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Quantum computing research institute Project 11 has issued a global challenge: anyone who can successfully crack Bitcoin's encryption mechanism using a quantum computer within one year (deadline: April 5, 2026) will be rewarded with 1 Bitcoin (currently valued at approximately $84,000).
The competition, dubbed the "Q-Day Prize," targets the core of Bitcoin's security architecture—Elliptic Curve Cryptography (ECC). Participants must use Shor's algorithm on a quantum computer to derive a private key from a public key, effectively breaching Bitcoin's transaction signing system. Shor's algorithm, a quantum algorithm introduced by mathematician Peter Shor in 1994, is central to this challenge.
Project 11's Announcement:
"We just launched the Q-Day Prize. 1 BTC to the first team to break a toy version of Bitcoin’s cryptography using a quantum computer. Deadline: April 5, 2026. Mission: Protect 6M BTC (over $500B)."
6.2 Million Bitcoins at Potential Risk
In a statement released Wednesday, Project 11 emphasized:
"Our goal is simple yet critical—we must determine how much of a threat quantum computing poses to Bitcoin's core encryption."
Currently, Bitcoin relies on the Elliptic Curve Digital Signature Algorithm (ECDSA) for transaction verification. However, Project 11 warns that once quantum technology matures, Shor's algorithm could potentially derive private keys from public keys, jeopardizing wallet security.
According to Project 11's estimates, 6.2 million Bitcoins (worth nearly $500 billion) are at risk if quantum computing advances sufficiently.
Alex Pruden, CEO and co-founder of Project 11, stated:
"We have no clear idea how far away 'Q-Day' is—that’s why we created the Q-Day Prize: to turn quantum threats from theoretical risks into tangible challenges."
Industry Progress in Quantum Computing
Major tech firms like Alibaba, Amazon, Google, and IBM are actively advancing quantum computing research. Microsoft recently announced a breakthrough with its Majorana 1 quantum processor, featuring 8 topological qubits, which could potentially disrupt existing encryption systems. However, experts believe breaking Bitcoin's SHA-256 algorithm would require millions of stable qubits—a technological hurdle still far from being overcome.
👉 Learn more about quantum computing breakthroughs
BTC Bull Token: A New Crypto Asset Tied to Bitcoin's Future
Despite market volatility, some investors remain optimistic about Bitcoin's long-term potential. Emerging in this landscape is BTC Bull Token (BTCBULL), dubbed the "official Bitcoin meme coin," which has quickly gained traction.
Key Features of BTCBULL
- Price-Linked Rewards: Holders receive airdrops when Bitcoin hits predefined price targets.
- Tokenomics: Total supply of 21 billion tokens, inspired by Bitcoin’s 21 million cap.
- Deflationary Model: Incorporates token burns and high-yield staking mechanisms.
Presale Success: $4M Raised
The project has already secured $4 million in its presale phase, demonstrating strong market interest. The team allocates 40% of tokens for marketing and ecosystem development, with audits from Coinsult and SolidProof ensuring transparency.
👉 Explore BTC Bull Token's official details
FAQs
1. What is the Q-Day Prize?
A global challenge by Project 11 offering 1 BTC to whoever cracks Bitcoin’s encryption using quantum computing by April 2026.
2. How does quantum computing threaten Bitcoin?
Quantum computers running Shor’s algorithm could derive private keys from public keys, compromising wallet security.
3. What is BTC Bull Token (BTCBULL)?
A meme coin tied to Bitcoin’s price movements, offering airdrops when BTC hits specific targets.
4. Is quantum computing currently capable of breaking Bitcoin?
No—existing quantum systems lack the qubit stability and scale required to break SHA-256 encryption.
Conclusion
The Q-Day Prize highlights growing concerns about quantum computing’s impact on blockchain security, while innovative assets like BTCBULL reflect continued confidence in Bitcoin’s ecosystem. As technology evolves, these developments will shape the future of cryptography and digital assets.
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