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Algorand Brings $50M Blockchain Research and Education Program ‘ACE’

The ten winners of the Algorand Centres of Excellence (ACE) Program were announced by the Algorand Foundation, the carbon-negative Layer 1 blockchain created by MIT professor and Turing Award winner Silvio Micali. The grants total $50M over five years. An international team of 27 experts from various disciplines chose the winners from 77 proposals submitted by more than 550 participants from 46 countries. https://twitter.com/AlgoFoundation/status/1555213143147700226

Algorand Centres of Excellence

The Turing Award laureate and Massachusetts Institute of Technology Professor Silvio Micali’s carbon-negative blockchain, Algorand, was created as part of the ACE Program, an effort of the US-based Algorand Foundation. Dr. Hugo Krawczyk, the chief researcher at the Algorand Foundation and director of the ACE Program, said,

“Given the large number of top-notch proposals we received, the selection process was challenging.”

As one of ten winners of the Algorand Centres of Excellence (ACE) Program worldwide, researchers from Australia and the Pacific area, led by Monash University, will split US$50 million to advance blockchain technology, education, and innovation. The Turing Award-winning cryptographer Silvio Micali, an MIT professor, created the Algorand blockchain, which can deliver the promise of a borderless global economy. Since it went online in June 2019, it has achieved transaction throughputs at the pace of traditional finance, with quick finality and almost no transaction fees. With a decentralized protocol, its carbon-neutral platform and distinct pure Proof-of-Stake (PoS) consensus method resolve the “blockchain trilemma.”

   

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