"A Study Develops a New Protocol That Makes Cryptocurrency Transactions Faster and Safer"
Security and privacy researchers at TU Wien, together with the IMDEA Software Institute and Purdue University, have developed a protocol aimed at improving the security and speed of transactions in cryptocurrencies such as Bitcoin. Cryptocurrencies are continuing to grow in popularity due to the many advantages they offer over Mastercard or Visa. Cryptocurrency transactions are usually decentralized, anonymous, and global. However, there is still progress to be made in regards to security, privacy, and efficiency. The team's improved protocol considers problems associated with Bitcoin transactions, such as possible fraud, users' discovery of each other's confidential information, the limited number of transactions, and the occurrence of delays. This article continues to discuss the growing popularity of cryptocurrencies and the new protocol developed to make cryptocurrency transactions more secure and faster.