Factomize May 2018 Monthly Update

In late April Factomize LLC was chosen as one of the first 21 Factom Authority Nodes. As part of our campaign for an Authority Node, we stated our goals were:

1. Maximize deferment to the Protocol Grant Pool to ensure critical Protocol development.
2. Provide a highly stable, scalable Authority Node or Nodes for the Network with 24/7 monitoring and response.
3. Manage capital and expenses in a manner where the financial stability and ability to scale the Authority Node(s) is ensured no matter the price of the Factoid and Bitcoin.
4. Create a community portal to improve communication and information dissemination.

We’d like to update you where we’re at with these goals:

1. We promised a minimum of 50% efficiency for one Authority Node and 60% efficiency for two Authority Nodes. We are pleased to report that our Authority Nodes are now operating at 60% Efficiency making us one of the highest efficiency ANOs.

2. Our Authority Node Servers are now deployed in Los Angeles, California and Tampa, Florida. We are prepared to scale as needed and 24/7 monitoring and response has been setup.

3. This past month the price of the Factoid has been reduced a substantial amount. However, thanks to our promised startup capital of $50,000 and running a lean operation, Factomize is fiscally sound and will remain so.

4. The Factomize Community Forum is now operational with 110 members, 283 threads, and 1,665 posts as of this writing.
In the “Development” section of our campaign document, we promised:

We will be building a portal that includes a discussion forum, information, and useful tools such as this early build of our grant proposal system: https://factomize.com/proposals/ . As part of this initiative, we will be building tools that allow content submitted to blogs and forums to be easily, “Factomized” to prove ownership and that it hasn’t been modified.

We are in the early stages of building out a resources page and will soon be releasing our new homepage that will showcase how we plan to educate and drive clients to those developing solutions for the Factom Protocol. Our developer created a pre-alpha version of the Factom grant proposal system but due to the uncertainty surrounding much of the grant system, we’ve currently halted development. We have spec’d out software that will allow threads and posts on the Factomize Forum to be “Factomized” and thus utilize entry credits and hope to begin development in June.

Other minor contributions and initiatives include:

  • Our article about the initial 21 Authority Nodes made it to the front page of /r/cryptocurrency bringing widespread attention to Factom.
  • We successfully setup corporate accounts at various exchanges.
  • Factomize continues to operate a testnet server.
  • We’ve joined four different Factom Committees and plan to contribute in that capacity.
  • We’ve just begun and are having a lot of fun starting to put together the pieces that will allow Factomize LLC to play a pivotal part in furthering the Factom Protocol.

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