The Q-Day Prize is a challenge created by Project 11 to enhance Bitcoin's resistance to quantum computing threats. This competition aims to break a simplified version of Bitcoin's cryptography by April 5, 2026, with a reward of 1 Bitcoin. Bitcoin relies on the SHA-256 algorithm, developed by the NSA, to secure its network. However, quantum computing may pose a significant risk, as algorithms like Shor's could potentially derive private keys from public keys, compromising the integrity of Bitcoin wallets. Two types of Bitcoin addresses, P2PK and P2PKH, have varying vulnerabilities to quantum attacks, with P2PK being more susceptible. While the threat is real, it is not immediate, and efforts are ongoing to develop quantum-resistant algorithms. The article underscores that keeping wallets secure by avoiding address reuse and moving funds to private wallets can help mitigate risks while awaiting advancements in quantum-proof technology.

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