Ana Sullivan

Factom (FCT) Coin – Will It Go Down After Its Recent Price Increase?

by Ana Sullivan May 21, 2018

Factom is a platform based on blockchain technology that is securing all kinds of documents with its protocol. Factom takes blockchain on another level, way beyond the finance and currency roles served by most cryptocurrencies, allowing documents such as mortgages and land deeds to be safe and secure. The Factom (FCT) coin has reached a market capitalization of 164.03 Million dollars in the last 24-Hour period. The coin traded 15.02% higher against the U.S. dollar during the last 24 hours ending at 10:00 AM EDT on May 21st. Just a few days ago, the value was showing big fluctuating by showing large spikes up and down price charts.

 

 

 

The Factom team has published a White Paper on their website, which shows in greater detail what the Factom project stands for.

 

Factom (FCT) – Recent Performance

 

The Factom coin has reached a market capitalization of 164.03 Million dollars in the last 24-hour period. Although, its price seems steady today, a few days ago major spikes appeared in the price chart showing great differences with the price value increasing and decreasing. Factom (FCT) saw a rise of 15.02% at 10:00 AM EDT, on May, 21st against the US dollar. You can see the price fluctuations in the chart below:

 

 

The graphical chart was taken from the CoinMarketCap website.

 

Factom (FCT) – Historical Background

 

Factom is a platform based on blockchain technology that is securing all kinds of documents with its protocol. Factom takes blockchain on another level, way beyond the finance and currency roles served by most cryptocurrencies, allowing documents such as mortgages and land deeds to be safe and secure.

 

Trust is a factor that is crucial, but in short supply in today’s economic world. In order to gain trust, people make great efforts to audit and verify records. Which overall reduces global efficiency, prosperity and the return on investment. Current processes are inaccurate and prone to failure. Factom removes the need for blind trust by providing the world with the very first precise, verifiable, and immutable audit trail.

 

The challenge to protect, synchronize, and the impossibility to truly verify records is made easy by Factom. Computers automated some of the tasks described above, but computer systems are even harder to protect, synchronize, and verify because computer records are so easy to change.

 

Factom aims to create a distributed, autonomous protocol to cost effectively separate the Bitcoin blockchain from the Bitcoin cryptocurrency.

 

Factom has yet to prove that it is not a volatile cryptocurrency and for now the recent price spikes definitely state otherwise.

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