Cryptic Labs, a research accelerator primarily focused on solving fundamental problems in security and economics to advance the viability and growth of the blockchain, announced on Tuesday it has formed a partnership with Fractal Platform to provide what it believes is rigorous economic modeling and bespoke research related to Fractal’s proof-of-stake (PoS) consensus algorithm.
Cryptic Labs reported that through the partnership Fractal Platform will initially utilize Cryptic Labs’ experts to test and refine their token-incentive model, which relies on a new and more transparent mechanism for rewarding miners who certify transactions, as well as to help the Fractal Platform team refine their algorithm as they begin deploying it. Speaking about the partnership, Stewart Raphael, Cryptic Labs’ Chief Technologist, stated:
“The Fractal Platform supports high throughput and fast finality with provable security for large-scale networks. And yet their algorithm consumes much less energy than current technologies. Plus, their Proof of Stake algorithm is reliable and transparent. Together, these advances will increase adoption by distributed-application users looking to utilize the Blockchain. We are excited to help Fractal Platform with their economic modeling and ecosystem strategy.”
Humphrey Polanen, Co-Founder and Managing Director of Cryptic Labs, then added:
“We are a unique commercial research lab in that we offer access to some of the most incisive minds in cryptography, cybersecurity, economics, distributed computing, and game theory to help solve problems faced by Blockchain companies. We are very selective about which companies we advise. We believe the team at Fractal Platform has developed a groundbreaking innovation in the Blockchain space.”