Factom is a distributed, autonomous layer built on top of the Bitcoin blockchain offering the possibility for Institutions that are naturally unfriendly to digital currency to start using it without even having to deal with cryptocurrency. Entry Credits and Factoids are the foundation of this secure two-layered system as they represent two parts of the same piece but with different purposes ... Factom’s launch date was October 5th, 2015. Factom’s total supply is 9,420,181 coins. The official website for Factom is factom.org.The Reddit community for Factom is /r/factom and the currency’s Github account can be viewed here.Factom’s official Twitter account is @factom and its Facebook page is accessible here.. According to CryptoCompare, “Will Factoids have their own blockchain? Factom’s cryptocurrency tokens are called Factoids and has the following symbol: FCT. How does the Factom’s platform work? The beginning of Factom’s platform is based on Bitcoin blockchain. The team has separated it in two parts: the blockchain itself and the cryptocurrency. They took the blockchain part and designed on that model an innovative protocol. Due to this step, the Factom ... Factoids are included into the protocol to completely decentralize Factom, and to reduce bloat and spam in both Factom and Bitcoin. Factoids can be converted to Entry Credits in the protocol, and paid out to Factom servers from the protocol. They also help to bind consensus. The conversion of a Factoid to Entry Credits is done via a special purchase transaction on the Factoid Chain. What are Factoids? Factom has their own tokens which are called Factoids (FCT). Factoids remain on Factom’s blockchain. They are traded like any other cryptocurrency in the market. The FCT initially cost about 12 cents and are currently trading at about $25 per FCT with and all-time-high of $33. There are 8,753,219 factoids in existence, which were created in an ICO (Initial Coin Offering ... Factom is a cryptocurrency that works on data integrity. It uses Blockchain technology so that it is more secure and cannot be a sale, stolen and hack data by any hacker or person. Factom is working on the top of the Bitcoin’s Blockchain. Factom cryptocurrency creators predict the main difficulties of the functioning of digital Currency in 2015, and they successfully implemented the ... Factom price today is $1.08 USD with a 24-hour trading volume of $27,137.93 USD. Factom is up 6.40% in the last 24 hours. The current CoinMarketCap ranking is #497, with a market cap of $10,242,490 USD. It has a circulating supply of 9,444,475 FCT coins and the max. supply is not available. The top exchanges for trading in Factom are currently What Is Factom? Factom is a blockchain protocol that separates the immutability of blockchain technology from the currencies that are usually associated with it. This makes it easier and cheaper for businesses to store data on the blockchain. Factom attempts to solve three main problems seen in the Bitcoin network:. Speed – Bitcoin transactions take at least 10 minutes for a single confirmation.
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