The crypto industry is discussing a high-profile precedent as researcher Giancarlo Lelli received a reward of 1 BTC from Project Eleven for successfully cracking a 15-bit ECC key on a quantum computer. While some see this as the beginning of the end for classical encryption, Adam Back has led the camp of skeptics, stating that behind the loud headline lies ordinary statistics.

Lelli used a cloud-based quantum computer and a modified Shor's algorithm to derive the key. Project Eleven h