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Factom Review

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Revainrating 4 out of 5  
Rating 
3.8
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Description of Factom

Factom (FCT) is a cryptocurrency . Factom has a current supply of 10,462,234.54933749. The last known price of Factom is 0.67281589 USD and is down -1.86 over the last 24 hours. It is currently trading on 3 active market(s) with $0.00 traded over the last 24 hours. More information can be found at https://www.factomprotocol.org.

Reviews

Global ratings 15
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Type of review

Revainrating 4 out of 5

Factom aims to design and create effective interventions that help.

The Factom blockchain is an open source project to ensure transparency and security for people, organizations, governments and large organizations to ensure transparency and security. There are job openings and satellite jobs in California, Shanghai, Beijing and London. This blockchain makes it easier and cheaper for data storage organizations. This is an extraordinary convention that allows for faster and safer measures. Unlike various stages, it has a single hash. A task that allows you to…

Pros
  • For organizations.
  • It aims to reduce misinformation and looting, which is the most important issue.
  • The future is wonderful and the guide is extraordinary.
  • The position has more important financial backers, which gives it more attractive job confidence.
Cons
  • You have to embrace the fact.
  • The hubs have a ton of power.

Revainrating 4 out of 5

About Factom (FCT)

Factom; It is a blockchain protocol that separates the immutability of blockchain technology from the currencies usually associated with it. This makes it easier and cheaper for businesses to store data on the blockchain. It tries to solve the three main problems seen in the real Bitcoin network: speed, cost, and bloat. In addition, documents and data stored using Factom can be easily audited. This further reduces the cost required for businesses to have a secure and accurate data…

Pros
  • FCT has its own crypto ecosystem known as the Factoid. This token is used to purchase Login Credits for services offered by the platform. It is noteworthy that these Login Credits were purchased from the Project protocol itself, eliminating the need for Intermediary solutions.
  • future is bright and roadmap is amazing
  • The project also focuses heavily on quality control by removing documentation errors. In addition, products can streamline the due diligence department, particularly the process of finalizing mergers and acquisitions. It is certainly possible to host a digital identity based project on top of FCT.
Cons
  • not listed in most exchanges

Revainrating 4 out of 5

My thoughts and review about Factom.

Factom applications build layers on top of Bitcoin transactions, which is done via the use of cutting-edge technology. The directory layer is a layer of defense applied at the highest level. This system was built in order to implement the Merkle Root of the Entry Blocks. The Entry Block Layer tracks data entries as reference nodes. This file stores a list of Entries with detailed information about them, which makes finding the Entries simple. Informative answer: The input data that is accepted…

Pros
  • Process for recording transactions is much more efficient.
  • It generates a single hash value.
  • It is not focused on a single sector.
Cons
  • None.

Revainrating 4 out of 5

FACTOM, keep data that can never be changed to ensure reliability.

Factom is building a center innovation that allows people to easily integrate with information, do better research and make better choices. Connects to your current devices with Factom innovation, which can be sent quickly and configured to any domain. Now, like many other types of money, you can try to fix some of the issues related to basic blockchain frameworks and cryptographic forms of money. Factom is also looking forward to addressing issues related to the speed and cost of operations…

Pros
  • FCT has its own crypto-biological system called Factoid. This note is used to purchase Entry Credits for administration offered by the stage.
Cons
  • No problems

Revainrating 3 out of 5

Factom: mass storage tool for organizations

Both to keep important personal and corporate documents safe, as well as for reasons of order, security and comfort, resorting to digital storage resources is currently a necessity, since we live exposed to theft, loss and malicious manipulation of our files and papers. important, on a recurring basis. In this sense, the Factom platform offers a platform that provides you with a reliable scenario to save files and digital content, at low cost and with the security provided by blockchain…

Pros
  • Provides a reliable storage mechanism
  • Offers an inexpensive digital resource for storing documents
  • Allows easy auditing of documents archived in the chain
  • Permanently records digital files in the global distributed ledger
Cons
  • No disadvantages

Revainrating 4 out of 5

Factom review 2021

Factom is a block chain as well as an open source project which enables individuals, enterprises, government and large business, to package and store data using bitcoin block chain to ensure transparency as well as safety of the data. This is essential as botcoin block chain lays a decentralized system where data saved are immutable. The factom became essential to transfer large data privately which was originally meant to make rail payments for sending transactions from one location to an…

Pros
  • It aim in reducing forgery and counterfeiting which is a very contemporary issues now
  • It is a fully functional and operational project currently.
  • It is backed by us security department
Cons
  • I see nothing wrong with the project

Revainrating 3 out of 5

The Factom project is a project that supports farmers.

