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Factom Protocol Newsletter

October 15, 2019

Welcome to the October 15th, 2019 edition of the Factom Protocol newsletter. In case you missed it, here's the October 1st edition. As you'll see, the last two weeks saw significant successes from those working on PegNet which is the novel Stablecoin network built on top of the Factom Protocol. Important pieces continue to be put in place that will enable Factom to become the dominant blockchain platform.

Usage and Development
Metrics from the last two weeks showcase that the Factom Protocol is one of the most used blockchain platforms in crypto. The protocol metrics site Factoshi showcased a rise in cumulative entries from 18,213,995 to 20,248,606 over the last 3 months.

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Total chains saw a massive increase from 24,364 to 42,393 over the last 3 months. "Chains" are client-defined sequences of entries (I think of them as mini blockchains) relevant to an application.

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FCT (the token for the Factom Protocol) was previously burned only for Entry Credits. However, with the advent of PegNet, FCT became an onramp into the stablecoin network (the other being mining). You can convert FCT (one way) for pFCT which is then convertible into 29 different assets on the network. Converting FCT destroys it and thus reduces the overall supply. As you can see, FCT conversions were very high leading up to the launch of PegNet.

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The recent conversions of FCT to pFCT are the equivalent of over 56 million EC being used! As David Johnston recently wrote, FCT became deflationary for a time.

Who, the Core Developer for Factomize, wrote a blog post titled, How to Setup the PegNet Ecosystem for Conversions and Transfers.

PegNet, the Stablecoin Network for Decentralized Finance which is built on top of the Factom Protocol, launched Milestone 2 on October 7th at block height 213237. This enabled conversions (changing one asset into another within PegNet) and transactions (sending assets from one address to another).

Pegnetd, v0.2.0 was released and went live on Monday the 14th at block height 214287. This release priced PEG on PegNet for conversions. PEG is currently priced at the total market cap of all pAssets / Supply of PEG. Once PEG is listed on exchanges, the exchange price will be used for conversions.

Enterprise Desktop Wallet 3.1 was released which has substantial upgrades. The release notes are available at the link.

News

Factomize launched PegNetMarketCap.com which is a site similar to CoinMarketCap.com but specific to PegNet.

General Happenings

The Factom Protocol attended and Sponsored Voice of Blockchain and a recap on the event was provided.

Greg Forst of Go Immutable / the Marketing Committee was interviewed by Crypto Core Media.

Triall, which is creating a digital ecosystem for clinical trials and will conduct an ICO on the Factom Protocol, was featured in Clinical Research News.

We'll see you in two weeks.