Securing digital assets for the post-quantum era
Joined November 2024
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Project Eleven Launches Strongpoint for Post-Quantum Custody with Zcash Foundation as Initial Development Partner
Zcash Foundation joins Project Eleven to shape institutional custody infrastructure for the post-quantum and AI era as more than $1 trillion in digital assets remain at risk of attack by sufficiently powerful quantum computers.
Project Eleven, the post-quantum security company for digital assets, today introduced Strongpoint, its flagship custody platform built for navigating the transition to post-quantum cryptography. @ZcashFoundation joins Project Eleven as an initial development partner, helping shape Strongpoint’s institutional custody architecture.
Strongpoint is designed to give institutions a consistent control layer for securing and managing digital assets as networks change the cryptographic standards underneath them. Rather than rebuilding key-management, transaction approval, and audit infrastructure for each new signature scheme or network migration, institutions can maintain a common set of security controls while the underlying cryptography evolves.
“Institutional digital asset custody was built for a world where the cryptography underneath it rarely changed,” said Alex Pruden, CEO of Project Eleven. “Quantum computing is upending that model. If every network adopts a different solution, institutions could be forced to rebuild their security infrastructure again and again. Strongpoint is built around crypto-agility, so the cryptography can change without the infrastructure changing with it.”
“Institutions holding shielded ZEC need custody infrastructure that respects Zcash’s privacy model today and can adapt as cryptographic standards change,” said Alex Bornstein, Executive Director of Zcash Foundation. “Project Eleven is building Strongpoint with the crypto-agility and technical foundation needed to support those requirements over time, helping strengthen custody infrastructure for the broader ecosystem.”
Zcash Foundation Joins as an Initial Development Partner
Zcash Foundation joins as an initial development partner for Strongpoint, bringing its expertise in privacy-preserving cryptography and protocol engineering to Strongpoint’s institutional custody architecture. Zcash’s privacy-preserving design introduces sophisticated key-management and transaction requirements, making it a valuable environment for developing custody infrastructure capable of supporting evolving cryptographic standards.
The collaboration will help inform how Strongpoint handles network-specific requirements while maintaining a consistent institutional control framework across assets and cryptographic schemes.
Post-Quantum Migrations Are Taking Different Paths
The digital asset industry’s post-quantum transition is becoming a coordination challenge. Among the networks represented by the 20 largest assets in CoinGecko’s Layer 1 (L1) category by market capitalization, Project Eleven found that only 10 have published a network-specific technical proposal, roadmap or implementation path for migrating transaction or account authentication to post-quantum cryptography.
Those approaches span at least six proposed post-quantum signature schemes and vary significantly in how they address account migration, key rotation and legacy-asset recovery. Even where technical roadmaps exist, operational readiness remains uneven, leaving institutions to navigate different standards and requirements across networks.
For institutions operating across multiple networks, that fragmentation means accommodating different cryptographic standards and migration requirements without losing a consistent security model. Strongpoint is designed to provide that common operating layer while allowing the cryptography beneath it to change independently.
Early Access and Deployment
Project Eleven targets production deployment in Q4 2026 and is working with a limited group of development partners ahead of general availability. Additional development partners and supported networks will be announced. Institutions interested in early access can request more information at projecteleven.com/strongpoin….
Founded in 2024 by Alex Pruden and Conor Deegan, Project Eleven raised a $20 million Series A led by Castle Island Ventures in January 2026, bringing its total funding to $26 million. The company recently acquired Riva Labs, a specialized engineering firm with deep expertise in post-quantum signatures, wallet infrastructure and blockchain cryptography, expanding Project Eleven’s in-house research and protocol-engineering capabilities.
Methodology: Project Eleven reviewed the 20 largest assets in CoinGecko’s Layer 1 (L1) category by market capitalization on September 25, 2026. A network was counted only where an official network organization, foundation, core development team or recognized protocol-improvement process had published a network-specific technical proposal, roadmap or implementation path for migrating transaction or account authentication to post-quantum cryptography. General research programs, statements of intent and post-quantum work that did not specify such a migration path were not counted. Draft technical proposals were included and do not imply network approval or adoption.
