The Rise of Project Eleven
In 2024, Project Eleven emerged with a mission distinct from typical crypto trends—it addresses a growing systemic threat that mainstream protocols often overlook: quantum computing's potential to compromise cryptographic security. By implementing post-quantum cryptography (PQC) mechanisms in Bitcoin and other blockchain protocols, Project Eleven aims to fortify crypto assets against future quantum attacks before current encryption standards become obsolete.
Project Eleven's Core Innovation: Yellowpages Protocol
The team's first product, Yellowpages, introduces a novel approach to quantum-resistant key management for Bitcoin holders. This protocol enables users to:
- Generate quantum-resistant keys linked to existing BTC addresses
- Maintain original asset ownership without migration or protocol changes
- Establish an additional security layer through hybrid on-chain/off-chain validation
Key advantages of this design include:
- Zero disruption to Bitcoin's core protocol
- Backward compatibility with current wallets and addresses
- Gradual adoption path for PQC integration
The Quantum Threat Landscape
Project Eleven's research reveals alarming statistics (as of January 2025):
| Risk Factor | Metric |
|---|---|
| Bitcoin vulnerable to quantum attacks | 6,262,905 BTC |
| Equivalent USD value | $648 billion |
| Primary risk sources | Static storage, exposed private keys, lost mnemonics |
These figures underscore the urgent need for solutions protecting high-risk assets against quantum decryption threats.
Team Composition and Expertise
Project Eleven brings together specialists across cryptography and decentralized systems:
- Alex Pruden (CEO): Former Aleo president with Stanford cryptography background
- Finn Murphy (Co-founder): Data privacy expert from Nebular and Pool Data
- Conor Deegan (VP Engineering): Ex-Pool Data CTO leading PQC integration
- Leeor Mushin (Strategic Advisor): Formation VC co-founder guiding early-stage strategy
Funding and Development Milestones
Investment Highlights:
- $6M early-round funding (June 2025)
- Led by Variant Fund and Quantonation
- Participation from Castle Island Ventures, Ambush Capital, and Formation
Notable Angel Investors:
- Joe Lallouz (Bison Trails/Coinbase Cloud)
- Zaki Manian (Cosmos ecosystem)
- Anna Rose (ZK Validator)
Current Status:
- Yellowpages prototype in baseline testing phase
- Security audit by Cure 53 pending release
- No mainnet deployment or third-party integrations announced
- No token plans or incentive programs disclosed
FAQ: Addressing Key Questions
Q: How does Yellowpages differ from quantum-resistant blockchains?
A: It enhances existing Bitcoin addresses rather than requiring migration to new chains.
Q: Will users need new hardware or software?
A: No—the solution maintains compatibility with standard Bitcoin wallets.
Q: When will quantum computers threaten Bitcoin?
A: While timelines vary, Project Eleven prepares for when quantum machines can break ECDSA (estimated 10-15 years).
Q: How does PQC affect transaction speeds?
A: Yellowpages uses optimized algorithms to minimize computational overhead.
👉 Explore cutting-edge crypto security solutions
Strategic Positioning
Project Eleven distinguishes itself by:
- Focusing on preventive security rather than reactive fixes
- Prioritizing Bitcoin-first compatibility
- Adopting a modular approach for future blockchain integration
The team emphasizes their role as security component providers rather than chain builders, with roadmap plans to:
- Expand PQC support to other UTXO-based chains
- Develop monitoring tools for quantum vulnerability risks
- Collaborate with academic institutions on cryptography research
👉 Stay updated on quantum-resistant crypto developments
Conclusion: Proactive Defense in Crypto's Next Era
As quantum computing advances from theory to practical threat, Project Eleven represents a rare case of Web3 infrastructure preparing for tomorrow's challenges today. Their Bitcoin-focused PQC implementation offers a pragmatic transition path—one that respects network effects while upgrading critical security foundations.
Disclaimer: This content represents market analysis only, not investment advice. Always conduct independent research before engaging with crypto projects.