Nowadays, the cryptocurrency world is being driven by memes, shitcoins and non-functional tokens, created on several different networks and blockchains, which serve no purpose at all other than tricking users into trading those assets to create market fluctuations that are backed by no specific reason at all and are all artificially made. This mess must come to an end, and cryptoandreviews.com is here to do that.
The benefits of Factom are closely linked to the utility of the tokens which will be reviewed on this article.
Cronos, PancakeSwap and The Sandbox all had a quick run up when they were introduced into the market. Many people invested in the initial idea while others didn’t. You know the rest of the story as of today.
A lot of investors have hurriedly delved into investing on a project they have little knowledge about Due to Fear Of Missing Out. So on this article, we will review Factom token by explaining what the coin is about, insights on the project listing the pros and cons, the supply and how legit/safe the token is for investment.
Please note; This is not an Affiliate Link related article, neither is it a Promotional Article.
What is Factom?
The Factom Protocol describes itself as an ‘open source, decentralized data integrity protocol built by an international coalition of companies that extends the security of blockchain to any data type’. The protocol is reportedly easy to integrate with any system, thereby providing a low, fixed cost source of indisputable truth and verification for business and government.
The fixed cost and dual token design of the protocol reportedly enables subscription models where customers do not have to hold tokens despite their being used automatically in the background. The team views the Factom protocol as a global utility for companies to provide seamless access to applications with no unnecessary interaction with the integrated, underlying technology.
There are 10,301,961.58 FCT in supply worldwide.
Pros and Cons of Factom
Pros of Factom
- There is a surge in the market price currently
- Project whitepaper available
- Contract on Binance Smart Chain
- They are fully decentralized
- A lot of investors are ‘flocking’ to invest
- It is listed on coinmarketcap
- Good navigational website
Cons of Factom
- The coin is still under research and development
- Multiple issues with its synchronizations between ledgers
- Not listed on some exchanges
- No Github profile
- They have no reddit account
- No Bitcointalk thread created
- No traceable features on tradingview
Is Factom Legit or Scam?
A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.
According to research and reviews, Factom have developed a problem solver but with a weak back up for the token they produce. Going through their community and roadmap about their project, their visions and aims have so far been achieved.
Is Factom Safe?
Being willing to invest in any token is a question entirely up to you to answer. Factom token has a formidable team and vision to backup their digital assets and project. The project will succeed but depends if the team keeps the vision active and alive.
Make personal research on the coin, visit coin’s official website.
Follow our blog to learn about coin legitimacy. You can share your thoughts and experiences about Factom on the comment section below. Don’t forget to rate and leave a review.