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Cryptocurrencies

University of Sydney to develop blockchain technology

Monday 3 July 2017 | 12:54 PM CET

Researchers at the University of Sydney (USYD) have built a new blockchain technology, called Red Belly Blockchain aiming to allow digital transfer of virtual currencies across the world.

According to USYD, the Red Belly Blockchain is designed to work both in public and private contexts, allowing the exchange to occur in a peer-to-peer fashion, as well as in an industrial environment restricted to certain users.

The next stage for the Red Belly Blockchain is to develop a recommendation system to automate the selection of the participants of a consensus instance, which USYD hopes will ensure the security of the blockchain.

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