Project Eleven's cutting-edge research, now all in one place.
• PQC signature explorers
• Technical guides and research papers
• New cryptographic signature schemes
• Bitcoin and Ethereum Risq Lists
...and much more coming soon.
Check it out: research.projecteleven.com
Project Eleven retweeted
We've spent years preparing cryptography for quantum computers. Now we also have increasingly capable AI making crazy progress on mathematical problems.
These are different threats, but for digital signatures they lead to the same answer: hash-based cryptography.
We can build signatures without relying on additional structured mathematical hardness assumptions, like those used in lattice-based cryptography or elliptic curves.
We have good reasons to trust lattice schemes like ML-DSA today. They have nice properties with real advantages, and there are plenty of situations where it makes sense to use them. But where we can get the properties we need from hashes, there's no reason to introduce additional mathematical assumptions.
We've been working on hash-based cryptography at Project Eleven since well before the recent advances in AI, originally because of the quantum threat.
For key establishment, we don't have the same choice. We still need hard mathematical problems, which is why hybrid constructions and crypto-agility remain critically important
Excited for the Live Q&A where institutions will put their questions directly to the researchers shaping the protocol (it's @conordeegan)!
2/ The protocol
Institutions are making infrastructure decisions that will last decades. They need to know where Ethereum is heading.
→ Post-Quantum Ethereum: how Ethereum will protect the assets institutions hold onchain, well before quantum computers arrive
→ The Ethereum Roadmap: what faster settlement and more capacity through 2030 mean for institutions
→ Live Q&A: institutions put their questions directly to the researchers shaping the protocol
With @drakefjustin, @adietrichs, @kubimensah, @conordeegan and @benchodroff, from @ethereumfndn, @ethlabs_org, @gattacahq and @projecteleven.
The Hong Kong Monetary Authority just published a new PQC transition toolkit for banks.
One finding stands out:
Hong Kong's banking sector scored just 2.3/10 on quantum preparedness.
Their target is now 10/10 by 2030.
Let's get to work!
Project Eleven retweeted
Ethereum is accelerating its post-quantum roadmap, now targeting a full transition by the end of 2028. This is a significant change from the previous timeline.
The technical direction:
1. Execution layer: Replace ECDSA with hash-based signatures, leanSPHINCS.
2. Consensus layer: Replace BLS signatures with hash-based leanXMSS.
3. Data layer: Replace KZG commitments with a post-quantum alternative, leanDA.
The common theme is hash-based cryptography, with SHA-3 as the current default hash function. It’s a conservative choice with well-understood security assumptions and good security margins, but comes with significantly larger signatures and proofs. leanVM is intended to make this practical through proof aggregation.
There's also the question of existing ETH.
Our analysis at Project Eleven found that roughly 72% of the ETH supply is associated with accounts that have already exposed their public keys. These funds would be vulnerable to a sufficiently powerful quantum computer capable of recovering private keys.
You can explore the exposure here: ethereum-risq-list.projectel…
Moving ETH to a fresh address whose public key hasn't been exposed provides some protection, but it's not a long-term solution. Once that account broadcasts a transaction, its public key is exposed again. With estimates of quantum attacks potentially taking seconds or less, relying on a short mempool window is increasingly difficult to justify.
Ultimately, all ETH needs a path to quantum-resistant authorization, not just the 72% already exposed. This doesn't necessarily require waiting until 2028. Hash-based signature verifiers can already be deployed on-chain, albeit with significantly higher costs than native protocol support.
The cryptography is only part of the problem. Ethereum needs to ship the protocol changes, get wallets and infrastructure to support them, and make migration practical for everyone.
2028 is an ambitious target, but it's great to see the urgency.
