The largest universities of the United States, including the Massachusetts Institute of technology, California and Stanford universities have started to develop their own cryptocurrency, which, according to the ones who create it, will leave far behind the Ethereum, and especially Bitcoin, in terms of its technical characteristics.
The main task for the developers of Unit-e (this is how the new cryptocurrency will be called) is to make the speed and number of transactions of the Unit-e blockchain to a significantly new level, as a plan — up to 10 000 operations per second. Even the most popular cryptocurrencies don’t have this characteristics. Thus, the number of transactions per second of Bitcoin network does not exceed 10, and for Ethereum it is 30. Centralized payment systems, of course, have much higher numbers, but even Visa with all its infrastructure and capabilities is not able to process more than 2 000 transactions per second.
In order to achieve the planned aims, the team of developers of Unit-e cryptocurrency, will have to create a fundamentally new blockchain for it, improving each of its existing elements.
If this aim will be achieved, Unit-e will be the first truly convenient and functional decentralized payment system in the world, capable of competing with traditional ways of financial transactions. If not, then it should be admitted that the blockchain was theoretically a good idea, but it was not realized in practice. Some stock speculations with Bitcoin and Ethereum should not be taken into account.
However, Unit-e has a much better chance for success than for a failure. The project has really good funding from Pantera Capital hedge Fund, specializing in investments in the sphere of decentralized technologies. The introducing of Unit-e is planned for the second half of 2019.