Aptos (APT) Disbursed Funds For Blockchain Researchers At Cornell University

Aptos donated funds for blockchain research at Cornell University. (Photo; Doc. Coincritical)

JAKARTA - Aptos (APT), a layer-1 blockchain project that focuses on web3, provides US$50,000 in grants to Professor Lorenzo Alvisi of Cornell University in New York. The funds will be aimed at research related to distributed computing and game theory.

▁penegakan Ching, Chief Technical Officer and co-founder of Aptos Labs, stated that their company is very pleased to work with Professor Alvisi's group because they share the same vision of building scaled blockchain applications and helping the industry's future.

The funds from the Aptos will be used to sponsor student research in scaling blockchain performance and expressing secure, error-resistant, and decentralized log append-only abstractions.

According to a Coinpeaker report, Ching believes that blockchain education remains the core value of Aptos' vision. The aptos, which is a first-tier blockchain set up in October 2022 by Aptos Labs, was founded byteland Ching and Mo Shaik, which initially worked on Meta's Novi crypto wallet and Diem coin. The aptos uses parallel execution, promised by the company to make transactions fast and keep cheap.

To achieve the vision of creating decentralized, secure, and fast blockchains, Aptos developers emerge by providing answers to experimental transaction ordering algorithms that are the successors to Diem experiments. However, the company is still in a very new stage.

Aptos, a blockchain startup focused on layer-1 development, received additional funding of $200 million from investors such as Andreessen Horowitz, Multicoin Capital, and Haun Ventures.

The price of Aptos native coin, APT, also rose 47 percent in one day, at the time of writing APT trading at Rp226,981. This funding round added US$150 million (approximately Rp2.3 trillion) received by Aptos at the end of last July, led by FTX and Parafi.