Efficiency Change

Previous Updates

--Develop Automated Filesystem Object Hashing Tool

--Develop Node Monitoring and Alert Tool

--Develop data analytics tools

--Develop SME intellectual property tools

--Establish as an EC reseller


--Two Testnet nodes


--Commit a hash of known good file state for key security files to Factom at regular intervals

--Publish a monthly blog post


2 nodes: 50%
1 node: 50%
Relevant links:
- Forum Q+A
- Aggregated pledges
- Application
- Supporting documents

- Data Analytics Tool
A much better way to describe this is as a 'Factom metrics website'. We completed the website in Q3. You can see the finished product here: https://factoshi.io. We plan to launch version 2 next year.

- Node Monitoring and Alert Tool
The first version of this was published a while ago. I continue to make improvements. Recently, I updated it to include a rota, so large teams can manage who is to be alerted according to a weekly timesheet. You can see that change on the Github repo: https://github.com/Factoshi/factom-node-monitord

- Two testnet nodes
We run two nodes on the testnet. One is an authority node. The other is a follower that we use for development and general testing purposes.

- Efficiency
We are operating at 50% efficiency. Our initial pledge was to maintain this for at least 12 months, but there are no plans to lower it after that period.


- Establish as an EC reseller
This is still on the horizon. It has not been started yet. That is partially because there is currently no demand for EC, and partially because we are busy with other things that we hope will generate that demand.

- File system object hashing tool
Again, this is still on the list of tasks to complete. We still intend to do it, and can develop it in parallel with our current project (more on that below).

- Commit a hash of known good file state for key security files to Factom at regular intervals
We need the file system hashing tool to achieve this. We can start doing that once it has been developed. Hopefully by EOY depending on how well work is progressing on our current large project. It's not a matter of difficulty; it's just a matter of finding time.


- SME intellectual property tool
This was going to be the eventual destination of the file system object hashing tool mentioned above. However, we have suspended this pledge indefinitely. We may return to it at a later, but have no firm plans to do so at this time.

The suspension of a core pledge might raise some eyebrows. However, since making our pledges, we have come up with a plan that we think is more commercially viable and is a much more interesting showcase in the power of Factom (more on that below). We chose to do this on the basis that it is likelier to produce better outcomes for both Factom and Factoshi. We are confident in that decision.


- iOS
This is the project that has replaced the intellectual property tool. I don't want to reveal the function of the application yet, though at least two guides are aware of the details. We have wireframed the app, contracted a graphic designer, completed most of the necessary research, and have begun to actively write code.

Launch is currently targeted for Q1 2019. We will have more information closer to that time.

Non-pledge contributions

- Accounting script
We wrote an accounting script to help ANOs manage their accounts. A number of ANOs have adopted it into their workflow. You can see that here: https://github.com/Factoshi/factoid-address-monitord

- Committee participation
I am an active member of the campaign pledge committee.

- Community participation
I am active in community governance decisions. I am also frequently on hand to help people with tech questions.


We are very pleased with our work so far. We are confident in our course of action, and look forward to sharing more of our work with the community as it becomes available.
I have just published version 2 of the Factom accounting script. This version is significantly more useful, flexible and maintainable than the previous version. New features include:

- Monitor multiple addresses from one script.
- Output transaction data to only bitcoin.tax, csv, or both.
- Use a combination of different bitcoin.tax accounts for each address.
- Monitor only coinbase transactions, only non-coinbase transactions, or both.
- Use a different base fiat currency for each address.
- Report the TXID for each transaction on bitcoin.tax.
- You no longer need to run walletd.

Please find full instructions for setting it up on the Github repo: https://github.com/Factoshi/factoid-address-monitord

Feel free to reach out to me on Discord if you need any help setting it up.
Current Update: Efficiency Change
Factoshi is moving to a 60% efficiency effective today.

Our website, Factoshi.io, will continue to be maintained and developed. However, health concerns are forcing me to re-evaluate the amount of time I can dedicate to Factoshi and to Factom, which is currently my full time occupation. I believe 60% will bring Factoshi into alignment with other ANOs.

In previous updates I had outlined plans to develop a smart phone application that uses a Factom back end. That will be put on hold until a time that more hours can be invested into the business.

Though this rearrangement is not done willingly, I am pleased to be able to raise Factoshi's efficiency. The last grant round was significantly oversubscribed. Whilst the price has risen recently, we are on course to have even less FCT in the grant pool by the time the next grant round arrives. I consider the grant pool to be a vital resource for protocol development. Generally speaking, I am thoroughly impressed by the quality of the grant proposals we received at the last round, and I am pleased that increasing Factoshi's efficiency will make more funds available to future grant applicants.
Thank you for the update Alex.

I appreciate you being up front about the changing circumstances, and adjusting the efficiency accordingly. You are leading by example, and I hope others will also dynamically adjust in the same manner :)

Factoshi.io is an invaluable resource for the community which I know sees a lot of use, and I'm happy to hear that you will continue to update it going forward.
Hi Alex,

I can only echo everyone else's sentiment. I'm sorry to hear about your health issues and wish you all the best. I appreciate the numerous contributions you have made to the community and think your positive attitude and integrity are a model for all of us. Thank you for being honest about your ability to commit time and adjusting your efficiency accordingly. I hope you are able to quickly return to your status as a development ANO as you have already brought a lot of value to the ecosystem in that capacity.