Quotes by various Factom Employees

Q. Why is it cheaper to use Factom than Ethereum or Bitcoin?

A. Let's say you need to secure a million documents.

"You can certainly record a hash/anchor using a million transactions into Bitcoin. unfortunately it would take a very long time 1,000,000/7 seconds if you were THE only one writing, of course you wouldn't be the only one. and it would cost you a million dollars if the tx fee was just a dollar, more if you paid a higher fee.

You can apply same situation to ethereum or any other blockchain. kitties have shown us how easily eth blockchain can get congested and it actually just becomes unreliable vs. bitcoin which simply slows down the tx. with Factom, you can make your million entries as fast as your computer systems making the entries can make them and you'd have to pay 1/10 of a cent * 1,000,000 makes sense?

Also you can budget. you know that an entry is always a tenth of a penny. It doesn't matter what the Factoid price is because the conversion of Factoids to entry credits calculates based on 1/10th of a penny. It just means you get more entry credit if price of FCT goes up. but you still spend 1/10th of a penny in dollar terms. another way to look at it from the above example is that no matter what the price of FCT is, you just need to acquire $1000 dollars worth of Factoids and whatever that amount is should convert to about a million entries." - Andrew Yashchuk - VP of Product Development on Slack
 
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