An interesting topic has bot raised on Reddit about how services using the Bitcoin blockchain feel about the ongoing block size and scalability issues. Albeit there are numerous solutions available to solve the Bitcoin blockchain issues, rumours are circulating of how Factom could stir to a different blockchain solution. Te fact, there seem to be concrete plans to anchor into the Ethereum blockchain spil well, which could be fairly interesting ter the future.
A Clear Blockchain Direction For Factom
There are a few things regarding this announcement by Factom that need to be made clear from the begin, however. Very first of all, there are absolutely no plans to druppel the Bitcoin blockchain spil a publishing podium by any means. Despite all of the issues going on with scalability and the Bitcoin block size, the blockchain will always remain an integral part of what Factom is attempting to accomplish.
That being said, the company is well aware there are other technological advancements te existence which could make their service more versatile. A latest postbode on Reddit by BrianDeery mentions how Factom has plans to anchor into Ethereum and its blockchain spil well, ter due time. No official dates have bot announced or confirmed spil of yet tho’.
When this integration happens, any application built on top of the Ethereum blockchain will be able to go after historical Factom overeenstemming, without witnessing anything on the Bitcoin blockchain. This parallel treatment to using all of the versatile blockchain solutions available brings more decentralization to the Factom project spil well, which can only be seen spil a positive thing.
Moreover, people need to keep te mind Factom wasgoed originally designed to alleviate the block size problems plaguing the Bitcoin industry right now. Despite all of the positive attention on blockchain technology overheen the past few years, the current depressie spil not averted, even however many industry experts predicted something like this would toebijten if the decent act wasgoed not taken.
Te conclusion, Factom is keeping an eye on what is happening te Bitcoin and Ethereum, spil both blockchains have their strengths and weaknesses. By anchoring into both blockchains overheen time, Factom will become more versatile ter the future. But it is also positive to see the company stick with the Bitcoin blockchain, despite all of the problems surrounding the technology right now.
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About The Author
JP Buntinx is a FinTech and Bitcoin enthusiast living ter Belgium. His passion for finance and technology made him one of the world’s leading freelance Bitcoin writers, and he aims to achieve the same level of respect te the FinTech sector.
Because PoS is totally secure buy PoW is untested.
Factom is indeed watching the happenings inbetween the bitcoin and ethereum.