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Author Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping  (Read 2115841 times)
tempus
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January 04, 2016, 09:34:22 PM
 #1441

Hi FACTOM community, glad to being here, but I have about the issue, rather just the number of coins?

That's the current total supply: 8,753,843

Visible if you click on the blocks: http://explorer.factom.org
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I HATE TABLES I HATE TABLES I HA(╯°□°)╯︵ ┻━┻ TABLES I HATE TABLES I HATE TABLES
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January 05, 2016, 07:42:56 AM
 #1442

Hi FACTOM community, glad to being here, but I have about the issue, rather just the number of coins?

Welcome to FCT Smiley

Please check here

http://coinmarketcap.com/currencies/factom/
FACTOM (OP)
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January 07, 2016, 03:52:47 AM
 #1443



Hurry up! There is only one day left to join the Blockchain Hackathon in Shanghai, China. Starting on January the 8th,
Wanxiang Blockchain Labs together and Deloitte are organizing the event offering on-site Blockchain experts to support
participants. It is also an excellent opportunity to meet potential business partners for your ideas. Expertise from global
blockchain, financial, venture capital and other industries will be in attendance.

There are several prizes to be won varying between 30,000 USD and 10,000 USD each totalling a whopping 100,000 USD.
The Factom team supports the event and cannot wait to see the best blockchain innovations coming to light in Shanghai.
We wish good luck to all participants.

http://blog.factom.org/post/136782408724/the-shanghai-blockchain-hackathon-is-fast
bugsywugsy
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January 07, 2016, 07:36:28 AM
 #1444

big dump on fct and panic in china. gl!

whiteorg72
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January 07, 2016, 10:29:03 AM
 #1445

big dump on fct and panic in china. gl!
complete lie  Grin
tempus
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January 07, 2016, 10:44:54 AM
 #1446

big dump on fct and panic in china. gl!
complete lie  Grin

Not a lie but not precise. In China it's about the stock-market. It crashed and after 30 minutes china halted trading. The german stock-market and other markets all over the world lost as well. That could be a reason that Bitcoin goes up and if the BTC-price rises, there is some pressure on other alts and projects.

But: I believe that Factom is one of a very few projects that would benefit from a rising Bitcoin. My logic is: A rising BTC-price is big PR for Bitcoin and Blockchain and all projects that are connected to Bitcoin - like Factom. So I won't sell because BTC goes up.

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January 07, 2016, 06:53:25 PM
 #1447

Just for fun.  Someone doing Tech Analysis on Factom:

http://themerkle.com/coins/factom-technical-analysis-for-01072016-market-turning-bearish/
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January 07, 2016, 07:39:58 PM
 #1448

Microsoft's Azure Blockchain As a Service Program Gains Momentum
http://www.nasdaq.com/article/microsofts-azure-blockchain-as-a-service-program-gains-momentum-cm562389
stoner19
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January 08, 2016, 12:51:57 AM
 #1449

If anyone is interested, I have started a #factom channel on Freenode IRC. Paul Snow has agreed to join and will answer questions when time allows. He's already answered some fantastic questions and is very responsive and thorough in his answers. Very much looking forward to learning more about Factom!

https://kiwiirc.com/client/irc.freenode.net/#factom
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January 08, 2016, 08:41:10 AM
 #1450

If anyone is interested, I have started a #factom channel on Freenode IRC. Paul Snow has agreed to join and will answer questions when time allows. He's already answered some fantastic questions and is very responsive and thorough in his answers. Very much looking forward to learning more about Factom!

https://kiwiirc.com/client/irc.freenode.net/#factom

Thanks! Much needed imo Cheesy

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January 08, 2016, 01:58:46 PM
Last edit: January 09, 2016, 08:12:00 PM by Nxtblg
 #1451

big dump on fct and panic in china. gl!

I took advantage to buy a little (more), but not much: only 0.1 BTC's worth. I decided to take my own earlier advice and dollar-cost-average in. Mebbe 0.1 BTC per week...

