The University of Nicosia, through the Institute For the Future (IFF), has announced that it has implemented the Obyte blockchain, becoming the seventh independent Order Provider of this network.
Launched on Christmas Day 2016, Obyte uses a DAG (Directed Acyclic Graph), which allows it to have transactions directly connected to each other without a central body to manage them.
According to the press release, this is the first platform to achieve full decentralization.
IFF is a research centre that has focused its attention on emerging technologies, helping to apply them to everyday life, which in the case of this institute also involves educating people about technological transformation.
In fact, as early as 2013, IFF launched the first free online course on blockchain and crypto.
As part of this collaboration with Obyte, the IFF acts as an interface between the academic world and that of the blockchain on a large scale, allowing not only to use and demonstrate the effectiveness of the technology but also to provide interesting data and in-depth studies on the more technical aspects.
The benefits of using the blockchain have been underlined by Obyte’s founder, Anton Churyumov:
“Engagement with the University of Nicosia provides a fantastic opportunity to educate the broader public about the benefits of Obyte’s DAG and its potential application. We are both honoured to have such a respected institution act as a Witness, engage with us professionally and are excited by the potential to proselytise about the possibilities this pioneering technology offers companies looking at Distributed Ledger Technology use.”
Thanks to this collaboration there will be a lot of data collected both on this blockchain and on the distributed ledgers, commented IFF’s research manager, Klitos Christodoulou.
“We are very excited to join and support the Obyte network. At IFF we conduct academic research in distributed ledgers and digital currency to further advance the field. As part of our community building activities in the blockchain space, we embrace the development of innovative projects that are based on or inspired from the core blockchain technology. As part of our exploration in the space we have been much interested in understanding the behaviour of alternative data structures for decentralized ledger systems/protocols. The idea behind Obyte with the proposal of using a decentralized DAG data structure for offering tamper proof storage of arbitrary data has intrigued the interest of the research team.”
Lastly, it is worth mentioning the fact that this blockchain allows sending crypto via email without the recipient requiring an Obyte address.