According to the University of Princeton, the researcher has received around $400,000 in the applications of Bitcoin. And federal funding to study mechanism enticement.
Seth Weinberg, an assistant professor of computer science at Princeton. “Duality-based tools for simple vs. optimal mechanism design and applications to cryptocurrency”. A project which was led by Weinberg. Furthermore, the worth $450,000 was awarded on 28th June by NSF (National Science Foundation). According to the NSF, the project begins in September and goes on until August 31, 2020.
The website of organization explains:
“A secondary focus of this project is to apply these theoretical foundations to resolve cryptocurrency incentive issues arising within Bitcoin, an emerging cryptocurrency. While Bitcoin has remained largely immune to traditional security breaches, numerous incentive issues have been discovered which could undermine its future security if not properly addressed.”
Although, Cryptocurrencies constitute a part of a research study thmain is focused on the design of algorithm mechanism. And the theoretical incentives at play. Moreover, it is the latest project instances that involve a tech receiving federal backing.
The NSF awarded $3m to the initiative for Cryptocurrency and Contracts (IC3). According to a University of Maryland and the University of California Berkeley, a research effort involves academics from Cornell. The NSF also stepped back to cybersecurity-related research that involves blockchain.