Project Eleven
@qdayclock
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Today we’re announcing a $6 million seed round at Project Eleven, to build a quantum-ready future for digital assets. The seed round was co-led by @variantfund and @Quantonation with participation from @CastleIslandVC, @Nebularvc, and @formation_vc. Why this matters: Quantum.
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Quantum Resource Estimation Workshop at @IEEEQuantumWeek featuring Project Eleven Founding Team Member Tom McCarthy.
sites.google.com
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Project Eleven CEO @apruden08 will be attending @IEEEQuantumWeek with Project Eleven Founding Team Member Tom McCarthy who is presenting alongside @Google @XanaduAI @PsiQuantum @UofT @LosAlamosNatLab @MITLL and @OQI_at_CERN at the Quantum Resource Estimation Workshop. Reach out
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New node just shipped (v24.7.0) which adds post-quantum cryptography in node:crypto . The post mentions that a proposal for PQ algorithms in the Web Cryptography API "was recently accepted for incubation by WICG". Wen PQ algorithms in browsers?.
nodejs.org
Node.js® is a free, open-source, cross-platform JavaScript runtime environment that lets developers create servers, web apps, command line tools and scripts.
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RT @apruden08: @VitalikButerin is among a number of experts (incl quantum physicists) whose estimates for Q-Day have notably moved **up** (….
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Cryptographically Relevant Quantum Computers won't exist for a million years. (The Wright Brothers achieved manned flight on December 17, 1903. )
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"Metaculus's median date for when quantum computers will break modern cryptography is 2040. Seemingly about a 20% chance it will be before end of 2030." - @VitalikButerin . Are you ready to take this risk seriously? Should we gamble the $4 trillion of crypto or protect it?.
@secparam Metaculus's median date for when quantum computers will break modern cryptography is 2040:. Seemingly about a 20% chance it will be before end of 2030.
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Why are Microsoft requiring all core services to use post-quantum cryptography by 2030? What do you know that they don't?.
@Cointelegraph No.
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Exactly zero of the widely used blockchains are "quantum secure" today.
@Cointelegraph Lucky then that #Hedera is EVM compatible and Quantum secure I Guess . .
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It is VERY possible, and actually likely. IBM predicts a cryptographically relevant quantum computer is likely by 2030. Microsoft is requiring all core services to use post-quantum cryptography by 2030. They're coming.
@Cointelegraph currently not posiible and not possible in next 10 years… this probability is insane.
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Very common misconception - Quantum risk is not about mining or staking (anytime soon), it's about the digital signatures that can be forged to spend coins.
@Cointelegraph yeah ETh is not safe . tell me sth new ! btc is protected by 900 EH !!!.
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OK, your wallet upgrades. How do you, the user, upgrade as well? Every. Single. User. will still need to take some action to safely migrate to the post-quantum world. This is a massive coordination problem that will take years.
@Cointelegraph Just upgrade the cryptography to quantum wallets then.
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Project Eleven are building post-quantum solutions right now. We've made progress educating the market with on what a migration pathway could look like for users.
@Cointelegraph 20% chance quantum breaks crypto before 2030? That’s basically a countdown clock. ⏳ The real question: who’s actually building post-quantum solutions right now… or are we all just betting on luck?.
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This is a common thing we hear: crypto is more secure than banks! Quantum will kill the banks; not crypto!. (Many of) your public keys are exposed to the world, and the easiest attack a quantum computer will engage in is called a long-range grinding attack. Quantum computers to.
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Yes, there are a lot of organizations working on post-quantum cryptography, but, EVERY blockchain, EVERY protocol, EVERY wallet, AND EVERY user still needs to migrate. This process around coding, testing, implementing, generating social consensus, and then users actually.
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🚨VITALIK: 20% chance quantum computers break modern cryptography before end of 2030. The replies to the below are very illustrative of where the majority of people are in their knowledge on quantum and its impact on crypto. Let's tackle some misconceptions 👇👇👇.
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One of our most important educational initiatives is around long-range grinding attacks. It's what makes crypto an incredibly likely target once a CRQC exists.
@qdayclock @ConorDeegan4 @ethereum Exactly! Ethereum can withstand the hash-based layer, but the signature system is its real “Achilles’ heel.”.CRQC doesn’t need to attack within block-time (mempool); it can slowly “grind” away at the public keys that have been exposed on-chain for years. The first risks won’t be.
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RT @ConorDeegan4: Ethereum has two main cryptographic pillars:. - Signatures (ECDSA, BLS).- Hashes (Keccak-256). Quantum computers don't br….
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Link to the P11 blog where you can find more posts like the above:
blog.projecteleven.com
An analysis of Ethereum’s quantum vulnerabilities: why hashes remain safe, but signatures like ECDSA and BLS become breakable under Shor’s algorithm.
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