IOHK established a new Cardano research center at the University of Wyoming after receiving a donation of $500,000 in the ADA cryptocurrency as per the latest Cardano news.
The Cardano blockchain’s leading development firm announced back on Friday that the IOHK established a new research and authentication center will create part of UW’s blockchain research and development lab which will promote the company’s academic approach to further blockchain engineering and development. The center will feature the new Plutus development facility which provides the blockchain developers with a new laboratory for writing code in Cardano’s smart contract language along with new tools and resources that will experiment with new solutions.
There will also be a new design studio for a new hardware tool that can provide authentication applications along with anti-counterfeiting applications for Cardano. IOHK CEO Charles Hoskins explained:
“This is a very applied laboratory, where instead of doing peer theory, we’re actually building real-life things and writing real software that will enter production very quickly.’’
Hoskinson attended a ceremony that marked the opening of the research lab at UW’s main campus in Laramie back on Friday. The butterfly logo of IOHK will be added to the research lab and can be found at the center for IOHK’s future work with the traceability platform of BeefChain. As part of the collaboration, IOHK provided a $500,000 donation to ADA in order to fund the research and development into the new blockchain applications including new tools for traceability and supply chain management.
Wyoming is expected to match the dollar value of the grant which means that UW will get $1 million worth of initial funding for the new blockchain facility according to the university spokesperson. The university will also contribute more funds as per the UW acting president Neal Theobald:
“The University of Wyoming is proud to be at the forefront of blockchain research and education, and we are grateful for this significant financial contribution from IOHK. This support will help us continue to move forward in a very exciting and promising field of innovation and discovery.”
Wyoming is a very attractive destination for the US-based crypto companies that want to take the crypto-friendly legislation of the state that formally recognized digital assets and provides financial services to companies:
“Our hope is to have a very substantial presence in Wyoming and write a lot of very good software there.’’
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