Factom
| Last updated | 1 year ago |
| Price per FCT in USD | $ 0.6920786269323 |
| Price per FCT in Bitcoin | 0 |
| Volume over the last 24 hours | $ 0 |
| Market cap in USD | $ 7,240,689 |
| Change in % over the last hour | 0 |
| Change in % over the last 24 hours | 0 |
| Change in % over the last 7 days | -0.11873369 |
FCT specifications
| Name | Factom |
| Symbol | FCT |
| Minable | No |
| Algorithm | N/A |
| Prooftype | N/A |
Coin description
Factom is a blockchain protocol designed to store and manage data securely and immutably. It specializes in enterprise solutions, offering tools for recordkeeping, auditing, and supply chain management. Factom�s architecture separates data storage from the blockchain itself, allowing for high throughput and cost-effective operations. This design makes it suitable for handling large volumes of data without compromising performance.
Factom Enterprise Data Management Applications
The platform�s ability to anchor hashes of data onto the Bitcoin blockchain ensures long-term integrity and verifiability. Industries such as healthcare, real estate, and government have shown interest in Factom�s offerings, as they address challenges related to transparency, compliance, and efficiency. For example, hospitals can use Factom to securely store patient records, ensuring they remain unaltered and accessible only to authorized personnel.
Another advantage of Factom is its scalability. By decoupling data storage from the blockchain, Factom avoids the congestion issues faced by many traditional blockchain networks. This makes it ideal for organizations dealing with extensive datasets, such as financial institutions or logistics companies. With its focus on practical applications, Factom has positioned itself as a leader in enterprise-grade blockchain solutions, bridging the gap between legacy systems and modern decentralized technologies. Keywords like blockchain audit trails and supply chain transparency are closely associated with Factom.