MIT, Stanford, UC Berkeley and other major US college researchers are moving to develop a new cryptography. According to the press release, they are targeting a distributed payment network that can scale globally.
The Swiss-based nonprofit organization Distributed Technologies Research (DTR) will be responsible for the development and the development cipher name is Unit-e. According to the report, DTR is said to have participated in seven university researchers including MIT and Stanford. The core development team will be comprised of an open source distributed system engineer based in Berlin.
DTR plans to launch Unit-e in the second half of this year. DTR is aiming to handle up to 10,000 transactions per second. There is interest in resolving the point that the lack of scalability is hindering the use of cryptography. For more information, please click here .