New Internationally Scalable Cryptocurrency Unite- E will be launched and funded by Stanford and MIT Researchers

A team of researchers from the topmost universities of the United States such as Stanford and MIT and others has expressed the desire to launch a new decentralized payment network on a global scale. The press released the announcement on 17 January.

A Non-Profit Organization called the Distributed Technology Research [DTR] mostly a new organization located in Switzerland will support for the development of Unite–E cryptocurrency by funding it. It was a late but an additional announcement that was made during the same press release held on 17 January.

The Distributed Technology Research organization includes scholars from 7 top US Universities and group of bright minded researchers from science and technology including top Universities like the Massachusetts Institute of Technology [MIT], University of California, Stanford University and the University of Berkeley according to the reports from Bloomberg.

Blockchain investment fund Pantera Capital has extended its support to the DTR organization by backing the project.

The core team developers of Unite-E Cryptocurrency are situated in Berlin as per the press release. The core team members are composed of open source system engineers and distributed system engineers.

The company’s chief Investment officer and one of the key members of the DTR Foundation Council Joey Krug at Pantera Capital stated that Cryptocurrency adoption is holding back due to lack of scalability.

According to the Bloomberg reports, the non-profit organization DTR is preparing to launch the new cryptocurrency Unite-E during the latter half of 2019. The team of developers further mentioned about the speed of the Unite-E, the developers said that they are aiming for around 10,000 transactions per second if achieved will be an added advantage over other top cryptocurrencies in the market as of now.

The ability of the Bitcoin [BTC], Lightning network [LN] on December 23, 2018, had crossed above $2million mark in a transaction with the node channels that support LN will be able to facilitate around 496.8 BTC. The number of channels connecting nodes has grown significantly for the first time since the past two months, the total unique channels connected to the node is around 14,352 during the end of 2018.

Depository Trust and Clearing Corporation a post-trade financial service company during October 2018 announced about a study that the blockchain technology itself is scalable enough to support the day to day activities of US capital markets.