Scientists from leading us universities are working to create a competitor bitcoin

January 18, 2019 670

Professors of leading American scientific and educational institutions want to create a cryptocurrency that will become the main competitor of bitcoin.

According to Bloomberg, a team of scientists from the Massachusetts Institute of technology, Stanford University and professors from several us colleges was created to solve the problem. These specialists should develop a digital currency, the network of which will have a much higher performance than the bitcoin platform.

According to the project participants, the network of BTC's main competitor will be able to process thousands of transactions per second. The professors formed a commercial Fund Distributed Technology Research, and United in a group, which will Finance the hedge Fund Panther Capital.

Cryptocurrency want to call Unit-e, its platform will be able to process up to 10 000 transactions in one second, which is much higher than the performance of the Visa payment system.

According to scientists of American universities, bitcoin has limited potential and will not be able to process thousands of transactions every second due to problems with the scalability of its network. Cryptocurrency Unit-e developers want to launch in the third or fourth quarter of 2019. In the future, users will be able to run smart contracts in the asset network.

According to Professor of the University of Illinois Pramod Viswanath, the launch of a new digital currency will be a breakthrough in the development of the cryptocurrency industry. The new coin will change human life, but a breakthrough will not be possible if experts can not solve the problem of increasing the capacity of the blockchain platform of the project.

The main advantage of the new technology will be the introduction of the blockchain segmentation mechanism. Each node you create on the network will be served only by part of the platform, not all of its power. This system will save costs and increase the speed of processing operations and the number of payment channels in the network.

Now the networks of the main bitcoin and ether cryptocurrencies process 3-7 and 10-30 transactions per second, respectively, so the launch of the new system will be a revolutionary step in improving the blockchain capabilities.