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 goal is to develop instruments that may shield these programs from potential future quantum assaults.
After conducting the primary spherical of USD 6 million in 2025, Venture Eleven plans to launch new instruments in early 2026Our aim is that can assist you plan and proactively transition to encryption.
As reported by CriptoNoticias, the Venture Eleven staff’s personal estimates warn: Roughly 33% of all Bitcoin (BTC) at present in circulation These are positioned at addresses that may very well be susceptible if the present encryption turns into insecure.
This situation, whereas not but quick, poses a structural problem to networks that maintain trillions of {dollars} in worth.
Funding and ecosystem help
The $20 million spherical was led by Citadel Island Ventures with participation from corporations associated to the cryptocurrency and monetary ecosystem.
This help comes as governments and trade have already begun planning their defenses in opposition to quantum computing. For instance, final September, the US SEC introduced a problem to quantum computing.
“We can’t ignore this existential threat,” mentioned Alex Pruden, government director and co-founder of the venture. Trillions of {dollars} rely upon crypto assumptions It might change into outdated.
Nic Carter of Citadel Island Ventures says that helpful quantum computing: “Probably the most advanced risk confronted by public chains”.
In a dialog with CriptoNoticias, Bitcoiner developer Jameson Ropp mentioned that folks and organizations Investing in safety earlier than issues change into obvious is troublesome. Publish-quantum cryptography, it’s essential to anticipate and make investments now to keep away from greater losses tomorrow. Funding for initiatives corresponding to Venture Eleven is aimed exactly at bridging the hole between identified 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 aim is Put together your community and establishments for a gradual transition From present cryptographic schemes to quantum computing-resistant alternate options.
The largest 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 in the present day. If this assumption is violated, the safety of funds and transactions will likely be compromised.
Different chains corresponding to Ethereum use ECC programs not solely to safe transaction signatures, but in addition in different vital areas corresponding to proof-of-stake (PoS) consensus mechanisms. This permits them to For extra advanced networks Extra as a hedge in opposition to quantum than Bitcoin.
Equally, Venture Eleven is collaborating with the Solana Basis and different base layer ecosystems on technical readiness plans.
To keep away from such emergencies, Venture Eleven is growing sensible instruments corresponding to readiness assessments, check environments for migration, and phased deployment plans in opposition to quantum assaults.
