How Does The FCT Token Fit Into All Of This?
Using Merkal trees and chain IDs, the Factom network can compress and store a large amount of information in a single block. This make the network affordable at scale. The Factom platform was designed so that higher transaction volumes increase token prices.
To pay the federated nodes 73,000 tokens are generated each month. If the currency is inflationary or deflationary, depends entirely on if more or less that 73,000 tokens are burnt in a month. This is an easy to understand, clear cut , economic process. More tokens are created and the value goes down. Less tokens are created and the value goes up.
Why Now Is The Time to Invest In Factom?
In the later half of 2017, the board of Factom saw some major changes. Tina Laurence, Factom CMO, left the company, and the previous CEO of Factom, was replaced by Paul Snow himself. Paul Snow developed the Factom Protocol, and he has past experience running successful companies.
The most significant changes to come out of all this in the first half of 2018 and end of 2017, were an increased social presence and the birth of a movement to better explain what they are doing and keep investors updated.
2017 was a big year for Factom. They completed their closing of a series A funding round raising $9 millions. New and experienced marketing staff were added. Jason Nadeau is very active on Reddit and has experience leading startups in the enterprise space. There isn’t much information on this, but Factom always claims to be working on partnership or pitching Harmony to one large enterprise client or another behind the scenes. The team is reluctant to report on their ongoing negotiations, which is understandable, but as these backroom deals come to light and transactions pick up on the network Factom’s FCT token will quickly become a sort after commodity.
Another interesting angle to consider, when speculating on Factom’s long term value, is that Factom have started targeting ICOs. They don’t want to be an ICO platform, like Lisk
, Factom are just aware that ICOs are companies that need to keep track of a lot of data, and because they are in the crypto space they believe in the blockchain.
Factom HQ is based out of Austin, Texas. To clear things up Factom.inc is a company developing and actively finding clients for the Factom blockchain. The technology is an open source project. All of their repositories are on GitHub, so in theory anyone can contribute to them. Most of the core developers are in Factom’s inner circle, because that is just how these things go. I think, after extensive research and a few months of being invested in the project, that the Factom team are capable bunch, who are going to see this project through to completion.
Peter Kirby and Paul Snow cofounded Factom. If you check out their Linkedin pages they both have the kind of long corporate careers and connections that you want in you blockchain company CEOs and upper management. Paul Snow has been coding blockchainish programs and networks for decades, and he was a founding figure in the Texas Bitcoin conference.
How To Invest In Factom?
Interested in hodling Factom. This coin isn't listed on Binance and other major exchanges. It is on Bittrex and Poloniex, so you might need to send your crypto around to trade Factom. Read the complete Coinlist.me guide to investing in Factom to learn more.