The final scores are in, and the first grants of 2019 have been awarded by the Standing Parties of the Factom Protocol. More than $750,000 worth of FCT at current prices will be disbursed. The grant recipients in order of score are:
- Factom Inc Protocol Development Continuation – Covers a couple month gap where Factom Inc did not receive compensation for the Core development work they were performing.
- Factomize Core Development – Factomize LLC’s lead developer will work on Core full time.
- Factom Inc Protocol Development – Factom Inc’s Core development efforts will be funded for an additional three months.
- FAT Protocol Development – Development of the Factom Asset Token (FAT) Protocol was funded for an additional three months. Learn
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The Factom Protocol recently went live with Milestone 3, which officially decentralized the network. The first 21 Authority Nodes were elected, and will receive compensation via the underlying token (FCT) in return for operating the servers responsible for decentralizing the protocol. The structure of Factom requires each of the Authority Node Operators to choose an “efficiency” at which they will operate. Efficiency determines what percentage of their monthly 1,100 FCT that each Authority Node Operator will leave with the protocol in the form of a grant pool. For example, if operating at 40% efficiency, an Authority Node receiving 1,100 FCT will accept only 660 FCT and the remaining 440 FCT will not be awarded to the Authority Node but instead … Read the rest