What is your opinion about Factom? (FCT)
What is your opinion on Factom?
I've been looking into this coin and so far quite impressed with their product (working product I might). It is described as follows
"A DATA LAYER FOR THE BLOCKCHAIN
PROOF OF EXISTENCE: A document existed in this form at a verified time.
PROOF OF PROCESS: A document existed and is linked to this new updated document.
PROOF OF AUDIT: A document when it changed can be verified to have changed according to a set of rules. "*
This absolutely basic function seems akin to the invention of the paper clip. Nobody really notices but it's so useful. With all the document tampering, deeds getting lost in conspicuous fires, etc.. Seems to me like the world is in severe need of a protocol like this one.
FCT is itself a decentralized immutable network, but it further anchors (hashes) to the Bitcoin blockchain to enhance its immutability and security. In theory this means someone would have to out-hack not only the Bitcoin network, but the FCT network too.
Does anyone else think Factom is not only significantly undervalued, but also one of the most durable use cases?
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