Inside Vault: MIT’s New Protocol that can Power Cryptocurrencies 99% More Efficient than Bitcoin

One of the main barrier of adoption for cryptocurrencies are the increasing costs of processing transactions and joining a network over time. Decentralized cryptocurrencies rely on different participants to validate the state of the network in order to successfully process transactions.

As a network grows, the process of downloading and process a copy of the ledger becomes a computationally expensive exercise which costs result prohibited for many nodes. Recently, researchers from the Massachusetts Institute of Technology(MIT) Computer Science and Artificial Intelligence Laboratory(CSAIL) unveiled Vault, a new cryptocurrency that reduces the data users need to join the network and verify transactions by up to 99% compared to today’s cryptocurrencies.

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