Friday, March 1, 2024

University Of Zurich And Cardano Partner For Blockchain Research

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University of Zurich and Cardano Foundation partnered for blockchain research but also research various consensus mechanisms so let’s find out more in today’s latest Cardano ADA news.

the University of Zurich and Cardano Foundation announced a three-year-long collaboration to bolster blockchain research and education. The organization’s research topics will include protocol efficiency and Ouroborus attack vectors. The first provably secure PoS protocol Ouroborus is the name of the consensus mechansim. The PoS is a consensus mechansim whcih requires users to stake their crypto for permission to create a block and to incentivize network honesty. Cardano representatives marketed this mechansim as superior compared to the PoW networks like Bitcoin.

Cardano's ouroboros, paper, cited

PoW requires users to spend energy rather than cryptocurrency to produce a block which raises environmental concerns among politicians. However, the Cardano developers are well known for being careful when building the protocol. The original Ouroboros protocol was created based on research papers and its advancement returns to academia with the latest collaboration. The CEO of the foundation Fredrik Gregaard said:

“As blockchain moves from the margins to the mainstream, considerably more academic research is required to enhance understanding and, ultimately, bring about adoption. This is why we have even specifically called out education as a core goal of the foundation for the year ahead.”

The Foundation will work with the university’s Blockchain and Distributed Ledger Technologies while Gregaard explained that the research will help to develop Cardano and to expand the institution’s knowledge about the network. In the meantime, Dr. Claudio Tessone at the University of Zurich said that the research will be invaluable to the creation of other research questions and methodologies. His organization’s goal is to link the micro-behavior to the global properties of blockchain-based systems.

University of Zurich

Education about blockchain is growing in demand in the industry and the governemnt. For example, the US Governemnt Accountability Office suggested that last month the institutions provide regulators and policymakers with educational resources about blockcahin and this will only stir up more research into the alternative blockchain applications. In November we saw NYC Mayor Eric Adams proposing that schools should start teaching children about blockchain and crypto. The current SEC chair, on the other hand, Gary Gensler, taught a course at MIT About blockchains before assuming his role as chairman of the securities and exchange commission.

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