June 12, 2020 The National Science Foundation awards a $225,000 grant to KRNC to design Proof of Balance blockchain.

The National Science Foundation (NSF), a research, and education agency of the US government has awarded a $225,000 grant to the blockchain company KRNC to design a Proof of Balance blockchain network. The funding has originated from a phase one grant via NSF’s America’s Seed Fund program. KRNC’s new blockchain network aims to utilize an asymmetric Sybil resistance mechanism, called Proof of Balance and issue tokens to existing holders of US dollars in proportion to user’s dollar balances.