MIT, Stanford Scholars To Launch Unit-e Cryptocurrency: Global Scalability On The Cards?

By Prashant Jha

A group of researchers from top US institutes like Stanford and MIT have undertaken an extremely ambitious project: that of launching a new crypto coin named Unit-e with the aim of achieving “global scalability”.

Since it is an aim that has long eluded most cryptocurrencies of any repute, it is no wonder that the press release announcing the slated launch has sent crypto enthusiasts into a tizzy. A press release was published for the world to read on 17th January,2019 revealing this plan.

The funding for this unique crypto coin is to be provided by a Swiss nonprofit called the DTR (Distributed Technologies Research). This is an absolutely new organization, the founding of which was also announced to the world via the same press release.

The organization has some of the brightest minds of science and technology as it consists of scholars from top US universities such as the MIT (Massachusetts Institute of Technology), Stanford University, Berkeley and the University of California. Blockchain investment fund Pantera Capital reportedly chipped in to help this organization and its scholars fire up this project.

The DTR plans to come up with a decentralized and globally scalable system of payments with Unit-e, which is expected to be launched somewhere around the later part of 2019. In terms of speed, the team of developers is aiming for at least 10, 000 transactions per second, which will give it a significant edge over many of the most popular cryptocurrencies in the market today.

Babak Dastmaltschi, Chairman of the DTR Foundation Council had this say about this exciting launch:

“The blockchain and digital currency markets are at an interesting crossroads, reminiscent of the inflection points reached when industries such as telecom and the internet were coming of age. These are transformative times. We are nearing the point where every person in the world is connected together. Advancements in distributed technologies will enable open networks, avoiding the need for centralized authorities. DTR was formed with the goal of enabling and supporting this revolution, and it is in this vein that we unveil Unit-e.”

Joey Krug, a member of the DTR Foundation Council and Co-Chief Investment Officer at Pantera Capital was also rather enthusiastic about the initiative as this is expected to boost crypto adoption manifold by freeing it from its long-standing scalability issues.

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