Cardano blockchain builder, Input Output Global, has continued with the expansion of its network of academic research bases while simultaneously promoting blockchain technology. CEO Charles Hoskinson announced Monday that the development firm behind Cardano will fund a $4.5M blockchain research centre at Stanford University over the next three years.
Vision and mission of the research hub
Tim Harrison, VP of Community and Ecosystem, described the choice of the California-based university as ideal thanks to its excellency in academic affairs. Harrison noted that the goal of the research center is to help blockchain learners deliver innovative projects to advance the blockchain space. The new IOG-backed research hub will accommodate university researchers from multidisciplinary backgrounds.
The ‘Stanford IOG Research Hub’ funding follows a previous donation of $500,000 to the university meant to facilitate research into scalability, which is one of the challenges associated with blockchain technology. It also adds to the list of blockchain-related research initiatives that IOG has launched and taken part in. Other top institutions that IOG has worked with include Carnegie Mellon University, the University of Athens, the University of Edinburgh, and the Tokyo Institute of Technology.
Separately, EMURGO Ventures divulged news of an investment in Web3 developer DoraHacks on Monday. This investment will help set up Cardano-focused hackathons and promote the dApp niche.
“This funding will support EMURGO and DoraHacks to host global hackathons exclusively for Cardano’s ecosystem and identify co-investment opportunities into high potential Web3 dApps displaying synergy with Cardano’s blockchain via DoraFactory.”
The latest display of efforts into blockchain research comes as the Cardano ecosystem awaits the Vasil hard fork. There have been several conversations around the upcoming event, including a recent update from Hoskinson on the state of affairs.
Cardano leads the crypto industry in user brand intimacy ranking
The recently published MBLM Top Brand Intimacy 2022 report ranked the Cardano blockchain 26th overall among other brands in user intimacy. Cardano recorded a quotient score of 52.6, emerging as the leading cryptocurrency project in a list that included other popular brands like Sony and Tesla. Bitcoin, the flagship coin and market leader in terms of market capital, ranked four positions lower. Polkadot came in at position 111 – nine places ahead of Ethereum.
As per the report, Cardano’s popularity with the users is due to its lower investment costs and positioning of the network as one that seeks to serve the changemakers and innovators. Moreover, the blockchain focuses on initiatives that intend to create positive change around the world, hence the optimism around it.
The MBLM’s Brand Intimacy Study ranks brands based on how emotionally compelling they are to users. The ranking is compiled with the help of AI and big data analytics to determine the closeness between products and consumers. Notably, it was the first time that cryptocurrency projects were listed in the ranking, with the sector among the industries that were evaluated.
The shift shows the changing attitude to Web3 technologies and their adoption. For Cardano particularly, it was a case of breaking barriers. User sentiment following the ranking was a testament to this, with several lauding the blockchain for outperforming titans such as Google. In his fashion, Cardano founder Charles Hoskinson told CoinTelegraph that the network has achieved this while remaining decentralized as ever. Today, there are builders from over 100 different countries around the world, all collectively building in the Cardano ecosystem.
To learn more, visit our Investing in Cardano guide.