Cardano Input Output Announces the Opening of a Research Center at Stanford

The company behind one of the best proof-of-stake blockchains has invested $4.5 mln in a new lab. Input Output will provide funding for three years. Applications will begin next month and faculty, undergraduate and graduate students will be able to apply for financial assistance. The offer deadline is November 2022. The steering committee will include two representatives of Input Output.

Charles HOSKINSON told Coindesk that the new research center will allow blockchain development to progress at a faster pace. The brand name of a well-known university will also add much-desired prominence to the cryptocurrency sector. Input Output collaborates with many universities around the world. Back in 2017, it sponsored similar blockchain labs at Tokyo Institute of Technology and the University of Edinburgh.

In December, Input Output also announced a $500,000 donation to Stanford to fund research into Verifiable Digital Fountains, a scaling solution that can process high volume transactions with limited connectivity. The ambitious technology could allow a blockchain network to be launched with a simple mobile phone, meaning it could catch on in developing countries with low data availability.

Image: Coin-Ratgeber