Recently, Project Eleven (Quantum Computing Research Group) is a 1 -bit coin for the first team that may have difficulty breaking the ECC (ELLIPTIC CRYPTOGRAPH) key using a SHOR’s algorithm on a Quantum computer We have announced rewards.
The deadline for this challenge is April 5, 2026. In other words, in order to receive a prize, the team must show that the key pair breaks. It must be done before the deadline.
Honestly, this is a completely ridiculous and meaningless award for many reasons. The first is the deadline for less than a year from today. Even a very optimistic projection of quantum computing progress has created a timeline that achieves a goal similar to 5-10 years. Even in the short term, even if we look at quantum computing as a material threat, it is very funny to expect a demonstration of executable conceptual certificate that actually breaks the key in a year.
Here is the factor of economic incentives: Single Bitcoin is currently worth about $ 80,000. Honestly, it is not much money in the plans of Grand things. Especially when applying cutting -edge technologies such as quantum computing, when applying state -of -the -art technologies such as quantum computing, which can be performed more exponentially and faster than typical computers. Imagine how much more valuable you can do with the working quantum computer.
Regardless of TLS, you can resolve safe connections on private companies that do not use eavesdropping, banks, stock brokerage, or quota encryption. You can stop all personal messenger applications on Earth and decrypt PGP encryption messages sent by email that knows the public key. You can dismiss all servers in the world that users are trying to connect by stopping the hierarchy of the entire DNS system.
All of this is not worth more than $ 84,000. Why will a person with a quantum computer working on Earth publicly reveals a single bitcoin when they openly openly use everything they can do?
Okay, aside from all its possibilities, let’s pretend that the world is magic like magic with quest encryption except Bitcoin. that yet If you have a functional quantum computer, it is meaningless to claim this award publicly.
Suppose you have enough time to break a single key, so there are few enough quantum computers. How many bare public talls are there for 50 BTC outputs in the first mining era? Thousands of people. Why do you break one on Earth and tell everyone to claim publicly? Single Bitcoin? Before people detect you, we will try to break the initial coinbase rewards as many as possible.
Finally, the timetable itself is absurd. Quantum computers can’t consider the minority that people can mentally do in their heads. Will technology be over to crack the bitcoin key in a year? It’s ridiculous.
So what is the point of this top except for some promotional stunts? Even if you are not worried or worrying about a threat in the quantum computer time, it is not completely meaningful as a serious bounty to act as a canary of coal democracy for us.
This bounty is a joke.
This article is a take. The expressed opinion is entirely the author’s opinion and does not necessarily reflect the opinions of the BTC INC or Bitcoin magazine.