The Crypto.com (CRO) cryptocurrency exchange platform has announced that it will financially support an MIT study on the Bitcoin (BTC) network. The latter will aim in particular to analyze the long-term economic resilience of Bitcoin and to explore new tools to secure the network.
Crypto.com funds research
The Crypto.com exchange platform , based in Singapore, has announced that it will contribute financially to research on cryptocurrencies at the MIT Media Lab , a renowned laboratory at the Massachusetts Institute of Technology (MIT) specializing in the study of multimedia and technologies.
The amount of the grant has not been disclosed, but we do know that it will be spread over 4 years to support the MIT study called “ Bitcoin Security Initiative ”. The analysis will focus in particular on the security of the Bitcoin (BTC) network as well as the open source development of the protocols that underpin the network .
Eric Anziania , Chief Operating Officer of Crypto.com, said of this:
“We are thrilled to further support blockchain research around the world with such an esteemed institution and help accelerate the world’s secure transition to using cryptocurrencies. »
This is not an isolated initiative for Crypto.com, which was also one of the “ Platinum Sponsors ” of the MIT FinTech Conference which took place from February 24 to 26. This event brought together students and important personalities from the cryptocurrency ecosystem to discuss, in particular, the revolution brought about by Web 3.0 .
In addition, Crypto.com is a member of the Blockchain Association of Singapore (BAS), where it collaborates with, among others, Ledger, Visa, Algorand (ALGO) and Tezos (XTZ) to perfect blockchain technology and promote the development of the latter in Singapore.
Up to $50 offered with the code CRYPTOAST
The study in detail
The MIT Media Lab study will be spread over 4 years and aims to bring together players from the ecosystem (we will note the presence of Jack Dorsey), developers and researchers in order to study in particular the risks associated with the use decentralized protocols both from a security and a financial point of view.
“Bitcoin’s security 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 transmitted is critical to enhancing security and improving resilience. »
The analysis will also include, among other things, studying the economic resilience of Bitcoin in the long term , especially in the face of inflation, as well as looking for new automation tools and exploring new programming languages.
Recall that Crypto.com has its own “ Research & Insights ” research team which employs university researchers to publish its monthly report which brings together analyzes of the cryptocurrency market as a whole and the security of digital assets .
The price of Crypto.com’s native token, CRO, is currently $0.40 . It ranks 19th in the cryptocurrency rankings with over $10 billion in market capitalization .