MIT Expo Spotlights Bitcoin Tech Concerns

“We don’t have a set foundation to build on yet.”

That’s how Neha Narula, director of research at MIT’s Digital Currency Initiative (DCI), characterized her institution’s outlook on progress (or lack thereof) in the blockchain industry at the fourth annual MIT Bitcoin Expo this week.

Hosted by the student-run MIT Bitcoin Club, the two-day event served to highlight both the scope of the ongoing work at the university, and the difficulties and challenges being faced by the global developer groups seeking to popularize the technology for wider use.

Narula told the audience:

“[Blockchain technology] has the potential to affect billions of people … but we also think we are at the very early stages of figuring out what is going on. We are still doing the groundwork. We are defining the layers of the tech stack, and as a consequence, the protocols are still shifting and changing.”

Some of those changes were visible at the conference, where several discussions focused on the all-too-familiar themes of how to scale the bitcoin blockchain while keeping the protocol secure.

So far, the question of how to increase bitcoin’s throughput (right now digital currency only handles around seven transactions per second) has divided the community. Some

Read more ... source: CoinDesk

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