3 US Universities to Conduct Government-Funded Cryptocurrency Research
The University of Maryland, Cornell, and the University of California Berkeley will be conducting cryptocurrency research backed by $3 million in funding from the National Science Foundation, a US government agency that supports and funds scientific research. According to principal investigator Elaine Shi, the universities will be focused on developing new cryptocurrency systems that can address "pain points" in bitcoin and other digital currency networks. Cryptocurrency Research Scope. This wide-ranging research, which is entitled The Initiative for Cryptocurrency and Contracts (IC3),....
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Those of us who have been closely following the happenings in bitcoin and cryptocurrency industry have heard about National Science Foundation's recent grant to three top universities in the United States for research on cryptocurrencies. University of Maryland is one of the recipients of the total $3 million research grant along with Cornell University and University of California- Berkeley. A lot of us haven't had a chance to know what kind of research these universities will be doing on bitcoin to receive a small fortune. Here is an insight to what the researchers at University of....
In a March 2014 Semiannual Report to Congress prepared by the National Science Foundation's [NSF] Office of the Inspector General [OIG], the organization outlines an incident in which a researcher used NSF-funded supercomputers to mine bitcoin. According to report details, the researcher/professor used supercomputing resources at two universities here in the United States to generate bitcoins valued between $8,000 and $10,000. The National Science Foundation pegs the computer misuse costs at a whopping $150,000. Said researcher said the he was running tests on both systems merely as a....
Three American universities are set to conduct wide-ranging research on cryptocurrencies using roughly $3m in grant funding from the National Science Foundation, a US government agency that supports and funds scientific research. Cornell, the University of Maryland and the University of California Berkeley will focus on developing new cryptocurrency systems that, according to principal investigator Elaine Shi, will address "pain points" attributed to bitcoin and other existing networks. The Initiative for Cryptocurrency and Contracts (IC3) will also involve Cornell researcher Emin Gun....
Matthew Hancock, the cabinet minister in Her Majesty's government has proposed the use of blockchain technology for disbursing research grants. Bitcoin’s underlying blockchain technology offers a transparent and secure way to store and retrieve information. Britain is looking forward to utilizing this feature to account for and track the expenditure of tax payer’s money given out in the form of research grants to universities and research institutions. Recently, the minister for Cabinet Office and paymaster general Matthew Hancock has reportedly brought up the possibility of using....
Editor’s Note: We would like to apologize for the factual inaccuracy of this article. The University of Maryland is not giving research grants; rather, they have received a grant from the National Science Foundation so they can study cryptocurrency. Update: This article has been modified to correct a number of reporting inaccuracies that appeared in the original text. We have added an acknowledgement to research teams at Cornell and UC Berkley, who are working as collaborators on this project with the University of Maryland. Additionally, we have added an acknowledgement to Elaine Shi, who....