Crypto.com, which is known for its industry-standard security features, announced on Thursday that it will donate an undisclosed amount to the University of Pennsylvania’s Crypto Research Lab in order to help researchers better understand security and privacy in the digital age. This agreement was signed by the cryptocurrency exchange to fund blockchain research for the next two years.
Contributions to UPenn’s new Crypto Research Laboratory Fund will be used to perform studies on how cryptography and programming may prevent developing security and privacy vulnerabilities in real-world blockchain initiatives, according to the official blog post.
Eric Anziani, Crypto.com COO, commented:
“The University of Pennsylvania’s crypto lab’s focus will be extremely useful for wider, real-world blockchain applications, as well as novel techniques to improve privacy and security. We are ecstatic to contribute to the establishment of this blockchain research lab within such a prestigious academic programme.”
Furthermore, with this two-year research grant, UPenn will establish a new research centre in the School of Engineering and Applied Sciences, according to the statement. The study will concentrate on increasing openness and confidence for crypto-related businesses in terms of privacy and security.
Crypto.com’s Blockchain Security plans
It’s worth noting that this isn’t the first time Crypto.com has funded academic blockchain research endeavours.
The cryptocurrency exchange announced a four-year research grant to the Massachusetts Institute of Technology’s Digital Currency Initiative last month. And that research initiative will look into ways to make Bitcoin more secure and usable.
In March, the crypto business also financed the formation of the Secure Blockchain Initiative, which is led by Carnegie Mellon University. The goal of this project is to focus on strengthening blockchain security and spreading a better understanding of digital ecosystems.
Not only that, but in the same month, Crypto.com was elected to the Singapore Blockchain Association. It joins the ranks of major corporations such as Visa, Algoran, Ledger, Tezos, and PWC in supporting the widespread adoption of blockchain technology.
What do you think about crypto.com’s security plans?
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