Do you know that Factom (FCT) remains the premier usable blockchain technology for businesses? It comes into effect to resolve real-world business issues. Factom is able to resolve business issues by offering an unchangeable record-storage system. Factom is able to establish a data covering layer on the upper section of the bitcoin blockchain. With this concept, it is able to protect several records in the blockchain by using cryptographic isolation. Governments and organizations can make use of this system to document their data. This will help for deletion, modification and backdating. By making sure that the reputation of stored information remains intact, Factom’s technology can decentralize record keeping. This will help to achieve user privacy and provide full transparency in an increasingly digital industry. Is your quest for what is Factom (FCT)? Keep reading this content to find the true meaning of Factom.
Studies have revealed that the technology of Factom comes with a plethora of applications. This powerful technology has the capability to disrupt markets. It can as well turn management to mortgage and medical report storage complicationa. In every ten minutes, all data is entered into the blockchain. To prevent blockchain bloating, information is entered in a single transaction. Factom remains an amazing technology that immutably records information on the blockchain. Factom can as well heap mountains of information for future use.
With decentralized and distributed protocols, Factom can comfortably operate on the top of bitcoin. It implies that nobody will have the capability to control Factom. Factom remains software or a program that users across the globe can operate through its protocols. You are free to use the system for your own purpose since the technology is an open source. New generation of applications can be built by developers through the operation of Factom. All the transactions of the blockchain are stored in the bitcoin network.
Is your application using a central server to operate? Well, with Factom, you will be able to get rid of the central server and operate your application smoothly. Blockchain is spread through the internet unlike most databases. This will make the system to be practically unable to shut down. The bitcoin blockchain remains a medium for recording financial transactions. On the other hand, Factom (FCT) will help to store any kind of information with ease. For a wide range of applications, Factom remains a great platform to use. This includes legal applications, property titles, voting systems, supply chain management, medical record and financial systems.
