MIT Gets Backing From Crypto.Com To Improve BTC Security

MIT gets backing from Crypto.com to improve its BTC security as the trading platform extends its support for the research on crypto and blockchain so let’s read more today in our latest blockchain news.

Crypto.com announced more plans to support the MIT digital currency intuitive for academic, independent research for crypto and blockchain as a part of its commitment to a four-year gift to the latter as MIT Gets backing from the exchange. The exchange’s goal is to support the research in BTC security and back the open-source development of the protocols that form the foundation of a network by the MIT Media Labs’ Digital Currency Initiative.

According to the official press release, the donation is designed to help DCI continue the research efforts with regard to the stability of the fee-based rewards and the software to offer stronger robustness and the correctness guarantees. The Chief Operating Officer at crytpo.com Eric Anziani commented:

“MIT’s Digital Currency Initiative is playing a critical role in building a sustainable blockchain ecosystem, in particular by fortifying Bitcoin’s underlying protocol. We are excited to further support blockchain research across the globe with such an esteemed institution and help accelerate the world’s safe transition to using cryptocurrencies.”

The head of research at Crypto.com Henry Hon asserted that the research conducted by the team depicted the high-security standards as one of the top criteria for choosing crypto products from Australia and Brazil. He also added that the DCI data focuses on security as one of the most widely adopted coins on the planet whcih is a goal that the exchange has been striving to achieve. Besides MIT, Crypto.com was supporting similar initiatives with the global corporations across the world to enhance the blockchain technology.

One such is the secure Blockchain initiative at Carnegie Mellon University Crypto.com became a member of the Blockchain Association of Singapore and the platform joined the list of prominent players like PwC, Ledger, Algorand, Tezos, and Visa. Crypto.com was making waves in the sporting sector and added World Cup to the growing portfolio and the trading platform entered a sponsorship deal with FIFA for the World cup in 2022.

As recently reported, The Bank of England announced on Friday that it reached an agreement with the Massachusetts Institute of Technology Media Lab Digital Currency Initiative or DCI on a joint project for CBDCs. The bank said that the new proejct was for research purposes and not intended to develop an operational CBDC.