Quantum Security Startup Project Eleven Acquires Riva Labs to Add Post-Quantum Wallet Tech
- —Riva Labs focuses on hash-based signatures, MPC and hardware signing for Ethereum and other public chains
- —Riva recently demonstrated post-quantum signing on consumer hardware
- —The deal includes Riva's intellectual property; financial terms were not disclosed
- —Project Eleven raised $20 million in a Series A round in January
Why it matters: Quantum computers could in theory break the signature schemes securing Bitcoin and Ethereum wallets, and consolidating specialist teams speeds up the industry's migration to quantum-resistant cryptography.
Source: Unchained