Aptos is going to school
Aptos Labs, the company behind the Aptos blockchain, has announced a $50,000 grant award to Professor Lorenzo Alvisi of Cornell University in New York. The grant will fund student research in scaling blockchain performance using a “client-centric architecture.” Aptos Labs CTO and co-founder, Avery Ching, stated that blockchain education remains a core value of Aptos’ mission.
Aptos is a layer one blockchain that was launched in October 2022 by Aptos Labs. It was founded by Avery Ching and Mo Shaik, who previously worked on Meta’s Diem’s Novi wallet. Aptos uses parallel execution, which the company claims makes transactions fast while keeping them cheap.
In late July 2022, Aptos raised $150 million in funding led by FTX and investors, including Parafi. In March 2022, Aptos raised another $200 million through a strategic round that included Andreessen Horowitz, Multicoin Capital, and Haun Ventures.
Blockchain companies have a long history of donating funds to educational institutions. In 2018, Ripple committed $50 million to universities, including Princeton and the University of Texas, through its University Blockchain Research Initiative. In 2020, IOHK, the cryptocurrency company behind Cardano, donated $500,000 worth of Cardano (ADA) to the University of Wyoming to help fund blockchain research.
According to Professor Alvisi, “This collaboration with Aptos will help our team understand how to allow existing blockchain-based applications to take full advantage of our novel architecture.” He added that Aptos’ Block-STM, a scalable blockchain execution engine, is a beautiful example of bringing the concurrency advantages offered by databases to blockchains.
Blockchain and education
Blockchain technology has the potential to revolutionize the education industry by providing secure and transparent systems for storing and exchanging educational data, credentials, and certificates. Many blockchain companies are exploring ways to apply the technology to improve the efficiency and accessibility of education.
For example, some companies are developing blockchain-based solutions for managing and verifying academic credentials. These solutions offer secure and tamper-proof records that can help prevent fraud and ensure that students receive proper recognition for their achievements.
Another area where blockchain can contribute to education is through the creation of decentralized learning platforms. These platforms can offer students access to a wide range of educational materials and courses, while enabling them to earn and store their credentials on the blockchain.
Blockchain can also help to improve the financial aspects of education by enabling secure and transparent payments and remittances. For example, blockchain-based platforms like UniFox and EduCoin are exploring ways to help students and educational institutions to securely manage and transfer funds.
The blockchain industry has the potential to bring significant benefits to the education sector. From improving the transparency and security of educational records to enabling new and innovative educational platforms, blockchain has the potential to transform the way we learn and grow.
Aptos Labs’ grant award to Cornell University is a testament to the continued growth and development of blockchain technology in the education sector. The grant will help students research and develop real-world, scalable use cases and applications that will benefit the future of the blockchain industry.