Factom is a blockchain-based system that is used to secure real-time records, it allows users to store data of all size in a single hash and for that data to be audited in a decentralized manner. The native value currency in the Factom system is called “Factoids” which has seen a recent price surge during this last month and a +30% increase during the course of today (29/08/16)
Factom is a systemin which millions of real-time records can be secured in the blockchain with a single hash. When entries are accepted by the Factom servers they are assembled into blocks and set in a pre-determined order, by creating a hash of the data collected. After 10 minutes (the bitcoin average blocktime), these entries are inserted into Bitcoin’s blockchain, making them permanent and irreversible. These entries can then be audited in a with or without trust, which is an important process in order to ensure that all the information is correct before it is included in the Factom dataset.
Factom can be used to power a remarkable range of applications, including audit systems, medical records, supply chain management, voting systems, property titles, legal applications, and financial systems. Factom has recently collaborated with a financial data feed company called Intrinio to provide Wall Street data to be embedded on the blockchain.
You can learn more about Factom by reading the White paper and looking into the technology that makes it tick.
Due to its recent success and proven technology, which has been going strong since its release on the 5th of October, 2015 (05/10/2015), Coincheck has decided to add Factoids, the currency in the Factom system, to its select list of supported cryptocurrencies. This will allow a wider audience of users to have access to this cryptocurrency, most notably in Japan.
Factoids can be purchased from bitcoin wallet page.
You can purchase by depositing YEN to your account or by converting BTC you own to JPY.
Enter amount of Factoids you want to buy and click the buy button to complete the order.