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Project Eleven Launches "Q-Day Prize" Challenge: Offering a Reward of 1 Bitcoin for Cracking the ECDSA Signature
Gate.io News bot, according to TheBlock, quantum computing research company Project Eleven announced the establishment of the “Q-Day Award” challenge program. The program will award 1 Bitcoin (approximately $84,000) to the first team to successfully crack Bitcoin’s ECDSA signature mechanism using a quantum computer within one year.
The challenge requires participants to breach Bitcoin’s cryptographic system using the Shor algorithm. According to Project Eleven, about 6.2 million bitcoins (about $500 billion) around the world currently use this signature mechanism.