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Researchers from MIT and Stanford to Fund ‘Unit-e’ A New ‘Globally Scalable’ Cryptocurrency

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According to a press release dated January 17, a group of researchers from MIT and Stanford University, USA have announced the launch of a ‘globally scalable decentralised payments network.’  DTR (distributed Technologies Research) based in Switzerland is funding the development of the cryptocurrency ‘Unit-e’.

According to reports, researchers from seven major universities in the United States are a part of DTR including MIT (Massachusetts Institue of Technology, Berkley, University of California and Stanford University. Pantera Capital (blockchain investment fund) is also backing the organisation. The press release also confirms that Unit-e’s core team of developers are based in Berlin and has an ‘open-source and distributed systems engineers.’

Pantera Capital’s Co-Chief Investment Officer and a member of DTR Foundation Council, Joey Krug claimed that ‘a lack of scalability is holding back cryptocurrency adoption.’ in accordance with reports on Bloomberg, It will be in the second half of 2019 when DTR will launch Unit-e. The aim of the organisation according to reports is to achieve 10,000 transactions per second for cryptocurrency processing.

The capacity of BTC (Bitcoin) Lightning Network crossed $2 million in terms of transactions, with channels supporting LN to speed up 496.8 BTC. As a result of this, plenty of channels connecting nodes has also seen notable growth in the past two months, with an overall of 14,352 unique channels by the end of 2018.

Depository Trust and Clearing Corporation after the trade financial service came out with a study which suggested that blockchain technology is scalable enough to support daily volumes of the equity market in the United States.

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