Question 1

How is the price of Factom (FCT) today?

Accepted Answer

The current price of Factom (FCT) is LTC 0.01068537. In the last 24 hours, its price has increased by +0.00%.

Question 2

What is Factom (FCT)?

Accepted Answer

Factom is a distinct blockchain platform designed to offer a reliable and immutable data layer for the Bitcoin blockchain. It uses its own native token known as Factoid (FCT) to perform various operations within the network. Factom is specially designed to secure millions of real-time records with a single hash using cryptographic isolation. This makes Factom a credible platform for businesses and governments to secure their records in a decentralized manner, ensuring transparency and user privacy.

Question 3

Who are the people behind Factom?

Accepted Answer

Factom project was set in motion in 2014, marking it as an old player in the blockchain industry. Over the years, the team has shown consistent progress culminating in the development of the first Factom version released in 2015. Peter Kirby, the Factom Co-founder and CEO, and Abhi Dobhal, VP Product Management, previously worked together at CoinTerra, Inc – a company primarily known for producing ASIC miners for Bitcoin.

Question 4

How does Factom work?

Accepted Answer

Factom operates by ensuring integrity of stored data on its ledger; it does this by creating a data layer on top of the Bitcoin blockchain. The operation of this network is  carried out through its native token 'Factoids'. With each entry or operation carried out on the network, a certain amount of Factoids are used or 'burned', making the network usage directly linked to the FCT value.

Question 5

What Makes Factom Unique?

Accepted Answer

Factom is distinctly unique for its application of the blockchain technology in solving real-world, practical business issues by providing an immutable and secure record-keeping system. Its ability to secure millions of real-time records in a blockchain using a single hash is quite unparalleled.

Question 6

What's the circulating supply and total supply of Factom?

Accepted Answer

There are currently 10.4M Factoids (FCT) in circulation out of a possible  Factoids.

Question 7

Where can you purchase Factom (FCT)?

Accepted Answer

Factom can be purchased on several cryptocurrency exchanges, which includes DigiFinex, Bittrex, Liquid, Livecoin.

Question 8

How to secure your Factom coins?

Accepted Answer

Securing your Factom coins can be ensured by storing your FCT tokens in a secure wallet, preferably a hardware wallet. You could also adopt practices such as regularly updating your wallet software, using two-factor authentication, and never sharing sensitive details like private keys with anyone.

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