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Aptos Labs Provides a $50,000 Grant for Blockchain Research in Higher Education

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Indrani bose Follow

INDIA

Feb, 10 2023

Feb, 10 2023

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According to a press release, Lorenzo Alvisi, a professor of computer science at Cornell University who specialises in blockchain and Web3 technology, has received a $50,000 grant from Aptos, the recently launched blockchain created by the team behind Facebook's axed diem cryptocurrency.


According to a CoinDesk ranking, the institution will use the funding to fund research into a method for scaling the performance of blockchains by creating a secure, decentralised log on top of a Byzantine-tolerant database. The university is the second-best in the US for blockchain. A thinly spread network of nodes, which can lead to a network attack like a 51% attack, is less risky with a database like this one.


“We are delighted to support the work of Professor Alvisi’s students as they not only research novel blockchain systems but also develop real-world, scalable use cases and applications to benefit the future of the industry," said Aptos Labs Chief Technology Officer and co-founder Avery Ching.


Dr. Dan Boneh, a computer science professor at Stanford University, has also joined the company as an adviser, according to the company. Stanford came in third in the country; the University of California-Berkeley took first place.


The Cardano grant, which provided $4.5 million for a research hub at Edinburgh University in November, served as a model for Aptos' funding.


One of the highest performing digital assets in January was the aptos token (APT), which soared from a low of $3.52 to a high of $20.32 after being airdropped to early users in October. Data from CoinDesk shows that it is presently trading at $16.36. Overall mood is still good, although there have been questions about tokenomics and the network's lack of activity in comparison to layer 1 rivals like Ethereum.


Mo Shaikh, the CEO of Aptos, defended the project's token distribution in November, saying it is "far fairer" than those of its rivals. 


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Indrani bose

CBW - External Analyst

INDIA

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