There are many cryptocurrency projects in the world and they are very useful for people by offering various services to their people and making it easier for their users to save time. The project I will be presenting today is the Factom cryptocurrency project. This project is a blockchain protocol that removes blockchain technology from any Unchanged and usually closely related currencies. In this project, it is convenient to keep the data in a blockchain cheap and easy for different…

Pros
  • The project blockchain is easier and cheaper to maintain.
  • The Factom project solves various problems facing the cryptocurrency world.
Cons
  • I didn’t see the downside to the project.

Revainrating 4 out of 5

Factom Cryptocurrency Project

Factom is a blockchain protocol that separates the immutability of blockchain technology from the currencies that are usually associated with it. What this means in effect is that, it is easier for businesses can store their data on the blockchain easily and more cheaper. Now like many other cryptocurrencies we have lying that try to fix some of the issues of already popular blockchain systems and cryptocurrencies. Factom too intends to fix problems such as speed and cost of transactions.…

Pros
  • Factom addresses some of the problems such as speed and cost of transactions
  • FCT has a solid price on the market, and this means that it can be invested in
  • Factom partners with some really solid organizations
  • Data record storage without malicious tampering
Cons
  • Factom needs Mass adoption

Revainrating 4 out of 5

Factom: es un proyecto que permite la separación dinámica de la cadena de bloque.

Factom (FCT): is a project that allows the dynamic separation and reorganization of the blockchain in an automatic way, in order to be able to generalize the blocks in a more precise way, that raises the level of security in the creation of the contents and allows a greater storage of the commercial assets with a high level in the encryption of information, Its ecosystem of operation allows to solve the most common problems that are presented in the platforms, greater efficiency in the data…

Pros
  • Its blockchain can transform information very accurately, and the creation of your block is completed in less than 45 seconds.
  • It has a very solid commercial offer, facing a very tough market to deal with, its system allows a free transfer of information at all times.
  • It has key investors in its project, which allows for greater commercial confidence.
Cons
  • It was a project that had some start up problems.
  • It has a lot of market competition, since it offers very important services for any company, and if it does not improve its commercial strategy it will be left behind.

Revainrating 4 out of 5

A completely decentralized system.

It provides the user with a fast transaction recording process. This is a dedicated protocol that allows for faster and more secure transactions. Unlike other platforms it creates a single hash. This ensures that the network is deprived of blossoming by making a rapid addition to the layer.

Pros
  • It comes with its own set of benefits that give the cryptocurrency platform an edge over its competitors. It is a completely decentralized system of maintaining an account for all types of digital assets, not just currency values. For example Bitcoin Network only stores financial data. Factom, on the other hand, can store all types of data.
Cons
  • It is not fully saturated and history supports it to support further investment.

Revainrating 4 out of 5

FACTOM, store data that can never be altered in order to guarantee an irrefutable authenticity.

Factom is a protocol that separates the immutability of blockchain technology from the parts that are generally linked to this blockchain. This makes things easier and less expensive for companies that want to store data on the blockchain. Factom is also trying to solve 3 problems that the Bitcoin network encounters (The speed of transactions, The cost, The maximum number of transactions per second). In addition, documents and data stored using Factom can be easily audited. Factom is…

Pros
  • The company already has a functional product and it is already used by many people.
  • Storing data on the blockchain offers a guarantee of non-falsifiable authenticity to documents that need it.
  • The cost of storing sensitive data is much lower than traditional solutions.
  • Ability to find the desired information without having to browse the entire bitcoin blockchain.
  • The partnerships we have forged are excellent: the American border guards and the Bill Gates foundation. In addition, a Chinese court of law rendered a judgment by collecting information stored via Factom.
  • The Factom database currently contains more than 11 million different documents.
Cons
  • NEM is a competitor that should not be taken lightly, its market cap being much higher than that of Factom. However, the NEM foundation having recently declared that it is short of funds to finance development, Factom seems without any real competitor at present.

Revainrating 4 out of 5

Another one for companies.

