Quantum Threat: Can Breakthroughs in Computing Decrypt ECC Encryption?

A new competition launched by Project Eleven aims to unlock the secrets of encryption using quantum computing, potentially altering the landscape of digital security. This challenge challenges researchers to create a successful decryption process for Elliptic Curve Cryptography (ECC) using Shor’s algorithm, with a grand prize of one Bitcoin awarded to the first team to achieve this feat. However, some experts question if this competition accurately reflects the technological hurdles and risks associated with quantum technology.