Category Archives: Factom Protocol Grants

The First Factom Protocol Grants Have Been Awarded

20th June 2018

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 …