A few days ago, the news spread on the possibility of creating a new Bitcoin (BTC), or at least a better virtual currency. However, Bitcoin has been working for more than a decade and it looks like it will continue to work in the future with new implementations and improvements.
Apparently, there are some university professors from around the world who want to create a new digital currency supported by Credit Suisse and Pantera Capital. The unit-e crypto will be launched this year and may be able to process 10,000 transactions per second (TPS). This is more than five times faster than Visa, which processes an average of 1,700 TPS. However, VISA can reach more than 45,000 TPS.
In order to process this large amount of transactions per second, investigators sought to improve blockchain technology. However, there is no information on nodes or mining activities on the report published by the nonprofit organization founded by professors called Distributed Technologies Research. This non-profit is based in Switzerland.
Bitcoin has grown in a competitive digital currency market over the past 10 years. It has been improved and the developers behind it are trying to improve it and improve it further. At the same time, Bitcoin has thousands of miners and nodes distributed around the world. Although Bitcoin continues to grow, there are several companies and projects that are trying to create a better version of Bitcoin.
In the future, Bitcoin will be enhanced with the Lightning (LN) network that will allow the network to reach millions of transactions per second and reduce congestion in the Bitcoin blockchain. Furthermore, these transactions will be processed for very low fees.
Although the product may be technologically superior, this does not guarantee the success of this project. In fact, there have been several new technologies that have not been adopted all over the world.
The unit-e may not be able to succeed as they expect. Bitcoin has been adopted not only as a digital resource, but also as a way to be against current governments and central banks. In addition, enthusiasts use Ethereum (ETH) for smart or Monero (XMR) contracts for private transactions.
At the time of writing, Bitcoin is trading around $ 3,600 and has a market capitalization of $ 62.95 billion. In the last 24 hours, it has lost almost 4% of its value.