What is factom & how does it work?

Former Factom CEO Peter Kirby Factom is an enterprise blockchain protocol that ensures the integrity of data and digital assets. The Factom protocol is open-source, decentralized, and can be easily integrated into legacy systems without the need to handle cryptocurrency.

What is factom protocol (FCT)?

Factom Protocol offers a two-token system. The FCT token is the platform's native cryptocurrency. It is used to transfer value and can be traded on various cryptocurrency exchanges with a variable value. The token used to enter the data into the Factom blockchain is the entry credit (EC).

What is factom asset token (fat)?

The Factom Asset Token (FAT) is an open-source tokenization protocol. FAT intends to create a pure-data tokenization solution directly within the Factom blockchain's efficient data structure. The Factom protocol has a two-token structure that reduces the barrier to building applications requiring cost stability and connection simplicity.

Why is factom so controversial?

All cryptocurrencies suffer from various issues and some sort of controversy and while Factom is no different, it was rather difficult to scoop up some dirt on them. One of the biggest issues/controversies surrounding Factom is that the Factoid (FCT) supply is not capped, meaning FCT tokens will forever be issued, regardless of price and supply.