Academics At Columbia University Awarded $400,000 From Qtum For Blockchain Research
Academics At Columbia University Awarded $400k From Qtum For Smart Contracts R&D
Academics at the Columbia University were awarded $400,000 from the blockchain project Qutm. The main intention is to develop a new programming language for Ethereum (ETH). The information was released on December 19 in an email to Cointelegraph.
The new language that will be developed is named ‘DeepSEA’ and it will allow tackling some of the current challenges posed by mainstream operating systems.
Operating systems and hypervisors are mostly written in C-like low-level languages. This is a problem that creates conflicts between high-level formal reasoning and low-level systems. This means that the first reasoning must deal with a high abstraction level but the second systems have to manipulate low-level effects and hardware resources.
The grant will be used by a team of two PhD and other postdoctoral students that are headed by Ronghui Gu. These researchers will design an implement this new language and develop other tools for it. With these developments, smart contracts could become more reliable, dependable and adoptable.
Professor Gu has co-founded the blockchain startup CertiK. CertiK has received an important investment from the Qtum Foundation. The project aims to mathematically prove that smart contracts and blockchain ecosystems have no bugs and are resistant to different attacks. Several ICOs that developed their own platforms have been affected by bad-written smart contracts.
Qtum focuses on smart contracts and other decentralized applications (dApps). The technology combines different technologies from top virtual currencies and blockchain networks.
Earlier this year, Columbia University and IBM announced an accelerator program to help blockchain startups in the space.
Qtum is currently the 28th largest cryptocurrency in the market with $209 million market cap. Each Qtum coin can be purchased for $2.35.