Factom is one of the foremost promising long-run cryptocurrencies within the house without delay however it doesn’t get any of the promotional material that currencies like modern, the rebranded version of Antshares, and OmiseGo have at the instant. this is often partially because of the dearth of promoting by Factom opposition., the corporate that builds its blockchain software package, and conjointly as a result of its somewhat uninteresting compared to cryptocurrency debit cards and good economy platforms. however don’t be fooled, Factom is one the foremost helpful blockchain tools with monumental potential for growth.
What is Factom and Why should I care?
The Factom Blockchain desires to merge the safety of the Bitcoin blockchain with the convenience of storing information that can’t be changed. Factom secures information for personal and public organizations by publication encrypted information or a cryptographically distinctive fingerprint of the info to Factom’s immutable, distributed Blockchain. Factom is blockchain agnostic, that is to mention that it will be anchored into whichever blockchain it desires to produce even a lot of reliableness. moreover, it aims to create a system that will support high volumes of knowledge inexpensively and it’s this feature that differentiates factors from alternative blockchains.
In a world rife with faux news and simply modifiable laptop records, Factom’s service goes to be terribly valuable as a result of it permits folks and businesses to use a mathematically demonstrable “notarization” service. Factom has already secured big-name partnerships with the consulting company iSoftStone besides grants for giant players. Factom was given $199,000 by the United States Department of an independent agency to advance the safety of digital identity for the web of Things.
it’s received a $500,000 grant from the Bill & Melinda Gates Foundation to create a signal of thought epitome of a digitized medical history system for people living in remote developing areas of the globe. Facto ids, that area unit the tokens employed by the Factom blockchain to manage payments, remained below the $4 vary from its origination till Apr 2017 before peaking at $33 in Gregorian calendar month 2017.
At the time of publication of this text, Factom (FCT) was priced at $24 with a capitalization of $212,776,202, creating it the thirty-fourth most useful cryptocurrency in terms of market cap.