As quantum computing capabilities advance at an accelerating pace, the long-term security of Bitcoin’s cryptographic foundation is facing unprecedented scrutiny. Enter Project Eleven, a forward-thinking initiative that has raised $6 million to safeguard Bitcoin from the looming quantum threat. With support from top-tier investors and a bold technical roadmap, the project aims to future-proof digital assets before it's too late.
The funding round was co-led by Variant Fund and Quantonation, with additional backing from Castle Island Ventures, Nebular, and Formation. This strategic capital infusion will accelerate the development of tools, standards, and infrastructure designed to ensure Bitcoin remains secure in a post-quantum world.
"As quantum computing capabilities advance, the threat to systems like Bitcoin is no longer theoretical—it's imminent," said Alex Pruden, CEO of Project Eleven. "This funding allows us to stay ahead of that curve, building the tools, standards, and ecosystem required to ensure digital assets remain secure."
The Q-Day Challenge: 1 BTC Bounty for Breaking ECC
To underscore the urgency and test real-world vulnerabilities, Project Eleven launched the Q-Day Prize, offering 1 BTC to the first team that successfully breaks Bitcoin’s elliptic curve cryptography (ECC) using a quantum computer.
“Q-Day is defined as the moment when quantum computers become capable of breaking the elliptic-curve cryptography that secures private keys used by Bitcoin,” explained Conor Deegan, co-founder and VP of Engineering at Project Eleven.
While no team has claimed the prize yet, the challenge serves as both a benchmark and a wake-up call. Current estimates suggest that a sufficiently powerful quantum computer could crack ECC within the next decade—posing a systemic risk to all blockchain networks relying on traditional public-key cryptography.
👉 Discover how next-gen cryptographic tools are preparing Bitcoin for future threats.
Introducing Yellowpages: A Post-Quantum Identity Registry
Project Eleven’s most innovative solution is Yellowpages, a decentralized, off-chain registry that enables users to establish quantum-resilient ownership of their Bitcoin addresses today—without requiring any changes to the Bitcoin protocol.
Here’s how it works:
- Users generate a hybrid key pair using post-quantum cryptographic algorithms (e.g., lattice-based cryptography), which are believed to be resistant to quantum attacks.
- They then create a cryptographic proof linking this new quantum-safe key to their existing Bitcoin address.
- This proof is timestamped and stored in Yellowpages—a public, verifiable ledger hosted off-chain.
Importantly, Yellowpages does not move funds or alter the blockchain. Instead, it creates a tamper-proof record of ownership that could serve as a critical recovery mechanism if ECC were ever compromised.
“This isn’t about replacing Bitcoin’s cryptography overnight,” Deegan emphasized. “It’s about preparing before Q-Day. With Yellowpages, we’re giving users free, audited, and open-source tools to proactively establish quantum-resilient ownership.”
Avoiding the Hard Fork Bottleneck
Many proposed solutions to the quantum threat involve protocol-level upgrades—such as QRAMP, a Bitcoin Improvement Proposal calling for a hard fork to migrate users to quantum-safe addresses. While technically sound, such approaches face significant adoption hurdles.
Bitcoin’s consensus model is notoriously slow-moving. Historical precedents—like the years-long transition of Ethereum to Proof-of-Stake or the contentious debate over increasing OP_RETURN data limits—highlight how difficult achieving network-wide agreement can be.
In contrast, Yellowpages operates independently of consensus. It allows individuals and institutions to take protective action immediately, without waiting for contentious governance debates or risky hard forks.
This user-driven, opt-in model dramatically lowers the barrier to adoption and accelerates mass deployment of quantum defenses across the ecosystem.
👉 Learn how decentralized security innovations are shaping the future of digital ownership.
Why Proactive Defense Matters
Experts warn that preparation must happen before a quantum breakthrough—not after.
"Quantum defenses must be built linearly, not reactively," said Rick Maeda of Presto Research in a recent interview. "By the time the threat is real, it’s already too late."
Once a quantum computer cracks ECC, attackers could potentially:
- Derive private keys from public keys
- Forge signatures
- Steal funds from vulnerable wallets
The damage would be irreversible. That’s why initiatives like Project Eleven are focusing on preemptive mitigation—giving users time to act while there’s still a window of opportunity.
Frequently Asked Questions (FAQ)
Q: What is the quantum threat to Bitcoin?
A: Quantum computers could theoretically break elliptic curve cryptography (ECC), which secures Bitcoin private keys. If cracked, attackers could steal funds from exposed addresses.
Q: Is quantum computing advanced enough to break Bitcoin today?
A: Not yet. Current quantum machines lack sufficient qubits and stability. However, experts estimate this could change within 5–15 years, making early preparation essential.
Q: Does Yellowpages require me to move my BTC?
A: No. Yellowpages is an off-chain registry that creates proofs of ownership without touching your funds or altering the blockchain.
Q: How does Yellowpages ensure long-term verifiability?
A: By timestamping cryptographic proofs on a decentralized ledger, Yellowpages ensures that ownership records remain immutable and auditable far into the future.
Q: Can anyone use Yellowpages?
A: Yes. The tools are free, open-source, and designed for both individual users and institutional holders.
Q: Why not just wait for a Bitcoin hard fork?
A: Hard forks require broad consensus and can take years to implement. Given the speed of quantum advancement, relying solely on protocol upgrades may leave the network exposed during critical transition periods.
👉 Explore cutting-edge solutions that protect your digital assets against emerging threats.
Core Keywords
Bitcoin quantum threat, post-quantum cryptography, elliptic curve cryptography (ECC), quantum-resistant Bitcoin, Q-Day, Yellowpages registry, blockchain security, hybrid key pairs
Conclusion
Project Eleven represents one of the most pragmatic and user-centric responses to the quantum threat facing Bitcoin. By combining incentivized research (via the Q-Day Prize), accessible tooling (Yellowpages), and a consensus-avoidant design, it offers a realistic path toward long-term resilience.
As quantum computing evolves from lab curiosity to tangible capability, proactive measures like these will define whether decentralized networks survive—or fall victim—to the next technological revolution. The race isn’t just about building stronger cryptography; it’s about deploying it at scale, before the clock runs out.