US academics are working together to create a new and improved cryptocurrency in a bid to rival Bitcoin. According to Bloomberg, professors from seven US colleges (including MIT, University of California, Standford University, and Berkely) are looking to create a digital currency capable of processing thousands of transactions a second without sacrificing the basic principle of decentralization. The project is run by Distributed Technology Research (DTR), a non-profit organization established by academics with support from Pantera Capital Management LP to develop decentralized technologies. Unit-e, the digital currency currently in the works, is the DTR’s first initiative. Bitcoin’s problems Bitcoin’s underlying blockchain technology’s processing…
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US academics say their shardy blockchain will be 10X faster than Visa
Source: The Next Web
