Branded the “Q‑Day Prize,” the challenge asks entrants worldwide to crack a toy version of Bitcoin’s elliptic curve cryptography with Shor’s algorithm running on real quantum hardware, no classical shortcuts allowed. Any individual or team may register online, submit gate‑level code, and describe the machine used. A deadline of April 5, 2026, looms, after which Project Eleven will publish all submissions in the name of transparency.

Project Eleven, which describes itself as a nonprofit devoted to “applied quantum computing for the benefit of humanity,” says the exercise measures how urgently six million bitcoin—worth more than half a trillion dollars—need fortification before quantum advances outpace today’s defenses. The group notes more than ten million addresses have already revealed public keys that could, in theory, be harvested the moment an applicable quantum computer exists.

Yet the incentive’s logic is peculiar. If a participant truly pierced Bitcoin’s elliptic curve shield, confidence in the network could vanish overnight, vaporizing the purchasing power of the promised coin. Using current exchange rates, the prize is about $84,500, but a successful attack would potentially drive that figure toward zero—meaning victors might prove a catastrophic point only to receive essentially worthless spoils for their trouble.

Estimates suggest roughly a few thousand logical, error‑corrected qubits would be enough to break a 256‑bit elliptic curve key, a milestone that optimists believe could arrive within a decade. Today’s best machines manage only a few hundred noisy qubits, and even tiny four‑bit demonstrations remain difficult. By offering a BTC prize, Project Eleven hopes to replace speculation with data and nudge hardware makers toward reproducible performance benchmarks in cryptanalysis.

In recent times, crypto proponents and blockchain developers have been discussing and evaluating post‑quantum alternatives for Bitcoin. Still, no public attack has cracked even toy keys with physical qubits, so the Q‑Day Prize may chiefly function as a publicity bellwether for quantum readiness. Whether it sparks a breakthrough or fades into trivia, the countdown to April 2026 has begun for cryptographers.

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