IOTA Wants to Streamline Coordicide Implementation by Offering $5 Mln in Grants for Research Purposes

News
Thu, 07/25/2019 - 18:40
Alex Dovbnya
Soon, more details about all research topics will be published on the Coordicide website 
Cover image via U.Today
Contents

IOTA has just announced a $5 mln grant program that is supposed to speed up the advent of Coordicide. The development of the protocol remains a top priority for the German-based crypto startup. 

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Moving towards complete decentralization

As reported by U.Today, IOTA released the Coordicide protocol upgrade on May 28 in order to “kill” the Coordinator, which was utilized to secure the network despite the centralization and scalability problems.

Back then, it was revealed that Coordicide would be implemented in Q1 2020, but it now seems like IOTA is going to streamline the process with the help of its recent initiative.

IOTA is currently looking for the members of numerous research organizations beyond its core team to contribute to the project. The proposed researched topics are ranging from spam prevention to timestamping of transactions.

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A $1 mln grant is possible   

All those who are willing to apply for funding have to submit proposals that feature the research topic and a preliminary budget. They are open to both large and small ideas, so there is a chance to get a grant that will exceed $1 mln.

This is not the first time that IOTA awards talented developers with some greenbacks. Earlier, the company teamed up with Hackster.io to organize the Smart City contest.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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