Project 11 is offering 1 BTC to whoever cracks the longest Bitcoin key

Quantum researchers are offering 1 Bitcoin to whoever cracks the biggest “toy version” of a Bitcoin key using Shor's algorithm on a quantum computer.

Quantum computing research firm Project Eleven has launched a competition to see just how much of a threat quantum computing currently poses to Bitcoin.

Launching the competition on April 16, Project Eleven said it is offering 1 Bitcoin (BTC) to whoever cracks the biggest chunk of a Bitcoin key using a quantum computer within the next year. 

Project Eleven said the purpose of the “Q-Day Prize” is to test “how urgent the threat” of quantum is to Bitcoin and to find quantum-proof solutions to secure Bitcoin over the long term.

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