Several institutions in the United States are ready to develop a new cryptocurrency call To merge. It seems that Bitcoin (BTC), XRP and Ethereum (ETH), the three largest digital currencies in the market, may have a new competitor trying to take their place.
Professors and officials from several US colleges will create a cryptocurrency that will have the characteristics of Bitcoin and XRP. Some of the universities involved are the Massachusetts Institute of Technology, Stanford University and the University of California at Berkeley.
These individuals and experts have already created the so-called Distributed Technology Research (DTR) which is supported by the Pantera Capital Management hedge fund.
Joey Krug, Pantera Capital's co-chief investment officer in San Francisco, commented:
"The public official is aware that these networks are not scalable, we are at the height of something where, if this does not scale relatively quickly, it could be relegated to ideas that were beautiful but that did not work in practice: more like 3D printing that the Internet. "
The unit-e could process 100,000 transactions per second and beat Bitcoin and Ethereum. At the moment, Bitcoin is able to process between three and seven transactions while Ethereum can process between 10 and 30 transactions per second.
The main critic that Bitcoin receives is due to the fact that it is not a scalable network. To ensure that cryptocurrencies reach people from all over the world, they must be highly scalable.
However, they did not mention anything about the Bitcoin Lightning Network (LN) that will allow the Bitcoin network to process hundreds of thousands of transactions per second without congesting the main network. The same is happening with Litecoin (LTC) and other virtual currencies. Ethereum he is also working to improve his network and process more TPS.
XRP is also a very fast cryptographic network that is used by financial institutions around the world and by users who want to send fast payments between the exchanges.