Presentation and definition of the crypto-currency Factom (CTF)

Presentation and definition of the crypto-currency Factom (CTF)

  • Name of the crypto-currency : Factom
  • Abbreviation : CTF
  • Where to buy Factom ? Binance
  • Creation Date : September 2015
  • White paper of Factom
  • Web Site of Factom

The platform Factom

Factom is a platform for decentralized storage, which works with a blockchain secure. Any organization or business can store its data in a private manner on the blockchain. The innovation of Factom is based on the data layer created on the blockchain the Bitcoin. The technology of Factom lets you secure in real-time to millions of records on the blockchain. Organizations and enterprises can secure their documents and to ensure their integrity. The stored files remain intact, unaltered. Factom allows total transparency and a respect for privacy. The network Factom is not directed by a central organization but by its users. That is to say, that person can access the secure folders in the blockchain, except for the owner of the content. Anyone can use Factom and secure its own files.

The objective of Factom

Factom has been created to overcome some of the drawbacks of the blockchain the Bitcoin. In fact, the Bitcoin network is not capable of supporting a significant volume of transactions without there being an impact on the management fee. Factom provides a blockchain that can adapt to a large number of operations while offering reduced costs.

The tokens CTF

The network Factom uses its own chips, the Factoids (CTF). This money is used as a right of entry for companies to store and secure their documents in the blockchain.