A researcher from Princeton University received a federal funding of more than $400,000 to study mechanism incentives and their applications to cryptocurrencies like Bitcoin.
Seth Weinberg, an assistant professor of computer science at Princeton is leading the research project, "Duality-based tools for simple vs. optimal mechanism design and applications to cryptocurrency." The project received the grant of $450,000 on June 28 by the National Science Foundation is set to begin this September and will extend until August 31, 2020.
The primary aim of the study is to design the algorithmic mechanism, and the theoretical incentives at play and cryptocurrencies constitute only part of the research study.
The organization’s website mentions that the secondary focus of the project is to resolve the cryptocurrency incentive issues arising within Bitcoin, an emerging cryptocurrency, by applying the theoretical foundations.