TL;DR Breakdown
- MIT looking to strengthen Bitcoin’s Network.
- Microstrategy and other blockchain firms strongly in support.
- $4 million dollars raised so far.
Microstrategy has been found to be one of the blockchain industry leaders that the Digital Currency initiative (DCI) of MIT has raised close to $4 million off recently. Another company they have done business with is Coinshares. They stated in their press release that this is in a bid for them to strengthen the Bitcoin Network.
MIT’s corroboration with Microstrategy, others
Bitcoin has been in circulation for over 12 years now after Satoshi Nakamoto created it. After that, the Bitcoin Network has never been down save twice. On both occasions, the network was swiftly restored by their development team. This gives the Bitcoin Network cause to boast of a strong network. However, DCI, an arm of the MIT, has decided it best to further strengthen the security of the network.
The DCI are working with various top blockchain companies like Microstrategy and Coinshares with plans to create a new Bitcoin Software and security project. The press release stated that they have raised $4 million dollars, which is half of the projected target from various blockchain top-shots such as Michael Saylor of Microstrategy, Jack Dorsey of Twitter and Square, Gemini, Coinshares and many others.
Microstrategy’s CEO strongly behind the project
Michael Saylor was quoted saying that Bitcoin is by far the most significant creation since the Internet was born. He claimed that they had a duty towards making sure that the cryptocurrency as well as its underlying infrastructure are maintained and that there is an improvement on the network from time to time. MIT’s DCI, being a non-profit institution, made their developers an even better choice of being at the forefront of the project’s execution. The team of developers is looking to strengthen the network’s defenses against all kinds of bugs that could be found in the network.
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