Project Eleven has completed a $20 million funding round at a $120 million valuation, aiming to address the threat of quantum computing to cryptocurrency
BlockBeats News, January 14th, according to Axios, the startup company Project Eleven, dedicated to protecting cryptocurrency from quantum computing threats, has completed a $20 million financing round, valuing the company at $1.2 billion.
Quantum computing technology has the potential to break the underlying cryptographic mechanisms that support cryptocurrency security, which has been a longstanding concern in the cryptocurrency industry. Project Eleven focuses on addressing this issue by developing solutions to withstand quantum computing attacks, ensuring the security of blockchain networks and digital assets.
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