What is Factom Coin(FCT)? Learn about Factom coin

Founders: Paul Snow and Davis Johnston

Release date: May 31, 2015

Circulating Current Supply: 8,745,102 FCT

Current price: $25.57/FCT

Rank: 83

Market Cap: $223,596,517 or 27,363 BTC

Total 24h trading volume: $6,823,090.

Trading platform:

FCT is the most traded on Bit-Z (FCT/BTC accounted for 71.36%) Poloniex (FCT/BTC accounted for 15.45% ) Bittrex (FCT/BTC accounted for 10.55%), Upbit….

FCT price history since listing.

On October 6, 2015 FCT was trading for $0.210281 / 1FCT until January 19, 2018 its price was up to $ 78.37 / 1FCT

What is Factom?

Factom (FCT) is an open source data layer protocol on top of Bitcoin that allows developers to create applications on the Bitcoin Blockchain technology. The tokens of the cryptocurrency belonging to the Factiom network are called Factoids. The key feature of Factom is that it makes the records uneditable – an immutable ledger system.

Businesses and governments can also use Factom to store their information so that it cannot be modified, deleted or backdated. Factom Coin technology decentralizes record keeping by ensuring that all data stored remains intact, providing complete transparency, while maintaining user privacy in a world-class environment. increasingly digital.

If your application needs a central server to coordinate processes, you can eliminate the central server to use Factom. Unlike most databases, the blockchain is distributed over the Internet, making it impossible to shut down. While the Bitcoin blockchain is a record of financial transactions, Factom is designed to store any type of data. This makes Factom the ideal platform for a wide range of applications, including financial systems, medical records, supply chain management, voting systems, asset ownership, legal applications and more and more.

What are Factoids?

Factoid is the underlying token that allows you to hash something into the Factom network. Initial supply will be determined by the number of Factoids sold during the software sale. Factoids are used as an anti-spam technique, as you purchase entry credits with your tokens allowing you to perform an action with Factom.

You can use Factoids to purchase Entry Credits with one simple transaction. The protocol does the conversion so you effectively buy the input credits from the protocol. You assign input credits to the public key and are then non-transferable.

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According to tapchibitcoin.vn

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