. 2 min

University of Wyoming may be staking ADA

If you live in the United States (or elsewhere for that matter), “Wyoming” and “crypto currency” in the same sentence might seem like a strange pair. But in fact, the state of Wyoming has become increasingly bullish on crypto currency in the last few years. They have outpaced any other region in the country when it comes to college level education and providing regulatory guidance for blockchain technologies. Between 2018-2020, the state legislation passed about 13 Bills cementing its title as the most blockchain-friendly state and a haven for blockchain ventures.

The latest bill to join the cohort is BILL NO. HB0001 by the state’s 45th House of Representative. If signed into law, HB0001 will earmark 4 million US Dollars for the University of Wyoming to build and run staking nodes. The nodes will operate on three crypto networks. Some of the money will also be used for initial pledges, as staking networks require pledge by node operators. Once launched, the university pools will be open to the public for delegation. Depending on the success of the venture, most of the profit will go into a fund to support future projects, with the rest going to support blockchain education across the state.

In early 2020, IOG (formally IOHK), the for-profit development firm charged with building the first iteration of Cardano donated $500,000 in ADA for the development of blockchain technologies at the university. As part of the exchange, a lab was also created for joint research by the university and IOG scientists.

While there hasn’t been any public announcement about what blockchain networks will be chosen by the university, we here LIDO Nation believe Cardano is strongly positioned to be picked, given its strong ties to the University. Cardano development is also guided by strong academic and scientific rigor: a perfect match for a university environment. Algorand also seems like a great pick. If you are not familiar with Algorand, it is the brain child of a MIT professor, Turing award recipient (the highest recognition you can receive in computer science), and world renown cryptogropher. Although not with the same rigor or world-minded as Cardano, Algorand is a staking (proof-of-stake) blockchain network that puts a lot of science into the development of the network. Last but not least, it would make sense for an oracle centric blockchain to be added to the mix.

It’s a bold new world. Ethiopia wants to take the helm in Africa and Wyoming in the United States. Both of these regions are near and dear to my heart and home to some of my closest soulmates. I am ready for happenings such as these to no longer be news; for the self-custody of identity, wealth, and governance to be afforded to all man, woman and child bringing with it, an honest chance of the “constant pursuit of true and solid happiness.”

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