What Makes Factom Coin So Great?
What Makes Factom Coin So Great?
Factom coin is an open-source cryptocurrency based on the blockchain model. The project was launched in 2014 by Peter Kirby. it had been incorporated with an advanced technology to separate the Bitcoin blockchain and use it for tough tasks to build a secure and immutable platform."What Makes Factom Coin So Great?"
Factom’s scope is “to create, design and build products to make the world more transparent and honest”. The platform solves the problems from the past and creates software to predict those from the long run. The team behind the project is an experienced one. The CEO assures users they have the best developers because innovation is an important issue for Factom’s developing.
The platform is decentralized and scalable. you are charged with a small fee for participating in Factom’s network because there are huge costs for the company to make always new integrations.
Factom’s cryptocurrency tokens are referred to as Factoids and have the following symbol: FCT.
How does the Factom’s platform work?
The beginning of Factom’s platform is predicated on Bitcoin blockchain. The team has separated it in 2 parts: the blockchain itself and also the cryptocurrency. They took the blockchain part and designed on that model an innovative protocol. due to this step, the Factom allows individuals create their own applications.
Factom uses hash technology for their network. This one allows modifying any of the digital media like videos or documents into a specific alphanumeric algorithm. You can’t reverse your actions using Factom’s platform once they're proceeded.
To check the functionality of Factom’s platform the corporate uses 3 protocols: Proof-of-Existence, Proof-of-Process, and Proof-of-Audit. everyone can use the network to make hashes. the method is being secured and assure there's no extra-costs for users. Even the Bitcoin blockchain isn’t active, users can process their information due to the audit protocol.
How you can buy Factoids tokens?
The easiest way to buy Factoids tokens is exchanging them from altcoins. For this we suggest you use the Poloniex, Changelly, Bittrex or ShapeShift exchange platforms. you need to have already got your private wallet address. first, buy some altcoins like Bitcoins BTC, Ethereum ETH or Litecoin LTC with fiat currencies after that you are ready to convert them into Factoids tokens.
Where should you keep your Factoid tokens safe?
We recommend you the following 3 wallets that accept Factoids tokens.
The first one is that the official wallet called The Factom Enterprise wallet. it's available for Windows, Mac, and Linux operating systems. it has a friendly interface and it guides you through the all the features of it.'What Makes Factom Coin So Great?'
Next, you can keep your factom tokens on Jaxx wallet. it's compatible with Factom cryptocurrencies. It’s already a popular wallet, thus you should not worry regarding your factom coins safety. you can download the Jaxx wallet here.
The last one is FactoidPapermill wallet. you will be allowed to generate private key addresses and keep them on a paper. it's available for Windows, Mac and Linux operating systems. you will find the necessary information about how to install the Paper wallet right here.
What Makes Factom Coin So Great?
Reviewed by mir khaleq ali
on
16:59
Rating:
Reviewed by mir khaleq ali
on
16:59
Rating:
No comments: