Crypto.com (CRO), the cryptocurrency exchange, has announced that it will fund an MIT study on the Bitcoin (BTC) network. The study will analyse the long-term economic resilience of Bitcoin and explore new tools for securing the network.
Crypto.com funds research
Singapore-based exchange Crypto.com has announced that it will contribute funding to cryptocurrency research at the MIT Media Lab, a renowned multimedia and technology lab at the Massachusetts Institute of Technology (MIT).
The amount of the grant was not disclosed, but we do know that it will be spread over 4 years to support MIT’s Bitcoin Security Initiative study. The analysis will include the security of the Bitcoin network (BTC) as well as the open source development of the protocols that underpin the network.
Eric Anziani, Chief Operating Officer of Crypto.com, said: “We are very excited about this initiative.
“We are delighted to further support blockchain research around the world with such an esteemed institution and to help accelerate the world’s secure transition to the use of cryptocurrencies. “
This is not an isolated initiative for Crypto.com, which was in fact one of the “Platinum Sponsors” of the MIT FinTech Conference, which took place from 24 to 26 February. This event brought together students and key figures from the cryptocurrency ecosystem to discuss the Web 3.0 revolution.
In addition, Crypto.com is a member of the Blockchain Association of Singapore (BAS), where it collaborates with Ledger, Visa, Algorand (ALGO) and Tezos (XTZ), among others, in order to perfect blockchain technology and promote its development in Singapore.
The study in detail
The MIT Media Lab’s study will last 4 years and aims to bring together players from the ecosystem (Jack Dorsey will be present), developers and researchers in order to study the risks linked to the use of decentralised protocols, whether from a security or financial point of view.
The security of Bitcoin relies on the accuracy and robustness of the software and hardware that run it, as well as the actions of those who participate in the network. […] Ensuring that critical knowledge, not only about the technology itself, but also about key processes, is systematically recorded and passed on is critical to enhancing security and improving resilience. “
The analysis will also include studying the long-term economic resilience of Bitcoin, especially in the face of inflation, as well as looking for new automation tools and exploring new programming languages.
As a reminder, Crypto.com has its own Research & Insights team that employs academic researchers to publish its monthly report that brings together analysis of the cryptocurrency market as a whole and the security of digital assets.
Crypto.com’s native token, CRO, is currently priced at $0.40. It ranks 19th in the cryptocurrency rankings with over $10 billion in market capitalization.
