Factom (FCT)
Factom has lofty goals of helping to eliminate global fraud, corruption, and forgery. Factom intends to help put global data onto an immutable blockchain, for transparency and security. Current customers include the US Department of Homeland Security, so this is actually a functional, real-world project. Factom's unit of currency is called the Factoid.
Mining/Staking
Factom is a distributed, decentralized protocol running on top of Bitcoin. Factom records its state in the Bitcoin Blockchain every 10 minutes. Factom itself does not use mining. Instead, it has a consensus algorithm that features thirty-two consensus entities. Anchors in Bitcoin make it so that Factom cannot change its own history.
Development Team
Factom was founded in 2014 by Paul Snow and David Johnson. Based in Austin, Texas, the project currently has a fairly large development and advisory team.
Criticisms, Caveats, and Competitors
Factom's largest potential competitor will probably be the advent of easily deployable private blockchain systems, which should soon be available from a number of other cryptoasset platform projects.
Additional Resources
The project's main website: https://www.factom.com
Link to Wikipedia Page: https://en.wikipedia.org/wiki/Factom
Link to Reddit Community: https://www.reddit.com/r/factom
Link to Twitter account: https://twitter.com/factom
Link to Team information: https://www.factom.com/about/team
Link to data on Live Coin Watch: https://www.livecoinwatch.com/coins/FCT
Whitepaper: https://www.factom.com/devs/docs/guide/factom-white-paper-1-0
More Articles & Links relating to Factom:
How to Store Factoids in a Paper Wallet on Windows
http://factomize.com/how-to-secure-your-factoids-with-factom-papermill-on-windows
Detailed Instructions for Enterprise Wallet for Factom
https://docs.factom.com/#choose-your-wallet-type