Cryptocurrency Dash have this week announced that they are to fund a Blockchain Research Lab in partnership with the Ira A. Fulton College of Engineering at Arizona State University.
More Blockchain Research?
If it seems like every other week there is a news story about yet another tin-pot government, trying to work out how blockchain technologies can benefit them, then take heart. Dash are spending their cash on bringing some high-end research back into the educational sphere.
The new lab will look at the possibilities that blockchain and cryptocurrency can provide for the everyman. Whilst giving students hands on experience with blockchain, it will focus on how blockchain and cryptocurrencies can be improved. A number of topics have been outlined for initial research.
One subject which is particularly pertinent at the moment following the recent Bitcoin hard fork is scalability, and the lab will be considering the viability of various long-term solutions for blockchain scaling.
The facility will also research methods to lessen the environmental impact of mining. This could include identifying or minimizing the level of hash rate required to ensure the security of the network.
Another topic to be investigated is the best way to avoid cryptocurrency mining becoming more centralized. After all, if we are pushing for decentralization then this is surely one of the key aspects we are trying to avoid.
So where did Dash get this cash?
The Dash network has a rather unique model whereby block rewards are divided between a number of beneficiaries. 45% go to miners, 45% to so-called master nodes, and 10% go towards a network development budget.
Obviously Dash will be using the output of the research lab to improve their own network, and who can blame them. The results will also be available for any other cryptocurrency to incorporate as they see fit.
Dash fund a bug bounty program through the same network development scheme. They certainly seem to be one of the more proactive players in the field of self-improvement.
Looks like even more cash coming their way
The DASH price surged to a record high following the announcement, meaning more budget for future network development.
One hopes that combined with their ASU collaboration, this can only lead to a better future network.
Will this new initiative help grow the Dash network? Let us know below!
Images courtesy of Shutterstock