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

Startup raised $ 6 million in a seed circle for protection Bitcoin from quantum calculation.

Project 11, which focuses on the hypothetical threat of Quantum Computing the leading crypto network, announced on Thursday, raised by a variant and quantance, and included participation from the company of risk capital company Castle Island Ventures, Nebular and Formation.

The company said Quantum Computing is a Bitcoin threat, so “every wallet, every account owner, every smart contract key-all to-cine upgrade to a new, quantum-safety cryptography.”

“The cryptographic relevant quantum computer will break the basic security assumptions of Bitcoin and almost every digital property,” Project 11 said in a statement.

“With a quick progress of companies like IBM Google, that future is no longer hypothetical. It comes quickly and there is no time to prepare.”

Quantum calculation is a new type of technology that uses quantum physics to process far more information than classic machines.

Such computers are not yet available to the public, and top technological companies like Google and IBM are working on their development.

But some in the cryptic space expressed concern about making technological giants Bigger steps To release quantum computers, Bitcoin cryptography could crack.

Bitcoin network is currently the world’s safest computer network – and it’s never hacked.

In order to break the network cryptography, the bad actor should take control of more than 50% Bitcoin network, which would require a huge amount of computer power.

Hardcore Bitcoiners like the co -founder of the strategy and chairman Michael Saylor shrugged Concern about quantum computer science, saying that when such a threat there is, other computer networks – used like bank giants or US army – will face a higher risk.

“I don’t worry about that,” he said. “Microsoft and Google markets their quantum projects, but they would never sell quantum computer that broke cryptography because it would destroy their own businesses.”

Bitcoin was Recent trading About $ 104,250, roughly flat in the past 24 hours.

Edited James Rubin