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Author Topic: [2019-01-17]US academics say their shardy blockchain will be 10X faster than Vis  (Read 81 times)
ppblockchain
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January 17, 2019, 03:49:51 PM
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US academics are working together to create a new and improved cryptocurrency in a bid to rival Bitcoin.

According to Bloomberg, professors from seven US colleges (including MIT, University of California, Standford University, and Berkely) are looking to create a digital currency capable of processing thousands of transactions a second without sacrificing the basic principle of decentralization.

https://paperblockchain.com/us-academics-say-their-shardy-blockchain-will-be-10x-faster-than-visa/

Daily Cryptocurrency News - Paperblockchain.com
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January 17, 2019, 05:26:43 PM
 #2

US academics are working together to create a new and improved cryptocurrency in a bid to rival Bitcoin.

According to Bloomberg, professors from seven US colleges (including MIT, University of California, Standford University, and Berkely) are looking to create a digital currency capable of processing thousands of transactions a second without sacrificing the basic principle of decentralization.

https://paperblockchain.com/us-academics-say-their-shardy-blockchain-will-be-10x-faster-than-visa/
Decentralized cryptocurrency is open to improvement. Therefore, let American scientists work on their decentralized cryptocurrency Unit-e. It is pleasant to realize that scientists from different educational institutions have united to improve the decentralized cryptocurrency. If they assume that their coin will be released in the second half of this year and will have a scalability of 10,000 transactions per second, that is not bad. But are they really going to compete with Bitcoin itself? Although the stereotypes and myths about the greatness of Bitcoin, if it does not increase its scalability and other technical parameters this year, it can be changed.

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January 18, 2019, 09:49:05 PM
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I don't think anything worthy will come out of this

Though I won't be surprised if they end up spending a few million dollars from grants or even taxpayer's money without producing anything working and usable. Maybe, that's what the whole shebang is all about. These eggheads can pretty smart in such questions. Cryptocurrency was a Klondike during the last couple of years, and it is in fact surprising that these academics didn't come up with something like this earlier. Well, maybe, they are not that smart actually

I remember as some dude here promised a super-duper fancy coin to be released in February, though he didn't specify the February of which year exactly. And it was like two years ago. I haven't heard from him lately

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January 19, 2019, 02:36:19 PM
 #4

I don't think anything worthy will come out of this

Though I won't be surprised if they end up spending a few million dollars from grants or even taxpayer's money without producing anything working and usable. Maybe, that's what the whole shebang is all about. These eggheads can pretty smart in such questions. Cryptocurrency was a Klondike during the last couple of years, and it is in fact surprising that these academics didn't come up with something like this earlier. Well, maybe, they are not that smart actually

I remember as some dude here promised a super-duper fancy coin to be released in February, though he didn't specify the February of which year exactly. And it was like two years ago. I haven't heard from him lately
I agree with that. Looks like the next "big" project.
As Tone Vays said, nothing is better than Bitcoin by now.
And the speed of transaction is not the most important aspect.
By the way, Lightning Network deals with it, easy.
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January 19, 2019, 03:49:02 PM
 #5

I don't think anything worthy will come out of this

Though I won't be surprised if they end up spending a few million dollars from grants or even taxpayer's money without producing anything working and usable. Maybe, that's what the whole shebang is all about. These eggheads can pretty smart in such questions. Cryptocurrency was a Klondike during the last couple of years, and it is in fact surprising that these academics didn't come up with something like this earlier. Well, maybe, they are not that smart actually

I remember as some dude here promised a super-duper fancy coin to be released in February, though he didn't specify the February of which year exactly. And it was like two years ago. I haven't heard from him lately
I agree with that. Looks like the next "big" project.
As Tone Vays said, nothing is better than Bitcoin by now

I'm afraid these dudes are late to the party

Nevertheless, if they think that they do have something valuable to offer, why not join Bitcoin's developers (or developers of some other respectable altcoin)? If they consider their idea too radical to be included directly in Bitcoin (which is understandable), they can easily create a sort of "spin-off" project (not to be confused with a hard fork) in the same way as other Bitcoin-based or coin agnostic projects did like RSK, TumbleBit, Schnorr Signatures, and even the already mentioned Lightning Network itself

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January 19, 2019, 05:49:35 PM
 #6

In this case, the decentralized Unit-e of these American scientists should be something special and have new qualities, and not just have some improvements. It is very good that the specialists of several respected institutions of higher education have joined forces to improve the decentralized cryptocurrency. The scientific approach to the problem is somewhat different from the approach of practitioners and, as a rule, ends with certain achievements.

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January 19, 2019, 07:03:47 PM
 #7

It's nothing new, several cryptocurrency including Ethereum plan to use Sharding as their on-chain scaling solution.

But many people argue that sharding sacrifice decentralization mainly because attacker only need to partially take control over the network to launch some attack. Even ETH's Sharding FAQ mention some of it's weakness.

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January 19, 2019, 10:06:18 PM
 #8

yeah , right, I'm not  a professor , but I can claim many things too Smiley
lets see the testnet released and then we talk
literally every new shitcoin claims to be better than bitcoin in almost every aspect
faster, shinier , but in reality there is yet one to challenge its supremacy
will keep an eye on the project, though

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January 19, 2019, 11:22:39 PM
 #9

Anybody can make a shitcoin that will be much faster than Bitcoin and not use as much energy. We already have coins that have that advantage and they aren't getting more popular than Bitcoin. Most of those new coins is dying in their first year. Litecoin can process 6 or 7 times more transactions per second than Bitcoin but I don't see it overtaking Bitcoin anytime soon.

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January 20, 2019, 07:04:01 AM
 #10

Anybody can make a shitcoin that will be much faster than Bitcoin and not use as much energy. We already have coins that have that advantage and they aren't getting more popular than Bitcoin. Most of those new coins is dying in their first year. Litecoin can process 6 or 7 times more transactions per second than Bitcoin but I don't see it overtaking Bitcoin anytime soon

It is called the first mover advantage

But it is not only that, of course. If we cut the crap, the price of all crypto (Bitcoin included) is determined by speculation, and in these circumstances it doesn't really matter how many transactions Bitcoin can actually process daily, hourly, or whatever. What matters is how reliable and secure a coin is, and this is exactly where the first mover advantage comes and shines. Technical metrics like the number of transactions per second and similar stuff are important only as much as they can contribute to hype, not actual application because there is no such application

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