Project Eleven: Building a Quantum Defense System for the encryption World

In 2024, a project called Project Eleven quietly launched, aiming not to focus on hot topics such as liquidity, airdrops, or modularization, but to confront a long-neglected yet increasingly imminent systemic risk: the potential threat of quantum computing to the security of encryption assets. By deploying Post-Quantum Cryptography (PQC) mechanisms in Bitcoin and other blockchain protocols, Project Eleven is dedicated to building a defensive line for the entire encryption world before the existing encryption system may face collapse.

Project Eleven's Innovative Solutions

The first product launched by Project Eleven is a protocol tool called "yellowpages". Its core function is to help Bitcoin holders generate a set of quantum-resistant keys and bind them to existing BTC addresses, providing a proof of ownership mechanism for traditional Bitcoin addresses that is suitable for the post-quantum era.

The cleverness of this design lies in the fact that it does not require users to migrate assets, change usage habits, or switch on-chain identities. Instead, it builds an additional layer of security on top of existing Bitcoin addresses by combining off-chain and on-chain methods. This approach avoids modifying the Bitcoin protocol itself while also reducing resistance to promoting PQC technology at the current stage.

According to data released by the project party, as of January 17, 2025, there are over 6.26 million Bitcoins globally facing potential quantum hacking risks, valued at over $648 billion. These Bitcoins may become "high-risk assets for quantum attacks" due to reasons such as long-term static storage, high risk of private key exposure, or loss of mnemonic phrases. The technical path of yellowpages is precisely aimed at these existing risks, attempting to build a more long-term effective ownership protection system.

It is worth noting that Project Eleven is not aimed at creating a new blockchain, but rather providing a set of pluggable, security-neutral technological components. Currently, the project prioritizes adaptation to the Bitcoin ecosystem and may expand to other blockchain protocols in the future.

The team's background and strength are solid.

Project Eleven brings together core talents from multiple fields, particularly with rich experience in encryption infrastructure and privacy computing:

• Alex Pruden: CEO of Project Eleven since April 2025. He was the president of an anonymous privacy chain project and has a background in encryption from Stanford University. Alex believes that Project Eleven is "one of the few projects in the current Web3 space that genuinely attempts to prevent systemic risks" and emphasizes that "mainstream protocols are still not prepared for quantum defense."

• Finn Murphy: Joined in October 2024 as one of the co-founders. He has worked in data privacy startups and decentralized data exchange networks, with a long-standing focus on data sovereignty and foundational protocol development.

• Conor Deegan: Currently the Vice President of Engineering at Project Eleven, responsible for the overall integration and deployment path of PQC technology. He was a co-founder and CTO of a decentralized data exchange network.

• Leeor Mushin: Co-founder of a venture capital firm, joined the project's co-founding team starting January 2025, providing financing and strategic support in the early stages of the project.

Financing situation is eye-catching

On June 19, 2025, Project Eleven announced the completion of a $6 million early round of financing. This round of funding was led by investment institutions focused on the Web3 space and quantum technology investment firms, with participation from several well-known public blockchain venture capital firms and early Web3 venture capital institutions.

The lineup of individual investors participating in the investment is equally strong, including founders of blockchain infrastructure companies, engineering leads of large cryptocurrency trading platforms, prominent evangelists of well-known public chain ecosystems, and active promoters in the field of zero-knowledge proofs.

Latest Project Updates

By June 2025, Project Eleven's first product "Yellowpages" has completed prototype development and has entered the protocol validation and early baseline testing phase. The team is testing the encryption binding logic and registration verification process, and security review work is ongoing, with audit results to be announced soon.

Currently, the project has not opened a public user entrance and has not conducted large-scale deployment on the Bitcoin mainnet. Project Eleven has not disclosed specific integration plans with wallet, exchange, or node service providers, nor has it announced information related to community governance, incentive programs, or token issuance.