Factom provides organizations with enhanced blokchain data storage. Their decentralized platform allows users to store more data and to audit it in real time.
- Founded 2014
- Austin, Texas
- A Data Layer For The Blockchain
Factom is a decentralized data storage platform that augments the storage and auditing capabilities of the Bitcoin blockchain. Factom provides an an additional data layer that allows users to store and audit data more efficiently and to overcome the storage limitations caused by small block sizes. It also allows organizations to leverage the benefits of blockchain, while providing a mechanism for auditing and ensuring relevant compliance. Factom offers an API that can be used to develop decentralized projects, and is designed to assist government agencies, businesses, and non-profits. The blockchain has a hybrid consensus mechanism, with elements of Proof-of-Existence (PoE), Proof-of-Process (PoP), and Proof-of-Audit (PoA).