One of the largest tech universities in the world, forward-looking IT executives and entrepreneurial pop stars are all paying attention to the improvements in the Bitcoin network. In a recent study by the Massachusetts Institute of Technology (MIT) and the Digital Currency Initiative (DCI) announcedthat as part of the new project “Bitcoin Software and Security Effort”, “four-year research and development program ”. Objective? “Strengthen the Bitcoin Network and Oversee Industry Commitment to Open Source Funding.”
DCI and MIT are investigating the BTC network
DCI has said it will work with “Industry leaders” as part of its latest initiative. The project group will work on the development of Bitcoin Core through “Attracting network and operating system security experts”, but also a different kind of IT specialists.
MIT added that it has already raised $ 4 million, which is an amount to help advance the project. The university also announced that this is not the end. Apparently, there is a chance that the value of the aid will even be doubled. The university also counts on the support of many well-known BTC supporters and companies such as: Twitter, Square, Fidelity Digital Assets, CoinShares, Cameron and Tyler Winklevoss from Gemini, and Michael Saylor, head of MicroStrategy and MIT graduate.
The DCI project is said to strengthen the BTC network against the threats of hacker attacks, and build “long-term protection “ the first layer of the cryptocurrency blockchain.
Saylor commented on the start of the project in a characteristic way.
– Bitcoin is the most important innovation since the advent of the internet – He said.
It is worth adding that the MIT project is not the only initiative aimed at securing Bitcoin against future threats and problems with the network. Earlier, Dorsey and rapper Jay-Z announced they would be donating as much as 500 BTC ($ 23 million) to a fund to support development teams in Africa and India. In his tweet, the head of Twitter also explained that the independent fund would be led by a team of three, to which he himself is currently looking for a leader. The project is to be completely independent of its founders.
Dorsey has also launched its own BTC initiative through its Square Crypto unit. Its mission is to improve the performance of Bitcoin from the perspective of ordinary users.