleven" has announced a reward of 1 BTC (approximately $78,000) for independent researcher Giancarlo Lellig. He successfully broke a 15-bit cryptographic key based on elliptic curves using publicly available quantum equipment. While this does not pose a direct threat to Bitcoin, which typically relies on 256-bit cryptography, it highlights the potential of quantum algorithms to compromise simpler encryption schemes. The industry is discussing the transition to post-quantum algorithms, urging communities that control public key addresses to take precautionary measures.
Quantum startup "Project Eleven" has announced the Q-Day Prize of 1 BTC (approximately $78,000) to independent researcher Giancarlo Lelli. Ixbt.com reports this.
Lelli successfully cracked a 15-bit cryptographic key based on elliptic curves using publicly available quantum hardware.
This is not a breach of Bitcoin; Bitcoin and other cryptocurrencies typically rely on 256-bit cryptography, while a 15-bit key consists of only 32,767 variants.
Quantum algorithms, specifically Shor's algorithm, can theoretically break such schemes, and demonstrations are rapidly increasing in complexity: 6-bit was shown in 2025, and now 15-bit has been demonstrated.
Bitcoin remains practically secure for now, but the industry is discussing the transition to post-quantum algorithms, and communities holding addresses with open public keys should take precautionary measures.
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