From Cointelegraph
April 16, 2025 9:55 PM:

Project Eleven launches a competition to test quantum computing’s threat to Bitcoin, offering 1 BTC prize to crack a Bitcoin key. More than 6 million Bitcoin could be at risk if quantum computers crack ECC keys. Participants have until 2026 to complete the task for a chance to win the prize.

Project Eleven aims to run Shor’s algorithm on a quantum computer to crack Bitcoin keys. Breaking any ECC key would be significant news. No ECC key has been cracked in real-world applications yet. Several platforms offer quantum computing access. An estimated 2,000 qubits could break a 256-bit ECC key.

Bitcoiners believe there’s time to address the quantum threat. Jameson Lopp and Tether CEO Paolo Ardoino express concerns but Lopp says crisis is far and discussion is needed. Ardoino is confident in implementing quantum-proof Bitcoin addresses before a serious threat emerges.

Read more at Cointelegraph: Project 11 is offering 1 BTC to whoever cracks the longest Bitcoin key