IOTA grants $5 million for Coordicide research program

The IOTA Foundation has granted $5 million for Coordicide research, as reported via an official blog.
It is part of an upgrade for IOTA, that was announced back in May, as they wanted to remove the centralized coordinating note from the network.

Ken Chigbo Independent Analyst

IOTA will be granting Coordicide research program $5 million for the research, according to a blog statement by the foundation.

Back in May of this year, the move towards Coordicide was announced, it was an upgrade for IOTA which has been planned; the centralized coordinating node of the network was to be removed by this move.

The IOTA Foundation is further contributing to this process by offering five million dollars IOTA grant in the form of smaller grants for research related to Coordicide. In terms of fields of interest they include; the prevention of spamming, optimization of the network, reputation systems, and the decentralized random number generation.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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