Project Eleven has raised $6 million to proactively defend Bitcoin from future quantum computing attacks that could compromise its foundational cryptography. With quantum technology rapidly advancing, this project is aiming to ensure that Bitcoin remains secure and verifiable in a post-quantum world.
Quantum Threat to Bitcoin’s Cryptography
Bitcoin’s core security relies on elliptic curve cryptography (ECC). However, quantum computers could one day break ECC, making private keys vulnerable and funds exposed.
Project Eleven defines “Q-Day” as the moment quantum machines can compromise ECC, effectively nullifying today’s crypto security. To raise awareness, the group has launched the Q-Day Prize, offering 1 BTC to the first team that successfully breaks ECC using a quantum computer.
Introducing ‘Yellowpages’: Quantum-Safe Registry
To protect against future attacks, Project Eleven is launching Yellowpages, a registry for post-quantum cryptographic proofs. The platform allows Bitcoin users to:
- Generate quantum-safe key pairs (e.g., lattice-based algorithms)
- Create verifiable proofs linking them to existing BTC addresses
- Timestamp and store these proofs in a public, off-chain ledger
This creates a verifiable fallback that proves wallet ownership—even if ECC is broken in the future.
“Preparing ahead of Q-Day means ensuring that digital assets remain secure and verifiable,” said Project Eleven’s VP of Engineering.
Bypassing the Need for Protocol Consensus
One key innovation of Project Eleven’s approach is that it avoids requiring consensus changes to the Bitcoin protocol. Unlike QRAMP and other proposals that demand a hard fork or network-wide migration to new standards, Yellowpages works independently and off-chain, providing a user-level quantum safety net.
Given Bitcoin’s historically cautious governance—illustrated by years-long debates on changes like Proof-of-Stake or OP_RETURN—this approach enables proactive action without political friction.
Funding and Industry Support
The $6 million round was co-led by Variant Fund and Quantonation, with contributions from Castle Island Ventures, Nebular, and Formation. This capital injection will support tools, research, and standards development for a secure, quantum-resistant Bitcoin future.
Why This Matters Now
Quantum computing may still be years away from fully cracking ECC, but experts warn that waiting is not an option. Security must evolve linearly—not reactively—to prevent irreversible losses when Q-Day arrives.
Project Eleven’s initiative is a call to the Bitcoin ecosystem: prepare now, or risk being unprepared when the moment comes.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.