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Project Eleven warns that the quantum critical point may "explode instantly," with the earliest arrival expected around 2030.
Mars Finance News, according to The Block, reports that the quantum-resistant encryption solution Project Eleven has issued a warning that the critical point at which quantum computers could crack modern encryption, “Q-Day,” may arrive as early as 2030, with a more than 50% chance of occurring by 2033. The report predicts that advances in quantum computing will be sudden rather than gradual, and the combined effects of hardware and algorithms could lead to a capability leap that either remains silent or explodes instantly.
Last month, researchers used quantum hardware to derive a 15-bit elliptic curve key, which, although still far from cracking the 256-bit encryption used by Bitcoin, constitutes an initial validation.
Project Eleven estimates that approximately 6.9 million Bitcoins could face quantum risks under certain conditions.