Factom Price & Charts


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Factom News

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  • Future of Factom July 14, 2018
    Is this coin worth investing in. The coin price is obviously at all time lows and would be a good buy in price for long term profits. I am losing money on factom right now, i bought in when the price was around $60. I just have no idea where this project is heading. I […]
    /u/jukitoyo
  • Factom Information and Discussion Thread #12 July 14, 2018
    Greetings Factom Community, Ask any question and offer your answers here. If you have any suggestions for additions to the below, please contact me. Governance Factom Governance Doc The first 21 Authority Nodes have been selected! The first seven Factom Protocol grants have been awarded - Added June 27th Community Discussion Want to chat with […]
    /u/DChapman77
  • Meet LUCIAP – A Factom ANO - Factombeat July 12, 2018
    submitted by /u/brooke-arthur [link] [comments]
    /u/brooke-arthur
  • Factom technical roadmap laid out by Factom Inc. July 10, 2018
    I have seen couple of people asking for a roadmap and what is to come from a technical point of view now that M3 is out. Factom Inc. has actually released a really detailed list of tasks they have planned for the development of the protocol as part of their grant proposal. I think it […]
    /u/jedixit
  • Factom Acolyte? July 9, 2018
    I just read a few articles that mentions a Factom product called Acolyte. This is the first I have heard of it. Could someone give a detailed description of it? submitted by /u/creekiedeekie [link] [comments]
    /u/creekiedeekie
  • An interview with Block Party. Another exciting company a part of the Factom Authority Set. July 9, 2018
    submitted by /u/777DanG777 [link] [comments]
    /u/777DanG777
  • ConfessionChain launches on ProductHunt! July 9, 2018
    https://www.producthunt.com/posts/confessionchain I'm very excited to share the public release of RewardChain's latest app. We built ConfessionChain to showcase how cheap and easy it is to enter data into Factom. We encrypt the confessions but display them decrypted on our site, through the Facto Explorer we built and an API we built that can interact with […]
    /u/FactomKiwi
  • can Factom get its name in this hat? perfect use. July 8, 2018
    submitted by /u/ChinookKing [link] [comments]
    /u/ChinookKing
  • Factom Price Prediction 2018 July 8, 2018
    submitted by /u/samair8 [link] [comments]
    /u/samair8
  • Factom Discussion and Information Thread #11 July 7, 2018
    Greetings Factom Community, Ask any question and offer your answers here. If you have any suggestions for additions to the below, please contact me. Governance Factom Governance Doc The first 21 Authority Nodes have been selected! The first seven Factom Protocol grants have been awarded - Added June 27th Community Discussion Want to chat with […]
    /u/DChapman77

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What Is Factom ?

Factom Coin is a new coin  that aims to use the blockchain for the most basic purpose that it can be used; keeping records. Blockchain technology has the ability to maintain and keep unadulterated records for lifetimes. The most important direct application of such a record keeping system is business itself. Factom has created a data layer on top of the bitcoin blockchain. By doing so, it has built the capacity to keep millions and millions of records in a distributed consensus-based system that cannot be adulterated.

Businesses, governments, universities and other record-keeping institutes can keep their data secure with the help of a single has using cryptographic isolation of the records. Businesses especially can use their record in such a way that it cannot be changed, backdated, etc in the future.

Its practical uses

The practical uses of the Factom coin have already been discussed before. They heavily involved businesses and governments and their record-keeping initiatives. Now the factom network operates on an open-source software that everyone can operate. It even allows the user to program on it and develop new applications for the future of the record keeping initiatives on the blockchain. This will allow you to use it for any purpose that you feel like doing and promote more and more uses of the ingenious platform.

Factom’s transactions are stored on the Bitcoin network and since Factom can be programmed like Ethereum, it is the first approach that uses the bitcoin network itself for programmable initiatives. Factom wants to make the world’s system honest by decentralizing databases.

If your database is centralized and is vulnerable because of it, you can easily shift towards the Factom coin and use its decentralized record-keeping on offer. It can be used for medical records, scoring sheets for sports, historical data, scientific data, supply chain information and what not in itself.

Team

Peter Kirkby- President

Paul Snow-CEO

Brian Deery-Chief Scientist

Zachary Lynde-CFO

Zeen Zhang- China General Manager

Mining

The Factom coin cannot be mined because it is based on the Bitcoin Network and its history cannot be different from bitcoin itself. It is a mixture of proof of publication, proof of process and proof of audit.

Notes for Investors

The Factom coin was started back in January 2016 and its price has increased from $0.12 to a whopping $207 at the time of this article showing a volatile but ultimately positive trend. Its market cap is around $207 million. It is a very intriguing prospect for the future.