MIT’s new cryptocurrency reduces data requirements considerably, researchers say6

MIT researchers have been working on a new cryptocurrency to reduce the amount of data users need to store in order to make transactions by up to 99% versus popular cryptocurrencies, the researchers claim. Next month, Derek Leung, Yossi Gilad and Nickolai Zeldovich will present their paper on Vault, a cryptocurrency said to be “much more scalable” when compared to other already existing tokens.

“Currently there are a lot of cryptocurrencies, but they’re hitting bottlenecks related to joining the system as a new user and to storage. The broad goal here is to enable cryptocurrencies to scale well for more and more users,” said Derek Leung.

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