Quantum threats to the security of Bitcoin and other cryptocurrency networks are beginning to be reflected in tangible investments. Project Eleven was announced on January 14th. Raised $20 million The aim is to develop tools that can protect these systems from possible future quantum attacks.
After conducting the first round of USD 6 million in 2025, Project Eleven plans to release new tools in early 2026Our goal is to help you plan and proactively transition to encryption.
As reported by CriptoNoticias, the Project Eleven team’s own estimates warn: Approximately 33% of all Bitcoin (BTC) currently in circulation These are placed at addresses that could be vulnerable if the current encryption becomes insecure.
This scenario, while not yet immediate, poses a structural challenge to networks that hold trillions of dollars in value.
Investment and ecosystem support
The $20 million round was led by Castle Island Ventures with participation from companies related to the cryptocurrency and financial ecosystem.
This support comes as governments and industry have already begun planning their defenses against quantum computing. For example, last September, the US SEC presented a challenge to quantum computing.
“We cannot ignore this existential risk,” said Alex Pruden, executive director and co-founder of the project. Trillions of dollars depend on crypto assumptions It can become outdated.
Nic Carter of Castle Island Ventures says that useful quantum computing: “The most complex threat faced by public chains”.
In a conversation with CriptoNoticias, Bitcoiner developer Jameson Ropp said that people and organizations Investing in security before problems become apparent is difficult. Post-quantum cryptography, you need to anticipate and invest now to avoid bigger losses tomorrow. Funding for initiatives such as Project Eleven is aimed precisely at bridging the gap between known risks and preventive measures.
What does Project Eleven do? Why is it important?
Project 11 defines itself as a company specializing in post-quantum security and cryptographic transition of digital assets.
your goal is Prepare your network and institutions for a gradual transition From current cryptographic schemes to quantum computing-resistant alternatives.
The biggest concern is that advances in quantum computing could weaken over time elliptic curve cryptography (ECC), the standard that protects digital keys and signatures on networks like Bitcoin today. If this assumption is violated, the security of funds and transactions will be compromised.
Other chains such as Ethereum use ECC systems not only to secure transaction signatures, but also in other important areas such as proof-of-stake (PoS) consensus mechanisms. This allows them to For more complex networks More as a hedge against quantum than Bitcoin.
Similarly, Project Eleven is also collaborating with the Solana Foundation and other base layer ecosystems on technical readiness plans.
To avoid such emergencies, Project Eleven is developing practical tools such as readiness assessments, test environments for migration, and phased deployment plans against quantum attacks.
(Tag translation) Bitcoin (BTC)
