Project Eleven is acquiring Riva Labs to accelerate the development of practical post-quantum security solutions for blockchains. The acquisition brings Riva Labs’ expertise in post-quantum signatures and demonstrated ability to run them on consumer hardware into Project Eleven’s existing work across signatures, wallets and protocol infrastructure, the company says.
“Riva Labs is exactly the kind of talent we want at Project Eleven: deeply technical and focused on turning cryptographic research into systems that can actually be deployed,” says Alex Pruden, CEO and Co-Founder of Project Eleven. This move reflects growing urgency as advances in artificial intelligence speed up both the development and potential breaking of existing cryptographic techniques.
Riva Labs Expands Project Eleven’s Post-Quantum Signature and MPC Expertise
Riva Labs’ recent demonstrations of post-quantum signing on consumer hardware add to Project Eleven’s capabilities. This capability signifies a shift toward systems that can operate on readily available devices, addressing a critical hurdle in widespread post-quantum adoption. Project Eleven, backed by $26 million in total funding, has prioritized building infrastructure for digital assets, and the integration of Riva’s work accelerates that goal. The company’s 2024 partnership with NIST to implement post-quantum cryptography standards for blockchains provides a foundation for this expansion, and its 2024 collaboration with the Ethereum Foundation focuses on a quantum-safe upgrade roadmap.
Project Eleven is bringing together expertise across each layer, signatures, wallets, key management and protocol infrastructure, required to make this transition practical. Riva Labs’ work in multi-party computation (MPC) and account abstraction complements Project Eleven’s existing portfolio, offering enhanced security and flexibility for blockchain applications.
The company’s open-source libqc and quantum-vault, Cure53-audited reference implementations launched in May, demonstrate a commitment to transparency and community involvement in the post-quantum transition, according to the company. The urgency driving this acquisition is directly linked to the accelerating pace of artificial intelligence in cryptographic research and cryptanalysis, shortening the timeline for needing post-quantum solutions.
AI’s ability to rapidly develop and break existing cryptographic techniques means the window of vulnerability is shrinking, demanding faster innovation in post-quantum defenses. According to the acquisition announcement, “AI accelerates cryptographic research and cryptanalysis, allowing new techniques to be developed, tested, and challenged at greater speed.”
Riva Labs is exactly the kind of talent we want at Project Eleven: deeply technical and focused on turning cryptographic research into systems that can actually be deployed.
Alex Pruden, CEO and Co-Founder of Project Eleven
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