DAG-based smart contract platform Fantom from South Korea is funding a scholarship and research group in the University of Sydney in Australia to create a the first-of-its-kind, safe, secure and low-energy programming toolchain for smart contracts.

“With a market capitalisation of over $200 billion, the need for increased security in cryptocurrencies and distributed ledgers is paramount,” Michael Kong, chief innovation officer at Fantom said in a statement sent to Cryptovest. He added, “From multi-million dollar hacks to wallet freezes, we have seen that poorly-written smart contracts have disastrous consequences for the entire industry. This partnership will enable safer smart contract programming while also providing the hands-on experience necessary to drive blockchain innovation and development.”

In addition to the financing facility, Fantom has also committed to donate to the university’s Faculty of Engineering and Information Technologies. Bernhard Scholz, associate professor of Computer Science at …

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