Factom (FCT) - Data Integrity Protocol
Who uses it?
The Factom® Protocol is Blockchain-based technology utilized by the U.S. Department of Homeland Security and Melinda Gates Foundation (Bill Gates' Wife's project).
With a limited supply of 9-Million units, if the source of this digital currency is already running out but the steady amount of utilization will then create scarcity in the future. Therefore the price of this promising digital asset would soar high.
Since Y2016, Factom (FCT) is best being paired with Bitcoin either on Poloniex or Bittrex. It gained much profitability to all its buyers during the whole two-year period of 2016 and 2017. I was able to SELL the acquired Factom that I've got from EoBOT and also from my trading activities during those years. Please look at the small spikes along with the three major bubbles that Factom has shown from this chart taken from coinmarketcap.
But during this time, we all know that the price of BTC is still low versus USD. Imagine to have kept your BTC from all gains you get exchanging FCT during this period.
Or what we could have waited for its actual price in USD to soar high for around $70 which stayed very high for quite some time and even reaching its all time high of $87.16 last January 07, 2018.
At the moment, it's real-time value is
Today, the price has already been corrected and already stable with both BTC and USD (Tether) pairing.
What is Factom (FCT)
As a pure data blockchain protocol, the use cases are limitless. Let's say for example a business which is a leading provider of residential loan default software and marketing solutions of a country's top mortgage servicers, real estate agents and vendors, The factom Protocol can be utilized to revolutionize the mortgage industry.
Two-Token System: A Factom Protocol
The Factom Protocol is two token mint and burn system. The Factoid (FCT) is the Market-Traded Token. and the Entry Credits (EC) is the fixed cost and non-transferable tokens that allow you to enter data into the protocol. EC is cost one tenth of a cent each and can only be generated by burning Factoids (FCT).
If Factoids are One Dollar and you burn one, you get 1,000 EC. If Factoid is $10 and you burn one, you receive 10,000 EC.
Fixed costs enable us to effective budgeting in Fiat as well us subscription models where customers don't need to HODL and handle cryptocurrency as the system does it in the background.
Therefore the Factom Protocol's two token system allows businesses to budget their usage while still allowing the network to scale as usage increases. These are the edge of an organization utilizing this protocol.
The value of FCT will increase the more Factom Protocol is utilized, Companies or even Governements can effectively allocate the data onto the protocol based upon their forecasted usage, The subscription systems can also be set up with Third-parties where companies and governments don't have to hold cryptocurrency if they don't want to or because of compliance reasons or conflict of interest agreement.
Empowering Business and even the Government
By using the blockchain technology, the Factom Protocol solves data integrity as it enables efficient, immutable publication, and verification to all parties.
This enables developers to build open source technologies and infrastructures. This also ensures cost stability and ease of integration with existing system.
Factom Asset Protocol (FAT). This enables fixed cost transactions and the cheapest token issuance in the industry. This means that FAT has substantially lowered transactions and and issuance cost than that of Etherium Tokens with similar features and speed. Not only our currencies and security tokens available but extremely efficient non-fungible tokens as well. That means you can tokenize anything from Real-Estate to Equities to digital assets on the factom protocol.
Other features of the Factom Protocol includes
- Voting Protocols
- Smart contracts
- Identity Solutions
For more information on other technical aspects for developers to check as it includes Authority Node Operators, Committees and Working Groups, Grants and a lot more, please check this link out. Factom Latest Announcements
This blog is meant to be seen by Factom (FCT) developers to invite them in creating a publish0x account and promote their program with other developers, investors, content creators and our cryptocurrency-active readers here on this amazing blogging platform.
For FCT holders to share their amazing experience using the cryptocurrency for peer2peer payments and pairing it to BTC either in Bittrex or Poloniex. Be proud to say you are also one of the many who were able to feel the triumph after a long wait of the HODL or even the profitability you gained doing a Day-Trade last Y2016 up to Y2017.
Here in Publish0x, here is our aim to be of service to Platform Developers and make their updates be seen by a lot of readers and your fellow platform developers here.
Screenshot taken from Factom (FCT) website and inserted the Publish0x logo as my main goal for you to consider promoting anything here.
Here is Factom (FCT) website:
For really more in-depth information, here are the useful links to visit
This is Fycee, thank you so much for dropping by and checking my write-up about Factom (FCT).
Disclaimer: I am not a Financial Advisor and this is just sharing significant information for you to know about this cryptocurrency just like how I was able to get aware of it based on my experience holding and trading this coin. I am proud to share that I have known this digital asset because of EoBOT and already mined a handful of units of this amazing cryptocurrency. Please perform your own due diligence when making an investment. Cryptocurrencies are highly volatile and involves high-risk.
If you have also experienced the same thing trading this currency, neither a negative feed-back please do not hesitate to post it in the comments section. Thank you for the support you are giving me.
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