Bitcoin Faces Quantum Test as Naoris Launches High-Stakes Bounty Program
Quantum computing may still be years—or decades—away from posing a real threat to blockchain security, but cybersecurity firm Naoris isn’t waiting around. In a bold move to future-proof the industry, Naoris has launched a $120,000 bounty program inviting researchers to break the cryptographic foundations of major blockchain networks like Bitcoin, Ethereum, and Solana.
The firm’s message is clear: if there’s a flaw, let’s find it now—before quantum computing does.
A Breakdown of the Bounty
Naoris is challenging cryptographers, hackers, and researchers worldwide to do what no one has managed yet: break the elliptic curve cryptography that keeps crypto networks secure. Here's how the bounty is structured:
- $50,000: For anyone who can crack secp256k1, the elliptic curve algorithm securing Bitcoin, Ethereum, and several other leading protocols.
- $30,000: For breaking Ed25519, the cryptographic standard behind Solana, as well as encrypted messaging apps like Signal and WhatsApp.
- $20,000: For successfully attacking NIST P-256, the curve used in TLS (Transport Layer Security), the protocol that secures most web traffic.
- $10,000: For compromising other elliptic curves, including P-224, P-384, and P-521.
While these payouts are enticing, the real prize may be the early warning system this initiative creates.
Why This Matters: The Quantum Threat
Elliptic curve cryptography underpins nearly every aspect of modern digital security—from cryptocurrency wallets to encrypted emails. If one of these curves is broken, it could unravel the safety of entire ecosystems.
For example, compromising secp256k1 would jeopardize Bitcoin’s entire transaction model, including the Lightning Network and many Ethereum Layer-2s. As of today, cracking this algorithm using traditional GPU hardware would take longer than the age of the universe—roughly 10 billion trillion years.
lucaselblancBut quantum computing changes the math. Although functional quantum systems capable of such tasks are still speculative, most cryptography experts agree that it’s not a question of if, but when. That uncertainty has already pushed the crypto industry to start preparing.
Bitcoin Takes Early Defensive Steps
Just this month, a new Bitcoin Improvement Proposal (BIP) was introduced to begin phasing out older cryptographic signature schemes, in anticipation of future quantum threats. The proposal highlights the stakes: a successful quantum attack could compromise miners’ ability to secure the network and cause severe economic damage across the Bitcoin ecosystem.
Even Bitcoin's mysterious creator, Satoshi Nakamoto, could be affected. In a recent interview, early cypherpunk Adam Back speculated that if quantum computing becomes a real threat, Satoshi may be forced to move their long-dormant holdings to prevent them from being stolen—potentially revealing their identity after more than a decade of silence.
i think quantum readiness is the right balance - not like there is any current risk, nor likely for this decade, or probably the next. but being ready is ok👍
— Adam Back (@adam3us) December 17, 2024
Beyond Bitcoin: Cross-Chain Solutions Emerge
Other projects are exploring blockchain-agnostic defenses. Sui Research, for instance, recently unveiled a cryptographic framework that aims to protect against quantum attacks without requiring major protocol changes like hard forks or address resets. While promising, this solution doesn’t yet extend to Bitcoin or Ethereum, as it’s designed for EdDSA-based networks such as Sui, Solana, Near, and Cosmos.
