Project Eleven, led by CEO Alex Pruden, raised 6 million USD in a round co-led by Variant Fund and Quantonation. This marks Quantonation’s debut crypto investment, aiming to bolster Bitcoin security against quantum computing issues.
Currently, about 10,095,693 Bitcoin addresses are exposed, compromising 6,262,905 BTC, valued at around 648 billion USD, to potential quantum attacks. The initial tool, Yellowpages, seeks to connect existing addresses with quantum-resistant alternatives.
Project Eleven is collaborating with Bitcoin Core developers to enhance security measures. The urgency of addressing quantum threats is emphasized as the US National Security Agency aims for quantum-resistance in security systems by 2035.
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