Ethereum Blockchain And Bitcoin Will Be Used By Factom
Over the year, there is lots of attention grabbed by the Factom project. It is exciting to use the blockchain technology outside the financial sector. The team of the project is working on anchoring the sensitive data into the blockchain. However, there will be both the Bitcoin and Ethereum blockchains used by them to do so with the help of a feature known as M2.
According to the most people, the Factom will only for the BTC blockchain. It is one of the most secure of all the blockchains present today, but the company doesn’t want to put all their money on a single thing. They will ensure the data to be secured all the time by integrating the Ethereum blockchain along with the bitcoin. In addition to this, the decentralized characteristics will also be increased of the whole project due to this.
Ethereum Blockchain will be embraced by the Factom
It is due to a feature known as M2, due to which all of this made possible. All the data in the network will be organized by the Factom into the Chain and Enteries. Entries will store the data of the users, whereas the Chain associates entries will be stored by the other one. There will be entry blocks in every chain out of which new ones will be generated after every 10 minutes.
It is turning out to be a great development for both the Ethereum and Factom. The Ethereum blockchain has been explored by the several companies for the different purposes. The native currency of the Factom will be used to secure all the information on the supported blockchains. Over the past few weeks, the price of the tokens has been increasing steadily. As the things are lookings, the exciting time is coming for Factom moving ahead.