The quantum risk to the safety of Bitcoin and different cryptocurrency networks is starting to translate into concrete investments. Undertaking Eleven introduced on January 14 a elevating USD 20 million aimed toward growing instruments that permit these techniques to be protected in opposition to potential quantum assaults sooner or later.
After a primary spherical of USD 6 million in 2025, Undertaking Eleven plans to launch new instruments in early 2026with the intention that the cryptographic transition could be accomplished intentionally and upfront.
As reported by CriptoNoticias, estimates from the Undertaking Eleven crew itself warn that about 33% of all bitcoins (BTC) at present in circulation They’re situated at addresses that might turn out to be weak if present cryptography is not safe.
That state of affairs, though not but fast, poses a structural problem for networks that maintain trillions of {dollars} in worth.
Funding and ecosystem assist
The USD 20 million spherical was led by Fortress Island Ventures, with the participation of corporations linked to the crypto and monetary ecosystem.
The assist is available in a context the place governments and industries have already begun to plan defenses in opposition to quantum computing. For instance, final September, the US SEC introduced its battlehorse in opposition to quantum computing.
Alex Pruden, government director and co-founder of the venture, stated that “we can’t ignore this existential threat,” since Trillions of {dollars} rely on crypto assumptions that might turn out to be out of date.
From Fortress Island Ventures, Nic Carter said that helpful quantum computing represents “probably the most advanced risk that public chains have confronted”.
In dialog with CriptoNoticias, Jameson Lopp, a bitcoiner developer, warned that folks and organizations It’s troublesome for them to spend money on safety earlier than the issue turns into seen. Publish-quantum cryptography requires anticipation and spending at the moment to keep away from a lot bigger losses tomorrow. The financing of initiatives equivalent to Undertaking Eleven goals, exactly, to shut that hole between recognized threat and preventive motion.
What does Undertaking Eleven do and why does it matter?
Undertaking Eleven defines itself as an organization specialised in post-quantum safety and the cryptographic migration of digital property.
Your aim is put together networks and establishments for a gradual transition from present cryptographic schemes in the direction of resistant options to quantum computing.
The central concern is that advances in quantum computing might, over time, weaken elliptic curve cryptography (ECC), the usual that at the moment protects digital keys and signatures on networks like Bitcoin. If that assumption is damaged, the safety of funds and transactions can be compromised.
Different chains, equivalent to Ethereum, use ECC techniques not solely to guard transaction signatures, however in different essential fields, such because the Proof-of-Stake (PoS) consensus mechanism. This makes them in networks with a better diploma of complexity to hedge in opposition to quantum than Bitcoin.
Likewise, Undertaking Eleven additionally collaborates with the Solana Basis and different base layer ecosystems on technical preparation plans.
To keep away from such emergency eventualities, Undertaking Eleven develops sensible instruments: readiness assessments, take a look at environments for migrations, and phased deployment plans in opposition to quantum assaults.
