pull down to refresh

A startup has raised $6 million in a seed round to protect Bitcoin from quantum computing.

Project 11, which focuses on quantum computing's hypothetical threat to the leading crypto network, announced the raise Thursday, which was co-led by Variant and Quantonation, and included participation from venture capital firms Castle Island Ventures, Nebular, and Formation.

All these things are so light on details.

Their website doesn't make it easy to see what that their proposed solution is, but this blog post at least explains something about a product they call yellowpages:

yellowpages addresses this urgent need proactively, creating a secure link between your current Bitcoin keys and new quantum-resistant keys. Here's how it works:

-You generate a set of quantum-resistant key pairs[7].
-You create a cryptographic proof linking your existing Bitcoin address to these new quantum-resistant addresses – without exposing sensitive information.
-Your proof is securely timestamped and registered in our publicly verifiable registry.

It seems like a pretty poor solution to me.

reply