Project Eleven has set a one bitcoin prize for the first team to demonstrate breaking ECC keys using Shor's algorithm by April 5, 2026. Critics argue this challenge is absurd due to the unrealistic deadline, as advancements in quantum computing are expected to take 5-10 years. The economic incentive of one bitcoin, valued at around $80,000, pales in comparison to the potential applications and value of successfully using quantum computing to break various encryption methods, highlighting the challenge's lack of meaningful stakes.
"Expecting a workable proof of concept demonstration that actually breaks a keypair in a single year is pretty laughable at face value..."
"Imagine how much more valuable things could be done with a working quantum computer..."
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