Factom plans to join the Ethereum blockchain

Rage Comment : For Factom, choosing more blockchains can make information more secure. After all, there is a certain uncertainty in the expansion of the Bitcoin blockchain. In fact, the diversification of anchored blockchains can also give more choices to customers with different needs. In my communication with Factom related people, they also said that they will consider incorporating more blockchains into the Factom system in the future, including private chains. With the rapid development of blockchain technology, we can find that the entire ecosystem has become more diverse.

Translation: Annie Xu

Reddit launched a discussion about the scale and scalability of the Bitcoin blockchain. Although there are many solutions to the shortcomings of the Bitcoin blockchain, there are still rumors that Factom will switch to other blockchains. In fact, Factom also plans to join the Ethereum blockchain, and its future development is exciting.

Factom’s clear blockchain development direction

There are a few things to be clear about Factom’s announcement. First, the company has not given up on using the Bitcoin blockchain as a distribution platform. Despite the Bitcoin blockchain’s scalability and scale issues, it has always been part of Factom’s research and development efforts.

Of course, Factom is still very clear that there are better technical solutions on the market now, which can make the company's services more diversified. Brian Deery mentioned in a Reddit announcement that Factom will choose the right time to join Ethereum and its blockchain. However, the specific date has not been announced or confirmed.

Once this collaboration is successful, any application based on the Ethereum blockchain can use the Factom consensus mechanism without seeing any information on the Bitcoin blockchain. This approach integrates all multi-functional blockchain solutions and increases the decentralized nature of Factom, which is of course a good thing.

Moreover, there is one thing that everyone must understand. The purpose of Factom's creation is to solve the blockchain scale problem in the Bitcoin industry. Although the market has maintained a positive attitude towards blockchain in the past few years, this has not prevented the existence of a crisis. Previously, many industry experts have predicted that if effective measures are not taken, a crisis may occur.

The final conclusion is that Factom has actually been paying attention to the dynamics of Bitcoin and Ethereum, because they each have their own advantages and disadvantages. In the future, Factom, which integrates the two blockchains, will be multifunctional. Of course, despite the disadvantages, Factom will still stick to the Bitcoin blockchain.