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Australia's oldest university announces a cryptographic partnership



University crypt
Image: sydney.edu.au

The Australian Historical University has signed a major contract with the new krypton project.

The Sydney University will work with the South Korean blockade saw platform Phantom, which aims to compete with Ethereum and EOS.

Fantom (FTM) has no shortage of cash since it launched the initial $ 55 million offering (ICO) in June this year and has agreed to sponsor university researchers to help build their smart contract technology.

Phantom Chief Executive Dr. Ahn Byung says that it's a "thrilling" contract for its business and block-chain industry.

"As we strive to accelerate the introduction of the generic technology blockchain, we need to address a number of key technical challenges, including safety, scalability and energy consumption," says Dr Ahn.

"In order to start this process, the industry needs to focus more on research-academia, lacking research."

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Dr. Ahn Byung I, Fantom CEO

To create a university 168 years ago, this is an exciting jump in a new and fast-growing field.

"As educators, our challenge is to provide students with as much experience and as much tools as possible to succeed in today's industries," said Bernhard Scholz, Associate Professor at Sydney University.

"Blockchain has been a dominant player in the programming process, and we are looking forward to our development, promoting our work with Fantom."

The goal of Fantom is to make up to 300,000 transactions per second, almost free of charge, allowing businesses and consumers to easily carry out daily transactions in various industries.

By reaching this goal, it would be above Ethereum and EOS in terms of transaction speed, and it also plans to be more efficient and safer.

Australia is the first destination for Fantom's global expansion plan. It has set up an office in Sydney, which has 17 percent of its software developers.

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