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Project Eleven, a quantum computing research group, has announced a competition that will reward the first team to successfully break the ECC encryption key using Shor’s algorithm. The goal of this contest is to demonstrate the impact of quantum technologies on current encryption methods.
Bitcoin Prize
Participants are required to complete the decryption process within a specified time frame. The competition offers a single Bitcoin 
$104,270 as a prize, with the submission deadline set for April 5, 2026.
This contest highlights the potential of quantum computers to perform calculations significantly faster than traditional computers. Although quantum technology has not yet reached the desired performance levels, it holds promise for the future.
Technological Reality and Economic Perspective
Some scientists predict that quantum computers may need five to ten years to practically break sensitive encryption methods. In this context, the duration of the competition and the prize amount are viewed as disproportionate to current technological advancements. Concerns have been raised that the prize may be inadequate compared to potential risks and benefits. Nonetheless, the competition remains exciting as it opens doors to comprehensive practical experiments.
The project also discusses the possible impacts of quantum computers on encryption systems and data security risks in the future. Experts suggest that the technology requires longer-term developments and that such competitions are mainly organized for promotional purposes. Although it seems unlikely that there will be a winner, the challenge could still provide unique experiences in pushing boundaries under conditions where failure is expected.
In conclusion, while Project Eleven’s announcement has sparked public interest, there is a prevailing view that it lacks solid foundations in terms of technical challenges and economic returns. It is anticipated that the advancement of quantum technologies will lead to the search for new solutions in the field of data security.
