Project Eleven awards 1 BTC after researcher breaks 15-bit elliptic-curve key on public quantum hardware
The Facts
- Project Eleven awarded its 1 BTC Q-Day Prize to Giancarlo Lelli for breaking a 15-bit elliptic-curve cryptography key.
- The demonstration used a publicly accessible or cloud-accessible quantum computer to derive a private key from its paired public key.
- Reports say Lelli used a variant of Shor's algorithm in the attack.
- The 15-bit key is much smaller than the 256-bit elliptic-curve keys used by Bitcoin, so the test does not show that current Bitcoin keys can be broken today.
- Multiple sources describe the result as the largest public demonstration to date of this class of quantum attack on elliptic-curve cryptography.
- Elliptic-curve cryptography underlies digital signature systems used by Bitcoin, Ethereum, and other blockchain networks, which is why the result has drawn attention beyond a single research contest.
- The result has renewed discussion about post-quantum migration plans and the timeline for when quantum computers could become a practical threat to cryptocurrency systems, but sources do not agree on how soon that risk could materialize.
Context
Did this break Bitcoin's actual cryptography?
No. The demonstration broke a 15-bit elliptic-curve key, while Bitcoin uses 256-bit elliptic-curve cryptography; several sources say that gap is large and that the test does not pose an immediate threat to existing Bitcoin wallets Cointelegraph,AMBCrypto,Decrypt.
Why is a 15-bit test getting attention if it does not threaten wallets now?
It matters because elliptic-curve cryptography is the mathematical basis for signatures used by Bitcoin, Ethereum, and many other systems, and multiple reports say this was the largest public demonstration so far of a quantum attack in that category CNHI News,Decrypt,blockchain.news.
What remains unresolved after this result?
The main open question is timing: sources agree the experiment is far from breaking real 256-bit keys, but they also say it has intensified debate over how quickly quantum hardware and post-quantum migration efforts may need to advance Cointelegraph,CoinDesk,BeInCrypto.
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