The design of the Factom Protocol calls for a series of “Authority Node” servers, owned and operated by independent entities to both decentralize and further the protocol with the release of Milestone 3 (M3). The goal is to eventually have 65 Authority Nodes and 65 separate entities to operate them. As the rollout of M3 has begun, the Factom Protocol Guides finally selected the first round of Authority Nodes Operators; 21 in total. Once these 21 Authority Node Operators are up and running, more elections will be held with the eventual goal of all 65 Nodes operating independently. Many of the entities below will strive to become large blockchain players like Factom Inc. It’s extremely exciting for the … Read the rest
Factom held an AMA today with their Vice President of Sales, Jason Nadeau and their new CMO, Jay Smith which you can read here. Below are some of the more interesting tidbits that make me feel the Factoid (FCT) should be a top 20 token when compared to the tokens with higher market caps. And I’m not the only one who likes what they see with Factom; the cryptocurrency hedge fund, Multicoin Capital is also bullish.
The token for the Factom protocol that trades on the exchanges is the Factoid (FCT). You can burn FCT for Entry Credits (these are not transferable and are not traded on exchanges) which allow you to enter data into the Factom blockchain. … Read the rest
The Factom Protocol with its’ Factoid (FCT) token is a global utility that aims to be the means by which the world ensures data integrity and and finally secures identities. As an open protocol anyone can utilize, the possibilities are nearly endless. Factom Inc., is developing enterprise level applications that will utilize the protocol and establishing highly strategic partnerships in the process. One such partnership is with Smart Trac who have developed dLoc, a RFID-based means of authenticating documents and so much more. For a 3 minute overview of this technology, see this video:
As the Smart Trac website says, “Leveraging SMARTRAC and Factom technology, any institution that issues vital records – governments, banks, hospitals, universities – can use … Read the rest
Factom (FCT) is a cryptocurrency data layer that some refer to as TCP/IP for data integrity. Many feel it is extremely undervalued when compared to other crypto as it solves enormous real world problems and has working products and clients. Factom can be difficult to understand, in part, because the team tends to be very quiet about what they’re doing and working on for strategic purposes. They are the anti-hype coin and those of us who invest in it have to dig deep at times to find information.
Yesterday I came across the Rivetz ICO which is working to create a hardware-based cybersecurity solution that provides proof and assurance of privacy and security at the hardware level. What makes Rivetz … Read the rest
The majority of internet traffic runs on the TCP/IP protocol yet few understand how it works or even know that it exists. Technology integrates it seamlessly so that we don’t have to. As the Factom Protocol continues to move towards becoming the internet’s data integrity layer, businesses, governments, and application builders will use it in much the same way as TCP/IP when they want to ensure the integrity of their data. For true data integrity, one must have a trustless, decentralized, immutable, censorship resistant, autonomous protocol and that is exactly what the Factom Protocol is. As Paul Snow, Chief Architect of Factom stated:
While many in cryptocurrency circles have heard of Factom, most don’t know that it actually is … Read the rest
There have been many attempts as of late to try to determine a proper short term valuation for Factoids (FCT) which are used in the Factom protocol. I created a medium term valuation article found here, but people are concerned because, at present, the network cannot handle the number of transactions per second (TPS) needed to justify such a valuation. In my opinion, that is NOTHING to be concerned about since Factom has plans to implement network sharding to scale the network which they’ll roll out with M3. But in the meantime, what is the proper valuation of FCT?
I’ll get to that, but let’s first point out how different Factom is to the (at present) 31 coins above … Read the rest
88mph asked the following in the Factom Slack,
… Read the rest
I was listening to an interview with one of the heads of LBRY a few days ago, and he made the point that while there’s a lot of discussion around scaling various blockchains, none has shown how to do so successfully “in the wild.” Meaning that all blockchains with significant usage are encountering scaling problems.
I’m wondering how this applies to Factom. Do you see Factom encountering similar growing pains as usage increases? Or do you think you’ll be able to side-step some of the problems encountered by blockchains such as Bitcoin and Ethereum because of X / Y / Z in the Factom protocol? Are you concerned / relatively unconcerned? Thanks
We live in the Information Age yet our data is easily compromised and falsified. Factom with their Factoid (FCT) token is changing this as they have developed a scalable data layer for cryptocurrency that will secure the world’s data and make it immutable and easily auditable. In my opinion, this alone will create tremendous value. As of this writing, the market cap of Factom is 261 million while the market caps of Bitcoin and Ethereum are 42 and 35 billion respectively. I am making the call that, the “Flippening” will not be Ethereum replacing Bitcoin as the number one coin, it will be Factom. Before I explain why I feel this way, let me first say this … Read the rest