'Unit-e', the cryptocurrency capable of performing 10,000 transactions per second

After a decade since the creation of the first Bitcoin by Satoshi Nakamoto, a pseudonym of the person or group of creators of the project, their comings and goings, booms and crashes, have been protagonists during these last years.

The cryptocurrencies, whose function is possible thanks to Blockchain technology, are an alternative to traditional currencies, since transactions work without the need for intermediaries.

2017 was undoubtedly the year of the fever for cryptocurrencies, especially Bitcoin and Ethereum, which augured a future full of possibilities. However, the current reality is much more different, since the value of ** Bitcoin has fallen by more than 70%. In 2018 a Bitcoin was worth less than 4,000 euros, a figure far removed from the value it obtained in 2017, which was 17,000 euros.

Why has Bitcoin fallen precipitously? The main reason is that the blockchain technology is still in a very incipient state, and only thanks to this are the transactions with cryptocurrencies possible.

After the fall of Bitcoin, people's distrust of this type of currency was aroused, but it has also been an opportunity to give space and prominence to other cryptocurrencies. In this line, a group of experts from seven different universities in the USA. They have developed a new cryptocurrency that aims to unseat Bitcoin: 'Unit-e'.

The development of 'Unit-e' is being funded by Distributed Technologies Research (DTR) and includes researchers from the Massachusetts Institute of Technology (MIT), Stanford University and the University of California, and aims to create a "network of globally scalable decentralized payments ", as the lack of scalability" is holding back the adoption of the cryptocurrency, "they said in a statement.

Given the problems of scalability, the frequency of creating new blocks and size limitations, researchers have had to "dismantle" the blockchain technology in order to improve its components and develop 'Unit-e'.

What will be the differentiating attribute of this cryptocurrency? According to the group of experts, 'Unit-e' will be the first virtual currency capable of making transactions directly without either of the parties having to trust the other or a central government. In addition, it will be the fastest cryptocurrency developed so far.

Bitcoin has an average of between 3 and 7 transactions per second and Ethereum is around 10 and 30 transactions. 'Unit-e' will achieve, according to its creators, up to 10,000 transactions per second. If this is the case, it will surpass traditional payment systems such as Visa that reach 1,700 transactions.

The creators want to launch this new cryptocurrency during the second half of 2019. The question is: will it stand out above Bitcoin?