Project Eleven acquires Riva Labs to add post-quantum wallet technology
Image: UnchainedProject Eleven has acquired Riva Labs, a cryptography engineering team that builds post-quantum wallets and signing tools. Financial terms were not disclosed. Riva Labs focuses on hash-based signatures applied to software wallets, hardware signers and multi-party computation on Ethereum and other public chains. Project Eleven said the deal includes Riva's intellectual property. Project Eleven has worked with the Solana Foundation and Ripple on quantum-readiness efforts. Most blockchains, including Bitcoin and Ethereum, rely on signature schemes developers consider vulnerable to large quantum computers.
Key points
- Project Eleven acquired Riva Labs, a team building post-quantum wallets and signing tools.
- Financial terms of the acquisition were not disclosed.
- Riva Labs works on post-quantum signatures, multi-party computation and blockchain wallet infrastructure.
- Project Eleven has collaborated with the Solana Foundation and Ripple on quantum-readiness work.
- Bitcoin and Ethereum rely on signature schemes that a large quantum computer could in theory break.
Why it matters
Most blockchains, including Bitcoin and Ethereum, secure wallets with signature schemes developers are weighing quantum-resistant upgrades for. The acquisition adds post-quantum wallet and signing work to a firm already running quantum-resistance tests with the Solana Foundation and Ripple.
What's unclear
Financial terms of the acquisition were not disclosed.
Price context · ETH
At publication
$2,665.41
Now
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Change since
−10.03%
7 days
Sources · 2 publishers
Crypto Briefing
Tier 2
Project Eleven acquires Riva Labs to enhance post-quantum security for digital assets
Coverage timeline
- First reported by Unchained
- Also reported by Crypto Briefing
- CryptoVideos brief published
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