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Project Eleven is a research and development organization focused on post-quantum cryptography for digital assets, building infrastructure to help blockchain networks such as Bitcoin and Ethereum address the threat of quantum computing. Its core work includes: publishing the Bitcoin Risq List, a tracker of quantum-vulnerable Bitcoin; launching yellowpages, which binds post-quantum keys to existing Bitcoin addresses to facilitate future migration; deploying an ML-DSA-based post-quantum signature scheme on a Solana testnet; and open-sourcing high-performance implementations of NIST-standardized post-quantum algorithms.
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About Project Eleven
Project Eleven is a post-quantum cryptography infrastructure provider focused on helping blockchain networks and digital asset holders prepare for the threat of quantum computers. Its core business includes developing quantum-resistant signature schemes, migration tools, and security assessment frameworks for major chains like Bitcoin, Ethereum, Solana, and XRP Ledger.
The project's key value proposition is treating migration as a product: it offers a suite of diagnostics, staging, rehearsal, and deployment tools rather than just theoretical papers. Notable deliverables include the PQ Registry (an open catalogue of post-quantum algorithms), ML-DSA-B (an optimized signature variant), THINCS (a compact hash-based signature scheme), and a ZK-proof prototype that lets Bitcoin holders prove ownership of funds without moving them on-chain.
The market pain point is clear: quantum computers could eventually derive private keys from public ones, putting billions in digital assets at risk. However, upgrading legacy blockchains is slow and complex—hardware wallets lack memory for new signatures, and consensus changes are difficult. Project Eleven addresses this by providing practical migration paths, including a "yellow pages" mechanism that binds existing addresses to new post-quantum keys via timestamped proofs.
In the past six months (March to September 2026), the project unveiled its ZK-proof prototype for Bitcoin ownership, collaborated with Solana Foundation on post-quantum signature testing, and released the PQ Registry as an open standard. It also published a threat report placing Q-Day baseline at 2033. However, independent analysts have noted that the yellow pages approach could introduce new trust surfaces and timestamping disputes, and that the industry's lack of urgency may leave even good tooling unused.
Project Eleven has emerged as a leading post-quantum security solution for digital assets. Key milestones include: launching a Bitcoin quantum vulnerability recovery tool (prototype unaudited), issuing a warning that the quantum critical point may arrive as early as 2030 with over 50% probability by 2033, raising $20 million at a $120 million valuation, and partnering with Solana to build quantum-resistant signatures. These steps underscore its long-term mission to safeguard blockchain ecosystems against future quantum threats, emphasizing proactive migration and open-source tools for risk assessment.
Key progress from 2026-03-01 to 2026-09-01:
On July 15, 2026, Project Eleven unveiled a zero-knowledge proof prototype for Bitcoin ownership after quantum attacks. The scheme lets wallet owners prove control over funds without revealing keys, and is designed for post-quantum migration.
Project Eleven awarded the Q-Day Prize (1 BTC) to Giancarlo Lelli for breaking a 15-bit elliptic curve key on a publicly accessible quantum computer — the largest public demonstration of the attack class threatening Bitcoin and Ethereum.
Collaboration with Ripple advanced XRP Ledger post-quantum readiness, including hybrid signing, validator-level testing, and a custody wallet prototype, as part of Ripple's Phase 2 roadmap.
Future focus and roadmap:
- Developing the next challenge at the intersection of frontier AI models and quantum cryptanalysis.
- Continuing to build post-quantum infrastructure for Bitcoin, Ethereum, and other digital assets, including the Bitcoin Risq List and Quantum Vault reference implementation.
- Expanding the Q-Day Prize series to further demonstrate and mitigate quantum risks.
Project Eleven's co-founders and key executives include:
- Alex Pruden (CEO): Former U.S. Army Special Forces officer, MBA from Stanford, previously at Coinbase and GGV Capital.
- Conor Deegan (CTO): Previously Product Manager at 888holdings, MSc in Computer Science from University College Dublin.
- Leeor Mushin (Co-founder): Background in cryptography and blockchain, details not fully disclosed.
- Finn Murphy (Co-founder): Background in technology and startups, details not fully disclosed.