Last week Paul Snow, Factom’s (FCT) CEO shared unofficially through their sponsored Slack conversation that Factom Federation just got another grant from the Bill and Melinda Gates Foundation. This is the second one so far according to the Factom (FCT) official subreddit.
Not enough to convince you? Check out bellow this other grant, an official one this time, representing the third one coming from the Department of Homeland Security.
If you want to find this grant and check it out for yourself go to the website in description and search for Factom (FCT) for yourself. I wasn’t able to place a direct link because it involves a filter search.
Factom’s subreddit and social media coverage is relatively small when compared to other Altcoins, which in turn reflects on its poor positioning in CoinMarketCap.com as #50. Even though its low ranked the ones that know exactly what the Factom (FCT) Federation is trying to do with the Two-Token system embedded, seem to expect breakthroughs in 2018.
The Two-Token technology behind Factom (FCT)
Firstly, Fatcom (FCT) is an open-source project, which usually is always a plus.
Resembling Cardano (ADA), Factom separates the computing process needed to handle the sensitive information from the computing process of handling the tokens. Through both Factoids (FCT) and Entry Credits (EC) Factom:
“Isolates use of the protocol from a tradable token” – Paul Snow, Factom (FCT) CEO
Now, through the 64 “Federated Servers” they plan to incorporate will provide a validation service which in turn repays them accordingly.
The paygrades for each server is set throughout milestones defined by Factom (FCT) Federation. Like I stated before this form of decentralization brings a lot of financial interest not only through visibility, but in terms of rewards as well. By the completion of the third milestone planned by Factom each Federated Server will receive 73.000 Factoids (FCT) each month.
This sort of distribution was one of the inspirations to create Stellar Lumens (XML) that also plans to delegate through a similar method, what they call “Validators”, that we’re recently provided from IBM. (Link Below)
Factom (FCT) didn’t have the same gains this year that both Bitcoin and all the Altcoins had, which is observable through their position in CoinMarketCap.com as #50. Nevertheless, Factom (FCT), saw mainly due to market quota, some incredible 1000% gains.
Whilst this is indeed impressive to everyone that invested in it in January where the price sited at around 2.25 USD and currently sitting at 21.55 USD. This discrepancy was even bigger during both July and September where one Factoid (FCT) was worth 32 USD. Check chart below:
As I’ve stated before, in average, each outburst makes up for any downwards trend. In Factom’s (FCT) case we see that the major slides that happened affected it in a much more vibrant way than the rest of the crypto market.
We can interpret this in many ways. Either we see that Factom Federation is a fragile project (not likely IMO) because of its vulnerability to slides or we can see it as a case of a not sufficiently vocal community.
If Factom Federation is able to become more vocal and active on social media we will be able to see Factoids (FCT) going up to the 200 USD on the second quarter of 2018. This is possible given that the current direction of the crypto market is headed to the trillion-dollar capitalization.
Factom (FCT) will, in my opinion, climb the charts as top 20 coin when the industry and partners start to announce their presence. Most likely in 2018.
Factom (FCT) project targets the security behind data-sharing systems. The same way that bitcoin ensures security in a value transaction, Factom implements a secure way for you to store your data in the blockchain where it will remain without the possibility of being removed.
This will of course raise questions about the capability of all the nodes supporting all this information. That’s why Factom (FCT) developed a tracking capability that allows you to verify all the information without having to download all the information on the blockchain.
By adding multiple layers that target the security of a transaction, Factom (FCT) can give us immutable blocks. Through anchoring itself to Bitcoin’s chain Factom is also able to benefit from the hash rate within it.