Factom is a decentralized storage platform, which works with a secure blockchain. Any organization or company can store their data privately on the blockchain. Factom's innovation is based on the data layer created on the Bitcoin blockchainFactom was made to conquer a portion of the weaknesses of Bitcoin blockchain.
To be sure, the Bitcoin arrange can't bolster an extensive volume of exchanges without an effect on the executives expenses. Factom offers a blockchain that can adjust to a substantial number of activities while offering lower costs. The Factom arrange utilizes its very own tokens, the Factoids (FCT). This cash is utilized as a section charge for organizations to store and secure their archives in the blockchain.