With bitcoin steadily increasing its value, users need security to safeguard their coin reserves , whose popularity also increases in great strides. This is how Factom is born, the blockchain platform dedicated to the storage of Bitcoin in the blockchain.
Following a sustained development of the platform since its launch as an adaptive registration system, the company has now announced the creation of new software with the Factom Federation Network, an upgrade to its platform that includes transaction confirmation up to 600 times faster, up to 5 times more transactions per second, multiple blockchain support (for Bitcoin and Ethereum) and more.
Its creators announced this release as the next step since its latest Factom Genesis release, including changes to the base protocol for protection service update and speed for platform users, including eight federated servers - that is, independent servers for the management of the database - which generates more privacy for transactions.
Also, with the activation of the Factom Federation Network, the platform will now have an extra of eight auditing servers - distributed for confirmation of registrations and transactions - which will also be a new reinforcement to give security to the activities of the users of the service. A distributed P2P network to withstand system attacks and even access Merkle tests - the blockchain log structure - using the Factom API.
The developer of the decentralized data logging system for business use also updated the graphs for the display of the control panel of nodes in the blockchain network, the adaptation of the Factoid token to a wider range of digital portfolios, and public infrastructure tests of the platform.
These improvements keep Factom as one of the most promising platforms within the blockchain ecosystem, with a significant number of investors who have supported the project since its inception. "It has been inspiring to have a large community of like minded individuals who have supported us as we build this incredible technology", said Factom Co-founder and Chief Architect, Paul Snow.