Naoris Launches $120,000 Bounty to Test Elliptic Curve Quantum Resistance

Naoris Protocol has initiated a $120,000 bounty program to evaluate the resilience of elliptic curve cryptography against potential threats posed by quantum computing advancements [1]. This effort, aimed at identifying vulnerabilities in widely used cryptographic algorithms, underscores the growing emphasis on post-quantum security in the blockchain and digital infrastructure sectors [2]. The program challenges cryptographers to break key elliptic curve standards that currently safeguard systems ranging from Bitcoin’s $2.4 trillion market to the $410 trillion global banking network [1].

The bounty offers rewards of $50,000 for breaking the secp256k1 curve, $30,000 for Ed25519, $20,000 for NIST P-256, and $10,000 for other major elliptic curves [1]. These algorithms are foundational to securing digital systems, including financial services, encrypted communications, and government infrastructure. As quantum computing capabilities progress, experts warn that traditional encryption methods may become obsolete, prompting the need for proactive security testing and transition to quantum-resistant alternatives [2].

The initiative highlights the urgency of preparing for a post-quantum future, as current quantum computers are estimated to require 2,330 logical qubits to break 256-bit elliptic curve cryptography, a threshold expected to be reached within the next decade or two [1]. Naoris CEO David Carvalho emphasized that the program is not an attack on blockchain technology but a necessary step to ensure its long-term viability. “When quantum computers achieve this in the next decade or two, it won’t be a drill,” he stated, stressing the importance of transitioning to post-quantum solutions before vulnerabilities can be exploited [2].

Naoris Protocol, which is developing quantum-resistant blockchain infrastructure using lattice-based cryptography, serves a range of global enterprises and government agencies [1]. The bounty program aligns with its mission to build resilient systems that can withstand both classical and quantum threats [2]. By engaging the cryptographic research community, the protocol aims to strengthen its infrastructure and accelerate the adoption of post-quantum standards across the industry [1].

The move reflects a broader trend among private and public sector stakeholders to address future cybersecurity risks. Governments, including the NSA, have already begun transitioning to quantum-resistant algorithms, signaling the importance of proactive adaptation in the face of emerging technologies [1]. As the crypto industry continues to mature, cryptographic security is becoming a key differentiator, with forward-thinking projects like Naoris positioning themselves as leaders in this evolving landscape [2].

Source:

[1] Naoris Protocol Launches $120K Post-Quantum Bug Bounty Amid Growing Cryptographic Security Focus. (url: https://www.thestreet.com/crypto/press-releases/naoris-protocol-launches-120k-post-quantum-bug-bounty-amid-growing-cryptographic-security-focus)

[2] Naoris Protocol Offers $120K Bounty to Test Elliptic Curve ... (url: https://www.ainvest.com/news/naoris-protocol-offers-120k-bounty-test-elliptic-curve-crypto-resistance-2508/)