18.12.2018 17:09

Factom

FCT

$9.89

arrow_downward -1.64%

0.002774 BTC

Market Cap:

$86 448 921

Circulating Supply:

8 745 102 FCT

Max Supply:

0 FCT

About Factom

Factom is a cryptocurrency that has recently appeared in virtual space. Despite its youth, a new kind of digital currency has already managed to gain the necessary popularity among users. It was developed and is based on the Factom platform used to conduct operations on blockchain technology. This cryptocurrency represents blocks of encrypted information obtained by performing computational processes with the help of special software. Thus, it can not be faked. The Factom project was launched in 2015, whose goal was to increase the standard block size in the blockchain system - 1 MB. Factom is designed to solve this problem by using the sidechains, which create the so-called information layer. The task of the information layer is to create the necessary hash code that will link the original block with all the additions that are attached to it, which are not limited in size. Thus, it is possible to maintain the network structure, improving the storage and data transfer capabilities. Factom allows solving the shortcomings of bitcoin linked to slowness, the complexity of mining and problems in conducting transactions. The most important advantage of the presented digital currency is the use of a decentralized database of data storage. The recording of information is performed on a variety of servers in different parts of the world. After saving a certain part of the data, a hash is generated. Each next segment of information is recorded on a new server with the formation of its hash number. At the end of the database formation process, a common hash is created, which is attached to the data block in the blockchain system. It searches for all available segments. Thus, decentralized storage of information is the best system to protect against theft of data. If you want to know the latest information about Factom, visit its telegram account @FactomFCT

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