Social media giant Facebook is growing its blockchain efforts by hiring staffers from Chainspace, the startup behind a smart contracts platform.
The news of the hires â first reported by Cheddar â demonstrates that the social media company is moving ahead with its blockchain ambitions, which were first revealed last May with the announcement of a new, dedicated blockchain unit.
The researchers behind Chainspace may be well suited to help Facebook scale blockchain across a range of applications. According to its website, Chainspace uses sharding â the process of breaking a database into smaller units â to alleviate the scaling problems faced by blockchain networks.
Four out of the five researchers behind the academic paper on which Chainspace is based will be joining Facebook, according to Cheddar. A Facebook spokesperson confirmed to CoinDesk that the startup itself or its technology werenât acquired, but that some of its staffers had joined Facebookâs internal blockchain group.
âLike many other companies, Facebook is exploring ways to leverage the power of blockchain technology,â Facebook said in a statement. âThis new small team is exploring many different applications. We donât have anything further to share.â
The social media giant is currently hiring for 11 blockchain roles, according to Facebookâs careers site. Thatâs up from five last December. According to job-description boilerplate, Facebookâs blockchain team operates as âa startup within Facebook,â adding:
âOur ultimate goal is to help billions of people with access to things they donât have now â that could be things like healthcare, equitable financial services, or new ways to save or share information.â
The Chainspace website currently lists 11 staffers and four advisors on its team page. Currently sitting atop the siteâs homepage is a message teasing Mondayâs news: âWeâre excited to announce that the team is moving on to something new.â
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