The Factom® protocol is built to leverage the security and immutability of blockchain for the purpose of securing data. The protocol is a standalone blockchain solution that can exist as a layer above any blockchain (currently Bitcoin), allowing for data to be published and secured continuously in real-time.
The Factom® protocol allows for data to be grouped into chains to easily examine what exists and doesn't exist within that data group. Using Bitcoin, one must scan over the entire blockchain to determine this question. The protocol's efficient data organization greatly reduces time and costs associated with the storage and retrieval of data from the blockchain.
The Factom® protocol is unique in that the cost to write data to the blockchain is fixed and unrelated to the wider cryptocurrency market. This is because of its unique two-token design, which allows a company to secure its data with the protocol while knowing exactly what it will cost, and without using or holding any volatile cryptocurrency.
The Factom® protocol is an independent blockchain that secures data using the Factom® protocol consensus mechanism. Factom® takes security one step further and anchors the results of the protocol’s consensus into every block of the bitcoin blockchain, efficiently leveraging the security of the bitcoin blockchain.
The Factom® protocol was built from the start for sharding. The Factom® blockchain is pure data. Separating token transactions and computation from the data layer allows for extremely efficient sharding of the blockchain. An efficiently sharded data blockchain allows for continuous and real time securing of the level of data enterprise customers demand.
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