Whilst Monero is a decentralised cryptocurrency with no central control, there is a community led Monero research lab who have taken it upon themselves to improve the Monero network through carrying out extensive research and through implementing various upgrades etc.
Monero Research Lab are currently focusing some of their efforts on further research into Monero’s multi-sig wallets, one of the unique features of the Monero network that make it technically one of the most secure crypto projects going. Within multi-sig wallets, transactions require more than one key in order to send transactions, therefore, this is something that the team behind the research lab want to pay close attention to.
In essence, this is a unique feature that will eventually pay dividends to Monero as a product.
Two members of the lab, Brandon Gooddall and Dr. Sarang Noether have recently launched a new crowdfunding campaign in order to allow the team to access the funds needed to continue in this research area. Since Monero is open source, they do not employ people directly to carry out this research, therefore the lab is composed primarily of volunteers who need access to funding in order to complete the research. Both Gooddall and Dr. Noether are requesting different amounts in their crowdfunding campaigns, yet the founder of Monero, Riccardo Spagni has spoken out about the campaigns, suggesting that this crowdfunding is essential to the future progression of Monero. According to The Next Web, Spagni has said:
“The Monero Research Lab has been primarily responsible for major innovations in Monero, such as RingCT, so I’d definitely attest to that.”
According to Gooddall:
“I am asking for $9,000 USD/month; this is in line with market rates for a Ph.D. scientist and mathematician (accounting for the tax implications of working outside a traditional employer), and represents my assessment of fair compensation. and I am asking at 71.88 USD/XMR as my baseline exchange rate. For the last two funding periods, I was using the 30 day EMA to estimate the Monero exchange rate, but this always leads to an overestimate of price during a bear market.”
It’s a pricey request, and is one of many, but through these campaigns, the likes of Gooddall and Dr. Noether expect to be able to enhance their own research and really pin down the future of Monero as a secure technological innovation. This in turn will do great things for the Monero project and most importantly for you investors, XMR as a cryptocurrency too.