Project Eleven's Ethereum Risq List spotted at Devcon during @kevaundray and @drakefjustin's presentation 👀
Check your ETH exposure today: ethereum-risq-list.projectel…
The Bitcoin Risq List has a new friend:
The Ethereum Risq List.
Over 72% of ETH sits in addresses with exposed public keys vulnerable to a quantum attack.
Is your ETH at risq?
ethereum-risq-list.projectel…
Bitcoin Whitepaper Day
Halloween
and...
Project Eleven’s Birthday?!
Learn about the significance of this historic day with our co-founders @apruden08 and @conordeegan
Project Eleven retweeted
Our hero at p11 & long time schemer @conordeegan leading the charge alongside @drakefjustin, @zooko and many other brilliant folks to prepare for an internet with very different rules to the one we’ve know these past 30 years.
The end of history in cryptography is over.
ft. @conordeegan 👀
Anything that can be hacked will be hacked.
AI and quantum will make sure of it.
Security Over Everything.
How do you build on post-quantum Ethereum?
Project Eleven’s @matteVicari and @alebaiocchi23 are leading a hands-on workshop at Devcon, walking developers through leanSPHINCS and how to use it.
Excited for this one!
The Bitcoin Risq List has a new friend:
The Ethereum Risq List.
Over 72% of ETH sits in addresses with exposed public keys vulnerable to a quantum attack.
Is your ETH at risq?
ethereum-risq-list.projectel…
Just some of the crypto hacks in 2026. We need to rethink how we do security.
USDGambit and TLP - $1.5M
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IPOR Fusion - $336K
Truebit - $26.4M
FutureSwap - $395K
YO Protocol - $3.6M
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Makina - $4.2M
Saga - $7M
Aperture LM - $3.67M
Matcha - $13.43M
Step Finance - $40M
CrossCurve - $3M
Moonwell Lending - $1.78M
Velar Perps - $401K
IoTeX - $4.4M
Blend Pools V2 - $10.97M
DGLD - $250K
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SquidMulticall - $517K
Aethir - $400K
Hyperbridge - $2.5M
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CoW Swap - $1.2M
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Giddy - $1.3M
Purrlend - $1.5M
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Wasabi Perps - $5.5M
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Ekubo - $1.4M
TrustedVolumes - $6.7M
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Aurellion - $456,442
SQ Protocol - $346,137
Transit Finance - $1.88M
THORChain DEX - $10.7M
Adshares - $628K
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RetoSwap - $2.7M
Polymarket - $700K
StablR - $2.8M
New Market Trading - $3.98M
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AROS - $295K
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TesseraDAO - $2.4M
TSR - $2.5M
Syscoin Bridge - $10M
Humanity - $32M
Flooring Protocol - $500K
Token of Power - $1.58M
Raydium AMM - $1.34M
Axelar Secret IBC Bridge - $4.67M
Aztec Connect - $2.1M
RetoSwap - $2.7M
Little Boy Plus - $367K
Aztec Bridge - $2M
Secret Network - $4.67M
mySwap CL - $305K
Namada Shielded Pools - $600K
LABUBU/OLPC - $1.1M
JaredFromSubway MEV Bot - $7.5M
Taiko Bridge - $1.7M
Royal . io - $263K
SecondFi - $2.4M
Polymarket - $3M
Edel - $403K
Hinkal - $820K
Lazy Summer Protocol - $6.04M
BonkDAO - $20M
Bonzo Lend - $9.05M
BlueMove DEX - $529K
Lumi Finance - $270K
BarnBridge - $776K
TeleSwap - $735K
Ostium - $23.75M
Sonic ICP - $276K
Cascade Liquidity Strategy - $1.34M
DefiTuna Lending - $580K
Across - $4.5M
Allbridge Core - $1.65M
42DAO - $912K
Wanchain - $10M
Verus-Ethereum Bridge - $7.53M
AFX Bridge - $24.15M
Zilliqa - $1.64M
Solido Cash - $900K
Lien - $542K
Triple-A - $9.7M
Bankr - $479,885
