Project 11 Launches Q-Day Prize Competition to Test Bitcoin's Quantum Resistance

Quantum computing research firm Project 11 has launched a bold competition to test just how dangerous quantum computers could be for Bitcoin. The “Q-Day Prize,”

Quantum computing research firm Project 11 has launched a unique competition to test the threat of quantum computers to Bitcoin.

Announced on April 16, the “Q-Day Prize” will award 1 Bitcoin (BTC) — currently valued at around $84,000— to the first team to break a small portion of a Bitcoin private key using a quantum computer by April 5, 2026.

The Twist: No Classical Shortcuts Allowed

The mission is to use Shor’s algorithm on a real quantum computer. No classical computing shortcuts or optimizations are allowed to factor the part of the key.

Even breaking a small portion of a Bitcoin key, e.g., breaking a 100-bit key out of a 256-bit key, would be a huge breakthrough.

“Over 10 million Bitcoin addresses have exposed public keys,” Project 11 warned on X. “But no one has benchmarked how real the quantum threat really is.”

The goal is to push the boundaries of current quantum computing technology and see if Bitcoin’s elliptic curve cryptography (ECC) can be breached with existing hardware and algorithms.

Rapid Advancements in Quantum Computing

Crypto experts like Jameson Lopp and Tether CEO Paolo Ardoino both highlighted the rapid advancements in quantum computing.

IBM, AWS, and other platforms are already offering early access to their quantum chips. For instance, IBM’s Heron chip can handle 156 qubits, and Google’s Willow chip can manage 105 qubits.

Experts estimate that around 2,000 error-corrected qubits would be needed to break a full 256-bit ECC key, which is commonly used in cryptocurrencies like Bitcoin.

No Panic Yet, But Preparation Is Key

While there’s no need for immediate panic, crypto experts agree that the industry should start preparing for a quantum-secure future.

Those who believe they can crack a part of a Bitcoin private key using a quantum computer by the deadline should contact Project Eleven via email.

If someone wins the Q-Day Prize, they will not only receive 1 Bitcoin but could also go down in cryptography history with the first known instance of breaking any portion of a standard cryptographic key using a quantum computer.