Quantum threats to the safety of Bitcoin and different cryptocurrency networks are starting to be mirrored in tangible investments. Venture Eleven was introduced on January 14th. Raised $20 million The purpose is to develop instruments that may shield these programs from attainable future quantum assaults.
After conducting the primary spherical of USD 6 million in 2025, Venture Eleven plans to launch new instruments in early 2026Our purpose is that will help you plan and proactively transition to encryption.
As reported by CriptoNoticias, the Venture Eleven workforce's personal estimates warn: Roughly 33% of all Bitcoin (BTC) at present in circulation These are positioned at addresses that could possibly be susceptible if the present encryption turns into insecure.
This situation, whereas not but rapid, poses a structural problem to networks that maintain trillions of {dollars} in worth.
Funding and ecosystem help
The $20 million spherical was led by Fort Island Ventures with participation from corporations associated to the cryptocurrency and monetary ecosystem.
This help comes as governments and business have already begun planning their defenses towards quantum computing. For instance, final September, the US SEC introduced a problem to quantum computing.
“We can’t ignore this existential danger,” mentioned Alex Pruden, government director and co-founder of the undertaking. Trillions of {dollars} rely on crypto assumptions It could actually turn into outdated.
Nic Carter of Fort Island Ventures says that helpful quantum computing: “Essentially the most complicated menace confronted by public chains”.
In a dialog with CriptoNoticias, Bitcoiner developer Jameson Ropp mentioned that individuals and organizations Investing in safety earlier than issues turn into obvious is tough. Publish-quantum cryptography, you must anticipate and make investments now to keep away from greater losses tomorrow. Funding for initiatives equivalent to Venture Eleven is aimed exactly at bridging the hole between recognized dangers and preventive measures.
What does Venture Eleven do? Why is it vital?
Venture 11 defines itself as an organization specializing in post-quantum safety and cryptographic transition of digital property.
your purpose is Put together your community and establishments for a gradual transition From present cryptographic schemes to quantum computing-resistant options.
The most important concern is that advances in quantum computing may weaken over time elliptic curve cryptography (ECC), the usual that protects digital keys and signatures on networks like Bitcoin right now. If this assumption is violated, the safety of funds and transactions will probably be compromised.
Different chains equivalent to Ethereum use ECC programs not solely to safe transaction signatures, but additionally in different vital areas equivalent to proof-of-stake (PoS) consensus mechanisms. This permits them to For extra complicated networks Extra as a hedge towards quantum than Bitcoin.
Equally, Venture Eleven can also be collaborating with the Solana Basis and different base layer ecosystems on technical readiness plans.
To keep away from such emergencies, Venture Eleven is creating sensible instruments equivalent to readiness assessments, check environments for migration, and phased deployment plans towards quantum assaults.
(Tag translation) Bitcoin (BTC)
