September was a month tantalizingly close to huge success in development. The Xuan version of factomd was released to master, after passing testing on the testnet. Deployment started on the mainnet, but some workarounds to maintain full capabilities ended up not working. The release was pulled back in September. Later a pause on the network […] SECURE - Factum, from the latin interpretation: “Anything stated and made certain” INNOVATIVE - Factom is a simple extension of the Bitcoin blockchain that lets you build faster, cost effective applications. GENERAL. What is Factom? Factom Inc. is a company that builds blockchain software. Factom technology secures data for private and public organizations by publishing encrypted data or a cryptographically unique fingerprint of the data to Factom’s immutable, distributed Blockchain. Factom is a cost effective and cheap way of separating the Bitcoin blockchain from the Bitcoin cryptocurrency and use it for other applications. In this way, Factom opens up a wide range of use cases for the real world by using Bitcoin’s blockchain for non-Bitcoin transactions. What Is Factom? Factom is a blockchain protocol that separates the immutability of blockchain technology from the currencies that are usually associated with it. This makes it easier and cheaper for businesses to store data on the blockchain. Factom attempts to solve three main problems seen in the Bitcoin network:. Speed – Bitcoin transactions take at least 10 minutes for a single confirmation.
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