Factom Protocol, the open-source, enterprise-grade, developer-friendly blockchain protocol, today announced that one of its 26 Authority Node Operators (ANO) De Facto has launched a new product, Factom PRO.
Factom PRO, a cloud blockchain portal for securing business data, allows users to store data on the Factom Protocol, and is anchored to the Bitcoin and Ethereum blockchains at a low fixed price of $0.01 per write.
“Factom PRO is a unique and innovative gateway for businesses to access blockchain-based storage without the need to handle cryptocurrency or deal with cumbersome deep tech. By anchoring data to the Bitcoin and Ethereum blockchains, we offer customers the most secure data storage option available in the industry, all at an incredibly low cost. Our aim is to empower businesses and organizations of every size to harness distributed ledger technology to improve their service offerings, operations, and more.”
– Anton Ilzheev, Founder of Factom PRO
Factom PRO serves as a B2B/B2G platform for evidence capture, decentralized identities, tokenization, smart contracts, and verifiable credentials.
Use cases for Factom PRO’s decentralized data storage system include intellectual property protection, supply chain tracking, secure voting systems, fraud detection, trade and credit financing, and verification of insurance claims.
The Factom PRO service does not require users to handle cryptocurrency, or setup, maintain, and monitor their own blockchain nodes. Instead, the product acts as an accessible gateway for businesses to leverage blockchain-based data storage, allowing users to read and write data on the blockchain using a traditional REST API.
By design, any data stored on the Factom blockchain will be recorded in an immutable and independently verifiable manner. The Factom protocol enables secure storage of data without requiring costly intermediaries. By providing high throughput, low fixed cost, and secure data entry that easily integrates with existing systems, the Factom protocol aims to offer the highest standards of data integrity.
“The Factom protocol is the highest standard of decentralized data storage, boasting maximum accessibility, so that blockchain technology can truly reach the masses. We believe Factom PRO is the future of blockchain for businesses, with the potential to bring mainstream business adoption to the forefront of our industry. We are excited to expand the Factom protocol’s impact across industries with this new, cutting-edge product offering,” concluded Ilzheev.