Blockchain innovation – Algorand distributes $50 million over five years

In the United States, six universities are concerned, including those of Yale and Carnegie Mellon, as well as that of Florida. The other beneficiary countries are Italy, Germany, South Africa and Singapore. A total of 77 proposals with more than 550 participants representing 46 countries were received for the selection phase and an international jury of 27 experts had to decide.

Introducing #AlgoACE: our $50 million blockchain research program. We are funding 10 schools to grow the Algorand ecosystem and challenge the norm. Find out how ACE will power the future of crypto here: https://t.co/2UeAo8A10C #ShapeTheFuture

The selection process was deemed difficult, given the number of excellent applications we received […] we very much look forward to seeing the amazing work that grant recipients will come up with in the months and years to come commented Dr. Hugo Krawczyk, Algorand Foundation Principal Investigator and ACE Program Manager.

ACE Program Objectives

The ACE program will extend over a period of five years. The grants awarded fund research and education centers on university campuses with the mission of multidisciplinary research in the blockchain and cryptocurrency space.

The development of real blockchain solutions, applications and use cases, social impact and sustainability projects based on blockchain technology will be implemented, as well as education and community expansion Algorand.

The development of the Algorand community through the ACE program can increase interest in the native ALGO token. According Cryptonewszthe coin could calmly navigate around $0.5 with a maximum price of $0.68 and a minimum price of $0.3 in 2023, which causes its price not to drop, but to remain constant.

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