Facebook has bought smart contracts start-up Chainspace. The deal is the company’s first blockchain-related purchase and analysts predicted Chainspace’s technology could help Facebook launch a rumoured WhatsApp cryptocurrency. Using a technique called sharding, Chainspace can accelerate transactions to a speed faster than ethereum, which is also working on a sharding approach to speed up deals. We can only speculate. Blockchain tech may be used by banks as well as startups in order to cut costs and increase efficiency.
Facebook has bought smart contracts start-up Chainspace. The deal is the company’s first blockchain-related purchase and analysts predicted Chainspace’s technology could help Facebook launch a rumoured WhatsApp cryptocurrency. Using a technique called sharding, Chainspace can accelerate transactions to a speed faster than ethereum, which is also working on a sharding approach to speed up deals. Blockchain tech may be used by banks as well as startups in order to cut costs and increase efficiency.