IOTA (MIOTA) Foundation has announced a $5 million in grant to community members wanting to contribute ideas to the Coordicide-related research, a press statement has shown.
Not long that IOTA announced the Coordicide, a major step towards completely decentralizing IOTA by completely removing the Coordinator from the network.
Now, after the announcement to move to Coordicide, IOTA has been researching on the best practices to implement the innovative idea.
While IOTA has been researching on the idea and has published diverse articles on the Coordicide, the team decided to give it a priority and are therefore researching on how to perfect the innovation.
This is the reason IOTA is encouraging community members to research on Coordicide.
“We hope to attract expertise from academia and other research organizations to propel the growth of the IOTA ecosystem and to further the adoption of the technology,” IOTA Foundation said in a release.
On Coordicide, the IOTA core team says it has reached a particular stage where it is necessary to receive contributions from researchers.
Now, the team is opening the research to a broader community of researcher and academics. This is an avenue for those who deeply understand Distributed Ledger Technology to add theirs to Coordicide.
The topic of interest, according to the release, are:
- Efficient decentralized random number generators,
- Attacks on the IOTA protocol,
- Scaling through trustless partial Tangle validation,
- Proof-of-Work alternatives for spam prevention in the Tangle,
- Optimization of the networking layer to avoid network congestion,
- Reputation system based on node behavior,
- Efficient tip selection algorithms,
- Theoretical properties of query-based voting schemes,
- Theoretical behavior of cellular automata based consensus,
- Efficient algorithms for timestamping of transactions.
Although there’s room for smaller grants that may be lesser than $50,000, researchers and academics can also put forward a proposal that is as high as $1,000,000.
Not long, Professor Sebastian Müller received a grant of $18,900 to research on the Fast Probabilistic Consensus mechanism. Meanwhile, $5,000,000 has been set aside for those wanting to research on Coordicide.
IOTA has been a project centered on research. IOTA community is fortified with academics who make findings on ideas that will make the ecosystem grow. At the moment, IOTA (MIOTA) has numerous use cases and it is being used by diverse institutions.