IOHK Develops Cardano-Based Anti-Counterfeiting Hardware

IOHK Develops Cardano-Based Anti-Counterfeiting Hardware

The partnership between the University of Wyoming and Input Output Hong Kong (IOHK), the company behind the development of Cardano, started to take shape, Crypto News Flash website reported.

Charles Hoskinson, CEO of IOHK, commented on the research that his company is undertaking together with the university.

CNF reported in mid-February IOHK’s $500,000 donation to the university to support creative blockchain apps utilizing smart contracts. Furthermore, details about the establishment of a new research center that is part of the university’s blockchain research laboratory have been revealed.

Hoskinson underlined the significance of authentication and anti-counterfeiting for the crypto industry. He clarified that there are alternatives to all supply chain problems that have arisen over the last 15 years. Nonetheless, they aren’t very “user-friendly” according to Hoskinson.

IOHK and the university are considering the development of a chip with a particular purpose. The chip will be secure hardware package that will implement cryptographic operations:

“Basically the idea is that you have safe circuits that are anti-tampering. When you’re manipulating it, it’s hard to get things off that chip, they’re isolated from the rest of the operating system. Basically you can use this to store and use private keys. These chips, once you design them, can be very small and they can also have things like NFC or RFID all sorts of cool antenna things they can do and they are extremely cheap to make (…).”

Weiss Ratings: World needs systems like Cardano

Weiss Ratings has been one of the Cardano’s (ADA) admirers since the cryptography project started its journey from Byron to Shelley.

The crypto rater has acknowledged on Twitter the great efforts exerted by Cardano’s developers to release Daedalus 1.0.0, which is part of the project’s transition to Shelley.

It added that the wallet includes excellent features. Weiss also expressed strong interest in IOHK’s project, stating that the crypto market needs projects like Cardano (ADA) to take over the world.

The crypto rater wrote:

Cardano has launched Daedalus 1.0, its full node wallet for ADA users, as a part of Cardano’s transition from Byron to Shelley. The wallet provides highly secure transactions and a refined UI. Future versions will support custom tokens and more.

Good to see the team at IOHK continuing to plow ahead. We need systems like Cardano’s ready to step up and take over a world where the legacy system is on its death throes.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.