Factom (FCT) Price – Current Live Value
Factom (FCT) is a cryptocurrency and developer platform for institutional-level data storage. It uses an advanced protocol that allows for extremely efficient data storage using tools based on the underlying blockchain. Private tools can also have some or all of their data, usually financial transactions, stored on the Bitcoin blockchain seamlessly using this platform. The FCT coins, otherwise known as Factoids, are the currency necessary to use this platform to develop tools and store data.
The value of Factom rose gradually following its 2015 launch, with a sharp rise in late 2017. After a gradual decline from these highs, the coin saw a sharp spike and drop in the 2018 crypto boom that was even more pronounced than that experienced by most digital currencies. After falling in price alongside the rest of the cryptospace, the coin settled at an elevated price level compared to its launch price and the price in the subsequent period before 2017. It is now a top 100 cryptocurrency by overall market cap.
Factom offers a relatively rare service in the modern cryptospace by focusing on institutional-level data storage. Users are encouraged to employ the platform to take advantage of the many positive aspects of blockchain-based data storage using an advanced protocol specifically designed for this purpose. It is also an open source project, allowing users to contribute to its further development and improvement based on their direct experience.