If there’s one thing Bitcoin doesn’t need, it’s to be more complicated. By adding a new data layer on top of the blockchain, some believe Factom to be doing just that, introducing features a small minority of the population will understand.
Their latest partnership with Netki is an attempt to address the issue. Most of Factom can run in the background out of sight, but Factom addresses are still around 70 characters long. Now they’ll be a simple username.
The Netki Wallet
Netki’s slogan is “Making Digital Currencies Human.” It lies on the outermost layer of the blockchain, where mainstream users reside. Instead of a long string of characters like Bitcoin, it lets you reserve alphanumeric usernames, which are easier to look up and send money to–they use wallet.TonyStark.bit as an example.
Netki uses the Namecoin blockchain to register names to Bitcoin addresses, as well as Litecoin and Doge. To protect your privacy, it generates a seed using an HD wallet, and generates a new address for every transaction. It also uses a system similar to SSL (the lock next to a URL at the top of your web