The Quantum Computing Organization is offering a reward of 1 Bitcoin for cracking the encryption key

BlockBeats News, on April 17, according to CoinDesk, quantum computing research institute Project Eleven launched a global competition “Q-Day Challenge”, rewarding 1 bitcoin for the first team to successfully use a quantum computer to crack the elliptic curve encryption key ECC through the Shore algorithm, which is the core mechanism to ensure the security of Bitcoin’s network. As a breakthrough method in the field of quantum computing, Shore’s algorithm can efficiently realize the factorization of large numbers of prime factors, and can theoretically crack the RSA and elliptic curve encryption algorithms that the Bitcoin blockchain network relies on. Studies have shown that quantum computers may have a chance to crack single-signature addresses in the Bitcoin network if they make a leap in computing power. Although the industry has proposed solutions such as the “Quantum-Resistant Address Transfer Protocol” (QRAMP) and the “Coarse-grained Boson Sampling Technology” (CGBS), they all need to be implemented through the hard fork of the Bitcoin network, and changes to the underlying protocol require a broad consensus from the community.