The Algorand Foundation has completed a strategic integration, taking over protocol development and IP, and committing to invest $15 million

The Algorand Foundation and Algorand Technologies announced an agreement to integrate the intellectual property of Algorand Technologies and the development and support activities of the Algorand protocol into the Algorand Foundation.

In addition, to support the resource needs of Algorand Technologies, Silvio Micali, and the Algorand Foundation in ensuring the ongoing maintenance and support of the Algorand protocol, the Algorand Foundation will commit to investing at least $15 million for the technical maintenance, enhancement, and support of the Algorand protocol.