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Garden - $450K
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ChainConnect - $650K
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Swan Treasury - $625K
COLDCARD - $116M
MOKE - $907K
LOOPSDAO - $693.5K
RISEx - $673,012
KITE Foundation - $13.34M
RRWallet - $2M
Oraichain - $1M
Coinsbuy - $7.9M
Harmony Bridge - $3.2M
Maya Protocol - $1.7M
BounceBit - $3M
TAC - $7.5M
The Sandbox - $675K
KiiChain - $9.7M
TermFinance Vaults - $8.5M
Nesa - $50M
CometDEX - $717K
Moonwell Lending - $8.7M
Ajna V2 - $775.4K
Virtue - $894.5K
Avici - $500,859
Fogo Foundation - $3M
Tectonic - $124.47M
Aquifer - $2,469,729
Ankr - $410K
Radix - $1,249,946
Notional V2 - $1,727,782
Rocket Perp - $287,666
Liquid Network - $320M
Balancer V1 - $250K
Nomic - $3.15M
Symbiosis - $336K
Chainflip AMM - $736,442.17
Flamincome - $595K
Nostra Money Market - $3.5M
Fetch . ai - $1.53M
NuNet - $462.73K
Drop - $4.4M
Astroport - $4.9M
Duelbits - $7M
Bitget - $387M
Limit Break Payment Processor - $1.8M
Payy Network - $1,828,589.38
Fake GIWA Bridge - $2.08M
FlashLoopAdapter - $305K
NEAR Intents - $3.8M
MakerDAO ETH-A Liquidation Keeper Bot - $538K
Ledger (Supply Chain) - $93M
Papertrade - $1.28M
Gamdom - $4.208M
Affluent - $1.053M
Qubic - $1.3M
CoinDCX - $16M
Initia - $2.6M
X100 - $4.75M
Bloom Trading Bot - $953K
Fence Finance - $1.01M
Predict Fun - $400K
zkLink Nova - $783.1K
Polymarket - $2.7M
Binance - $6.36B
Project Eleven retweeted
Very interesting PQTS call today. I had the opportunity to present two parameter sets we have been working on at @projecteleven as candidates for leanSPHINCS.
I believe it's very important to choose parameters and scheme components that cover all the major use cases and user profiles, including MPCs and hardware signers.
At the same time, and especially under current circumstances, I believe we should avoid risky experimentations and make sure we rely on battle tested primitives with well understood tradeoffs.
BIG and unexpected news from Google.
Google is entering the crypto custody market with its own MPC solution.
Even more interesting: Google says the system is being designed to support post-quantum cryptography as blockchains upgrade.
This is worth paying attention to.
Every improvement in attacks on elliptic curves and the discrete logarithm problem challenges our assumptions about cryptographic security and reinforces the need for crypto-agility.
The world you grew up in no longer exists.
NEW CHALLENGE ALERT: CurveSmash curvesma.sh
How long until the math protecting your wallet breaks?
Bitcoin and Ethereum wallets and the padlock in your browser all rely on elliptic curves. Quantum computers will eventually break them. AI is already getting better at finding weak spots.
CurveSmash, with @aztecnetwork, opens that question to everyone. Point your agent at it and build on every attack that came before.
Cryptographers review each result before it counts.
Project Eleven retweeted
Crypto agility matters because no one can prove today’s post-quantum schemes will hold forever. If one fails, systems need a way to switch without starting over.
“All our eggs are kind of in one basket there. We don’t have another solution if that goes wrong.”
@conordeegan of @projecteleven on why the post-quantum transition needs a backup plan.
Project Eleven retweeted
Livestream TODAY w/ Alex Pruden, founder & CEO of @projecteleven.
WILL QUANTUM NUKE OUR BAGS?
How real is the quantum threat to Bitcoin? How much time do we have? And can crypto upgrade before it’s too late?
Questions will be answered. Tap in.
When: 2PM ET
Where: @heybeluga
