- An independent researcher has obtained a 15-bit key for an elliptic curve on a publicly available quantum computer.
- For this achievement, the researcher received a reward of 1 BTC.
Independent researcher Giancarlo Lelli used a publicly available quantum computer to generate a 15-bit elliptic curve key. This is a scaled-down version of the same cryptography used in Bitcoin, which uses much larger 256-bit keys.
Post-quantum security startup Project Eleven called this the “largest public demonstration” of cracking an ECDSA key using a quantum computer. It puts nearly $2,5 billion in assets protected by elliptic curve cryptography algorithms at risk.
Project Eleven also awarded Lelli a 1 BTC reward, currently worth approximately $78,000, as part of the Q-Day Prize program. The program launched in 2025 with the goal of cracking elliptic curve keys of 1 to 25 bits by April 5 of this year.
Lelli derived the private key from the public key in a search space of size 32,767 using a variant of Shor’s algorithm. Shor’s algorithm is designed to solve the elliptic curve discrete logarithm problem (ECDLP), a mathematical problem underlying the digital signature schemes that secure Bitcoin, Ethereum, and most blockchains, Project Eleven reported.
Crypto industry executives and computer scientists have been warning for years that quantum computers pose a threat to approximately $450 billion worth of bitcoins stored at legacy addresses whose public keys are known.
Previously edited Happy Coin News Reported, which, according to Bernstein analysts, Bitcoin-communities have three to five years to prepare for the quantum threat.
Risk Warning:
The information on this website is for informational and educational purposes only and does not constitute investment advice or financial recommendations. Cryptocurrencies and digital assets carry a high level of risk, including possible loss of capital. The editors are not responsible for decisions made based on the published materials. It is recommended that you conduct your own research (DYOR) before making investment decisions. Read the editorial policy. https://happycoin.club/about/