Factom is perhaps the most anticipated project in the cryptocurrency ecosystem for 2015. Factom promises to introduce new blockchain based software that will bring developers the tools to build a new generation of applications using the blockchain technology while making it available to every type of organization.
Factom introduced the first functional blockchain technology that provides an unalterable and safe record-keeping system. By using another data layer on top of the Bitcoin blockchain, the Factom protocol can secure millions of real-time records in the blockchain with a single hash.
Factom Genesis, the beta version of Factom software, has already been launched and to celebrate, the team secured “The Universal Declaration of Human Rights” in 443 different translations to the Bitcoin blockchain.
This week the Factom team released a new app called the Factom Keymaker. The new app serves as a tool to help investors check their Factoid balance. The team developed the app to be available for Mac, Linux, and Windows operating systems.
The Factom team is working hard and recently updated the instructions for the Factom Genesis and made available a step by step guide for users to check their Factoid balance. Although the app is ready and fully functional, the team notes it is still in beta test and users wanting to use it will be required to have a Koinify wallet 12 word passphrase to get their Factoid address with Factom keymaker.
Factom works like a truth engine. It uses math to prove existence.
Factom is the mathematical area to prove the existence of digital data. Factom’s technology decentralizes record keeping by using a network of millions of computers to ensure that the integrity of stored data remains intact, providing complete transparency, without discarding user privacy.
Factom’s technology was the first blockchain technology made available for government organizations, financial institutions as well as other businesses to use it to document their information and secure their databases.
Factoids (⨎) symbol announced
Having intimate ties with the digital era, the team chose the integral with double stroke to represent their software licence. “⨎” is a mathematical symbol for integral and the team also loved it since it looked like an “f” perfectly suitable to symbolize Factoid, the Factom protocol token.
The Factom team is hoping to gather more support from the community and looking for some new geniuses to complement the team. Factom has three spots available in Austin where the company has vacant jobs for a Front End Developer, a Test Engineer, and an Engineer – C/C++, Java or Go, Go.
Factom designed a software enabling corporations and governments to easily secure their sensitive information and systems using the Bitcoin blockchain. It is the first technology to solve real-world business problems using Bitcoin. With a single anchor into the Bitcoin blockchain, millions of records become secure in real-time. Once Factomized, information becomes impossible to modify, delete, or backdate.
Factom has been collecting a lot of partnerships along the way. These have been acting as test grounds while proving that its fundamental technology can be extremely useful and will be widely adopted in the future.