FCT and Entry Credits29 Nov 2018 21:50
Predictable cost: Our two token system means the transaction cost to write entries to the blockchain is fixed.
In other words, Factoids do not buy entries into the blockchain as they would in typical cryptocurrency models.
Rather, Factoids are burned to create Entry Credits, which purchase fixed amounts of data in Factom.
The price of Entry Credits are fixed, so the cost of entry is predictable and not dependent on the fluctuating price of a coin.
Unlike a cryptocurrency, Entry Credits are non-transferable, and can be treated as a product instead of a currency.
This is great for institutions who choose not to use cryptocurrency. The cost to use the system is based on usage, independent of the Factoid exchange rate.