Project Eleven proposes a cryptographic method to verify Bitcoin wallet ownership after quantum computers break current encryption standards.
Security firm Project Eleven introduced a cryptographic technique to allow Bitcoin users to prove wallet ownership after quantum computers can forge digital signatures. The proposal addresses concerns that quantum attacks could render elliptic curve cryptography obsolete, making signatures unreliable as proof of ownership.
The prototype, developed with Binius maintainer Jim Posen, builds on academic research but remains unaudited. Implementation would require blockchain protocol support. Industry focus has shifted to post-Q-Day scenarios, where quantum adversaries could derive private keys from public keys.
Project Eleven CEO Alex Pruden noted the challenge lies in proving ownership once signatures can be forged by both attackers and legitimate owners. The solution aims to mitigate risks ahead of Q-Day, the hypothetical point when quantum computers break Bitcoin’s security.