- Decentralized protocol for independent storage of authenticity evidance. You can integrate your system your database to secure them from copiyng. This means user can store their documents there and hash of this documents will be on factom bolckchain - Every 10 min. factom blockchain is anchored to the biggest crypto BTC. - Every month over 73 000 are added they are designed to funding factom. 10% inflacion. There is no max supply. - Factom is mostly speculation coin however it's used for

Pros
  • Nodes
  • Auditing nodes
  • Every 10 min anchored to BTC
  • For companies
  • Product is working
  • Kuala Innovations invested 400 000 usd
  • 199 000 usd as a donation from USA department of security
Cons
  • Nodes have a lot of power (maybe too much)
  • Inflacion
  • factom token use case is not key

Revainrating 3 out of 5

Factom is committed to creating and developing successful solutions that help…

Factom is committed to creating and developing successful solutions that help their clients. They want to make record storage safer than it currently is and wants businesses to recognize how revolutionary the practice of storing information on the blockchain truly is. Factom is a project with a lot of potential along with many real-world use cases. There are many significant problems that Factom could address in regards to trust, data, manipulation, and immutability.

Pros
  • Factom has the ability to function on multiple servers, which allows for the execution of the protocol across several platforms, which helps to make the solution decentralized. No risk of hacking since it’s not a typical digital currency. Fatcom uses Bitcoin, arguably the most trusted blockchain, to verify its databases. Backed by the Coinsilium global blockchain accelerator.
Cons
  • -Isn’t as involved on social media as other higher ranking cryptocurrencies. -Not considered a well-known or “exciting” cryptocurrency. -Factom might be ahead of its time as most of the world doesn’t yet know about its capabilities.

Revainrating 4 out of 5

Blockchain startup Factom began between developer Paul Snow and blockchain…

Blockchain startup Factom began between developer Paul Snow and blockchain entrepreneur David Johnston in January 2014. Today Factom has 26 employees, with headquarters in Austin (Tex.), and satellite offices in Sunnyvale (Calif.), Shanghai, Beijing, and London. 75% of its clients are international, and more than 6.5 million entries have been secured with the network so far. Summarily, Factom helps ensure data integrity. The Factom network does this by allowing hashes of large amounts of data…

Pros
  • If successful in its ambitions, Factom could become a ubiquitous protocol layer in an increasingly digitized world. Important partnership (beginning 2018): SoftStone (to integrate blockchain tech and smart city solutions for several regions in China), Ancun (to integrate Factom’s blockchain tech with Ancun’s electronic data notarization services), Rongdu Technology (to provide a blockchain backend for Rongdu’s existing fintech software), SmartContract (to give Bitcoin and Ethereum smart contract developers access to Factom data), and DataYes and Intrinio (to verify and audit data from the U.S. and Chinese financial markets, respectively). On Nov. 2016, the Bill & Melinda Gates Foundation announced they had awarded Factom a $500,000 grant “to build a Proof of Concept prototype of a digitized medical record system for individuals living in remote developing areas of the world. Factom’s developers were working on M2, which sets in place the consensus algorithm for the Factom protocol—the software supporting distributed processing—as well as enables transaction times in a matter of seconds, supports multiple blockchains including Bitcoin and Ethereum, and provides a more robust network, as well as new tools in its development suite/public testnet. Milestone 2 (what we call Factom Federation) provides the ability to run the Factom protocol over many different servers. Our goal is to distribute the execution of the protocol over servers run by many different parties.
Cons
  • A lot of relationships and partnership are under non-disclosure agreements at the moment so we can't know real technical features and developments.

Revainrating 4 out of 5

Very good project, which BTW existed long before many blockchain projects…

Very good project, which BTW existed long before many blockchain projects. Gread idea of blockchain implemention, easy and fast access to business records, and also a safe way to keep the data. No doubt that in the future businesses will start using blockchain to keep and save their data on it. Factom was the first project that suggested it.

Pros
  • 1. Immutable business records. It means that no business record or document could ever be changed or deleted, and also cannot be fabricated - that means less corruption and more honesty. 2. Fast and easy access to documents. No need to dig through all the archives of paperwork in order to find some document. Any business record at your fingertips. 3. More "green" business. No paper would be wasted just to make some invaulable record and then burn it.
Cons
  • 1. Is it centralised? On CMC there said that FCT is a coin, but I doubt it. It's more of a token, cause you can't mine it. And seems to me it can only be produced on Factom, so that's make it less decentralised. 2. Conservative businesses won't go for it. Cause they would be afraid of a scary word "cryptocurrency".