A ‘better Bitcoin’ on the way?

BitcoinAcademics from various U.S. colleges including MIT, Stanford University, and the University of California, Berkeley have teamed up to create a digital currency designed to be able to process as many as 10,000 transactions a second, which is thousands of times faster than Bitcoin and quicker even than credit card payments processor Visa.

Called Unit-e, the new virtual currency is the first project initiative of the just-launched Distributed Technologies Research (DTR), a non-profit foundation formed by the academics with backing from hedge fund Pantera Capital to develop decentralized technologies. DTR is funding a distributed collaboration of researchers from top universities across the US, working on the unsolved technical challenges of blockchain scalability.

Click here for more…