Factom - Business Processes Secured by Immutable Audit Trails on the Blockchain

The network creates a censorship resistant blockchain which is rendered immutable by the Bitcoin blockchain. It provides a platform where diverse parties can collaboratively publish and interact without relying on a middleman.

Entries into the Factom Network are collected by federated nodes and protected against change using the Bitcoin hashpower. Applications can write an unlimited number of entries into the system on their own distinct Factom chains. This allows applications to read only their own chains of data, while ignoring unrelated data, thus giving developers a scalable framework.

The entries are organized into hierarchical sets of blocks. These blocks are then used to compute for a single hash every 10 minutes. We take these hashes and anchor them into other blockchains for redundant security. This design allows applications to write transactions faster, at a much lower cost, and with greater scalability than other blockchains. It also allows users to forgo dealing in tradable tokens.