The National Science Foundation has awarded $3 million in grants to three American Universities in order to further explore the technology behind cryptocurrencies.

Cornell, the University of Maryland and the University of California Berkeley will work jointly on the Initiative for Cryptocurrency and Contracts (IC3), a program designed to further the developing industry.

Science And Technology

As more and more startups join the cryptocurrency community, many believe that more work needs to be done in order to address the concerns surrounding digital currency transactions. IC3 is aiming to do just that by using scientific research to help shape the industry's future.