Facebook has announced its first blockchain-related acquisition with ChainSpace, a blockchain startup, as a part of its plan to expand the blockchain team. The startup was founded by scholars from the University College London, that handled issues related to blockchain scalability by providing sharding solutions that enable fragmentation of power for higher transaction speeds.

The acquisition has taken place with the main focus on the skills and expertise of Chainspace staff, rather than its technologies or services. As per the acquisition, Facebook has hired four researchers from ChainSpace’s team who worked on its academic whitepaper.

Earlier in 2018, Facebook had announced five new blockchain-related positions for its headquarter branch in Menlo Park, California. It included two software engineer roles, one data scientist position, and one data engineer.