- Factom is the first usable blockchain technology to solve realworld business problems by providing an unalterable recordkeeping system. - By creating a data layer on top of the Bitcoin blockchain, Factom’s distributed ledger technology secures millions of realtime records in the blockchain with a single hash using cryptographic isolation. - Businesses and governments alike can use Factom to document their information so that it cannot be modified, deleted or backdated. - Factom’s technology decentralizes record keeping by ensuring that the integrity of stored data remains intact, providing complete transparency, while at the same time maintaining user #privacy in an increasingly digital world.The Factom project began in 2014 which puts it on the older end of the blockchain spectrum. - The team has made steady progress since then. - They released the first version of Factom in early 2015 and had their token sale in the middle of that year. - In August of 2015, they were accepted into the Plug and Play FinTech accelerator and were chosen as one of Austin’s AList startups in May 2016. - Based out of Austin, TX, the core team has multiple members with several years of experience in the blockchain space. - Peter Kirby, Factom Cofounder and CEO, and Abhi Dobhal, VP Product Management, previously worked together at CoinTerra, Inc – a producer of ASIC miners for Bitcoin.The price of a Factoid is directly tied to the amount of network usage. - As more businesses join the network, it will become more costly to submit Entries which will, in turn, affect the Factoid price. - Once the number of Factoids being burned outpaces the 73,000 that are created each month, the currency will become deflationary. - This may drive the price up even further..
The cause may be that the coin is newly minted or has been delisted from the market. or trade in a decentralized market (Decentralized Exchange), etc. Please study more information again.
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