Factom

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Genaro Network

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Factom

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Genaro Network

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What problem does this service solve?

Factom provides organizations with enhanced blokchain data storage. Their decentralized platform allows users to store more data and to audit it in real time.Genaro provides DApp developers with a platform to deploy smart contracts and store data.

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Company Description

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).

Genaro is developing a smart data ecosystem for DApp development. It will allow users to manage data more effectively with their smart contracts. The Genaro Network has a dual-strata architecture; with a public blockchain and multiple storage layers. Genaro's consensus mechanism will combine elements of Proof-of-Stake (PoS) with Sentinel Proof of Retrievability (SPoR). The network is currently powered by the Ethereum-based GNX token.

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