Project Eleven Raises $6M to Defend BTC From the Coming Quantum Threat

Project Eleven Raises $6M to Defend BTC From the Coming Quantum Threat

Project Eleven has raised $6 million to protect bitcoin BTC from the existential threat of quantum computing, as fears mount that the network’s core cryptography could one day be rendered obsolete.The round was co-led by Variant Fund and Quantonation, with participation from Castle Island Ventures alongside founding investors Nebular and Formation, according to a release."As quantum computing capabilities advance, the threat to systems like Bitc…

Crypto Security Firm Project Eleven Secures $6M To Combat Quantum Computing Threat

BitcoinWorld Crypto Security Firm Project Eleven Secures $6M to Combat Quantum Computing Threat In the rapidly evolving world of digital assets, staying ahead of potential threats is paramount. One such looming challenge is the advent of quantum computing, which threatens to break the foundational cryptography securing today’s blockchain networks and digital wallets. Addressing this critical future vulnerability, Project Eleven, a developer focu…

Variant co-Leads $6M Seed Round for Startup Looking to Protect BTC from Quantum Attacks

Quick take: Project Eleven says it has been working on its technology for the past 10 years to create trust in digital interactions. The company seeks to apply post-quantum cryptography (PQC) to existing protocols, starting with Bitcoin. Every wallet, account holder, and private key will be required to upgrade to a new quantum-safe cryptocurrency to protect it from quantum attacks. Project Eleven, the crypto project building at the intersection…

Project Eleven Raises $6M to Launch Post-Quantum Bitcoin Registry and Secure Digital Assets - Quantum Computing Report

Project Eleven has raised $6 million in seed funding to accelerate the development of post-quantum cryptography infrastructure for Bitcoin and other digital assets. The round was co-led by Variant Fund and Quantonation, marking Quantonation’s first investment in the crypto sector. Other participants include Castle Island Ventures, Nebular, and Formation. The company’s flagship initiative, “Yellowpages,” is [...] The post Project Eleven Raises $6…

How Will Bitcoin Defend Against Quantum Computing? This Project Just Raised $6M

Project 11 is working on protecting the leading crypto network against the potential threat.