On the 27. November 2018 share Facebook Twitter LinkedIn xing mail
the correlation between The rates of Bitcoin and Altcoins is known to be high. Again and again, jewels will arise, however, the claim successfully and against all odds, against the Trend of the Zugpferds BTC. In this case, it is Factom (FCT). The Coin creates his very own bull market, because, within the last 14 days FCT was down a whopping 99 percent of their value. Time to take the Coin under the microscope.
First of all, the bare Figures. The gem Factom lists on rank 53 on CoinGecko, has a market capitalization of just over 78 million dollars and a daily trading volume of over four million dollars. The company exists since 2014, the Genesis block was CoinGecko according to the 1. September 2015 gemint.What is Factom?
In a sentence: Factom is a Protocol that data to ensure integrity. This includes a whole range of solutions to guarantee the integrity of the stored documents, such as digital identities, invoices and Proof-of-Existence-of-Files. Changes to the documents are through the Blockchain to see.
How does it work?
Without a Token, also the Blockchain is not. With Factom, it is equal to two: Factoids and the so-called Entry Credits (EC). The former, investors can trade on Exchanges. The courses, the reliance on CoinGecko with the Ticker FCT, apply so, strictly speaking, for the Factoid-Token.
With the Factoids can buy users then EC. This Entry Credits are in the next step of the way on the Blockchain. Each EC entitles users to the White Paper, according to a Kilobyte (KB) of data volume on the Factom servers, the "Federated server" to block for their own use.
This Server, however, are not in the hands of Factom. For their services, so the compute-intensive processing of the Protocol, paid the company the Federated server princely. Because Factom provides each month a total of 73.000 FCT available which are proportionally distributed to the operators of the Server.
Ultimately, the price of the Factoids is correlated strongly with the use of the network. The more companies on Factom for the block chain-based data processing, the higher the demand for Factoids. It also "burns" the Factom all of the FCT, which be used for the acquisition of Entry Credits. That is, the Supply is in strong use of the Blockchain scarce, which manifests itself in a higher price.
This leads us then to the next point.Why the Moon?
so Why the Token can't bear tying and weeks to the biggest winners? Keywords: Speculation.
investors expect Factom draws in the future, many partnerships with companies in the country, which use the platform for their data structures. An example of this is the Equator Homes. The US software company wants to use a press release, according to the Factom Harmony platform for their loans. According to the announcement on 13. November FCT started then his little Bull Run. Within the next 14 days the Token to be placed temporarily to 300 percent, and subsequently fell off again. Currently a FCT 8,49 US Dollar costs.
according to Reports, the US Department for Homeland Security is interested in the Service, and in July of this year $ 192,000 for research and development at the Factom platform. This accolade is of course grist to the mill of speculation.
the rise of the share price is not driven by greater use of, however, right to say for sure. We remember: Factoids are burned during conversion to the records on the Blockchain. Therefore, the number of burned FCT is a good indicator for the actual use of the service. As shown in the following graph, however, is that is burned, the number of the verb FCT is currently low.
The block chain-based revision of Documents is one of the major Use Cases of the technology. Since the Factom Incorporated has existed since 2014, the company has a competitive advantage over all of the ICO projects by 2017. Currently, the green Candlesticks of the FCT are driven, however, speculation. Until including a real User Base is likely still some time into the country.
The current Factom course, you can find here.