On April 17, it was announced that quantum computing research company Project Eleven provided 1 Bitcoin for its first "Q-Day Award"(a global award that will be awarded to the team that used Shore's algorithm for the first time in a year to crack elliptic curve encryption (ECC) keys on a quantum computer. As Project Eleven points out, Bitcoin uses the Elliptic Curve Digital Signature Algorithm (ECDSA) to sign transactions; quantum computers use Shoor's algorithm, which can theoretically derive private keys from public keys, compromising wallet security. The company estimates that more than 6.2 million bitcoins, worth nearly $500 billion, are at risk. Alex Pruden, CEO and co-founder of Project Eleven, said: "We don't know how far we are from the quantum 'doomsday' scenario of existing encryption technology. The Q-Day Award aims to transform the theoretical threat posed by quantum computers into concrete models."