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 Factom Protocol to suddenly have host of new, well funded entities joining the ecosystem.
What’s In It For Authority Node Operators?
What’s the point of going through the hard work of setting up and campaigning for an Authority Node? Each month, the Factom Protocol creates about 73,000 new FCT which is distributed to the (eventual) 65 Authority Nodes. That means each Authority Node receives 1,123 FCT at a current value of $31,805 as if this writing. However, each Authority Node sets an “Efficiency” percentage. For example, if a Node’s Efficiency is 40%, that means it is telling the Protocol to only send it 673 FCT instead of 1,123 FCT per month. The rest of that FCT is put into a “Grant Pool” within the Factom Protocol, which will eventually be utilized to further the protocol. This may include development grants, marketing grants, and much more. Each Authority Node is expected to not just run stable servers, but to further the protocol as well. Each will do this in their own unique way, and it is now my pleasure to introduce the first 21 Authority Nodes in alphabetical order with a quick tidbit about how they’ll further the Factom Protocol.
Blockchain Innovation Foundation
The Blockchain Innovation Foundation is a Dutch Non Profit that will initially be operating at 50% Efficiency. They plan to further the protocol via core development, Hyperledger, BigchainDB and Multichain public witness support and integrated enterprise scanning solutions.
Block Party is a Delaware LLC that will be running at 25% Efficiency. Block Party plans to further the protocol by building IT security and supply chain management applications for Factom, initially focused on serving the Visual Effects (VFX) industry.
Blockrock Mining will initially operate at 50% Efficiency that aims to combine HVAC engineering and mining.
Building Innovation Management
Building Innovation Management Ltd is UK based company that will initially be operating at 50% Efficiency. They plan major Factom-based applications for the construction industry.
Canonical Ledgers is a LLC based in Alaska that will initially operate at 25% Efficiency. They’re already responsible for the Factom Arch Linux Repository and plan to build better user experiences of blockchain ledgers for high value industry applications.
CryptoVikings Ltd is a pure infrastructure play that will be operating at 60% Efficiency.
DBGrow is a Delaware C Corp that will initially be operating at 50% Efficiency. They plan a host of software for the Factom protocol including a Factom Dapps framework and Factom ObjectDB.
Factom Inc is essentially the original Authority Node Operator, and the CEO Paul Snow is the Chief Architect of the Factom Protocol. They will initially be running at 50% Efficiency. Their flagship product, Harmony, targets the mortgage industry and we’re sure they have much more up their sleeves.
Factomatic LLC is based in Virginia and will initially operate at 20% Efficiency. Their initial plans call for a voting app, an additional Block Explorer, and to provide consultancy services.
Factomize LLC is based out of Florida and will initially be operating at 50% Efficiency. They are the owners of this website, the unofficial Factom Community Forum, and have already developed an early build of a grant proposal system for the protocol to use if so desired.
Factoshi Ltd is a company based in the UK that will initially be operating at 50% Efficiency. They will develop data analytics and intellectual property tools that make use of the Factom blockchain.
Federate This Ltd will be incorporated in London and Dubai and initially operate at 50% Efficiency. They will be furthering the protocol in a host of ways including develop “Off-Blocks”, a software suite for the aviation industry which utilizes the Factom Protocol.
Go Immutable LLC is based in Illinois and will initially be operating at 50% Efficiency. Via their extensive network, they plan to identify what enterprise clients need and either develop requisite applications or funnel them into the Factom ecosystem.
HashNStore is a French company that will initially be operating at 40% Efficiency. HashNStore plans to target European entities for onboarding onto the Factom Protocol.
Matter of Fact
Matter of Fact is a Wyoming LLC that will initially operate at 25% Efficiency. They plan to be one of the primary marketing arms of the Factom Protocol.
NX Capital is a Puerto Rico C Corp that will initially operate at 50% Efficiency. They have a host of projects where the backend will be powered by Factom (viewable in their campaign doc) and are also providing free legal services to the Authority Set.
RewardChain is a New Zealand LLC that will be operating at 35% Efficiency. In addition to a variety of development work, they plan an ICO which may run on top of Factom. Yes, ICOs can be done on top of Factom.
Stamp-It is a Canadian corporation that will initially be operating at 50% Efficiency. They are planning to implement a host of technologies including Smart City and Financial applications for Factom.
Syncroblock LLC is incorporated in Nevada. They aim to be one of the marketing arms of the Factom Protocol.
The Factoid Authority
The Factoid Authority is Singapore C Corp that will be operating at 25% Efficiency. They plan a host of offerings including a Factom C# .net library and Streamr integration.
The high quality of these applications showcases the potential of the Factom Protocol. Eventually, there will be 44 more such entities and it will become more competitive each day. The future is looking extremely bright for the Factom Protocol.