Thursday, April 18, 2024
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CryptoCom backs MIT to boost Bitcoin security

As part of a four-year contribution to MIT, CryptoCom announced plans to support the MIT Digital Currency Initiative for independent, academic studies on crypto and blockchain.

The gift from the exchange aims to promote Bitcoin security research as well as the open-source development of network protocols by MIT’s Media Lab’s Digital Currency Initiative (DCI). The funding will also aid DCI’s research work in the areas of fee-based incentive stability and software that provides “high robustness and correctness guaranteed.”

According to the research team, high security standards are one of the top criteria for purchasing crypto products from Brazil to Australia, according to the team’s research. He also stated that DCI’s data focuses on the security of one of the world’s most commonly used coins, a goal that the exchange is committed to.

Apart from MIT, CryptoCom has been sponsoring similar blockchain-related activities with big firms and universities all around the world.

The Secure Blockchain Initiative at Carnegie Mellon University is one such example. CryptoCom also joined the Blockchain Association of Singapore earlier this month. With this, the platform joins a long list of notable entities, including Visa, PWC, Ledger, Algorand, and Tezos, who are all working to promote “responsible” blockchain and Web 3 efforts.

CryptoCom has also made a name for itself in the sports industry. It recently expanded its offering by adding the World Cup. The trading platform, as previously reported, has signed a sponsorship agreement with FIFA for the FIFA World Cup Qatar 2022.

Read more: Fnatic and Cryptocom announce blockchain based membership project

Kunal Krishan
Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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