EDIT: I'm now up ~40% and sure enough, I'm grumbling. Roll Eyes






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...INTRODUCING WAVES........
...ULTIMATE ASSET/CUSTOM TOKEN BLOCKCHAIN PLATFORM...






whiteorg72
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January 09, 2016, 05:41:03 AM
 #1452

Factom listed on BittrexExchange
https://www.bittrex.com/Market/Index?MarketName=BTC-FCT

Unfortunately, little exchange, with little turnover Sad
tempus
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January 09, 2016, 08:42:26 AM
 #1453

Factom listed on BittrexExchange
https://www.bittrex.com/Market/Index?MarketName=BTC-FCT

Unfortunately, little exchange, with little turnover Sad

Nice! And sure, Poloniex has more volume but Bittrex isn't that small. Just not much FCT on there right now.
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January 09, 2016, 05:58:42 PM
 #1454

When will we be able to run Factom servers and what are the server requirements?
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January 09, 2016, 10:46:17 PM
 #1455

When will we be able to run Factom servers and what are the server requirements?
good question  Grin
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January 10, 2016, 01:17:20 AM
 #1456

When will we be able to run Factom servers and what are the server requirements?
good question  Grin

We are currently working on our Milestone #2 which will introduce our consensus mechanism to the Factom network. So we will have some test Federated Servers running for that, however managed by Factom.
After milestone #3 is complete, with the full network up and running, everyone will be able to setup a Federated Server and users of the network will be able to vote and elect them.
That is also when Federated Servers will start receiving rewards in factoids for their help supporting the network. Until then no more factoids will be generated.

You can currently run a test Factom server using our Sandbox below, we have various options there but not a Federated Server yet.

https://github.com/FactomProject/FactomDocs/blob/master/developerSandboxSetup.md
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January 10, 2016, 01:28:54 AM
Last edit: January 10, 2016, 02:01:41 AM by FACTOM
 #1457

We have released the FactoidPapermill app which allows you to create Factoid Addresses with their Private Keys.
It could be used as a paper wallet and the private keys can also be imported into the GUI or command-line wallet.

Find out more at: http://factom.org/howto#collapse-1-6
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January 10, 2016, 06:56:47 AM
 #1458

We have released the FactoidPapermill app which allows you to create Factoid Addresses with their Private Keys.
It could be used as a paper wallet and the private keys can also be imported into the GUI or command-line wallet.

Find out more at: http://factom.org/howto#collapse-1-6


Fantastic , thanks
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January 10, 2016, 08:54:06 AM
 #1459

We're very happy with Factom, right now. Check out this chart we made using Poloniex:


We work hard to promote Bitcoin adoption and the decentralization of society. You can support our efforts by donating BTC to 35wDNxFhDB6Ss8fgijUUpn2Yx6sggDgGqS
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January 10, 2016, 07:14:27 PM
 #1460

Quote
1. The "Factom Federated Servers": Are they somehow centralized? Can I run a Factom node? Is there a process involved in joining the Federation? .

Like in bitcoin, there will be different classes of nodes all communicating over a flood fill P2P network.  Yes, you can install a node and propagate messages around the network.  I think the question you are asking is "Can I run an authoritative node?" as in, can I be a miner.  That is a more complicated question.  You would basically need to win elections to become part of the federation.  Users who purchase entry credits are the ones who cast votes.  This is what Milestone 3 is for.


Quote
2. If Factoms are like ETH and EC's (Entry Credits) are gas, could an Ethereum dapp serve as a potentially more decentralized Factom?
hmm, interesting question.  My first reaction is: probably not.  The Ethereum VM is really slow, described as "the computing power of a 1990's mobile phone".  There will be a lot of data flowing through factom, and I don't immediately see how all the data can be put into factom, and not into ethereum's state too.  The whole point of factom is to offload data from the main blockchain.

Perhaps with something like zk-SNARK, you can put the proof of honest dealing in ethereum, but the proof would need to extend all the way down to the network card firmware to prove you weren't filtering, and would take 10000x longer than just doing the computation once.  Even then, you could probably filter (censor) before it got to your machine.  The goal is to make it censorship resistant, which is really hard.  The best we know how to do is make it expensive to censor.

I haven't though about redesigning factom as an Eth program very hard, but I would love to be proven wrong.


Quote
3. There is a Factom chain. If this chain is lost or the network should die is the data on the BTC chain still "useful"? Or to put it differently, does the data stored on the BTC chain make sense without reference to the data stored on the Factom chain?

Bitcoin is used in Factom to do multiple things.
- Prevent Factom from undetectably rewriting history.  The hashpower prevents the Federated servers from erasing history.
- Show the users of Factom that the blockchain is not forked.  It also provides a sibyl resistant communication amongst Federated servers, and to the clients.

All the user Chains in Factom are under the Merkle root placed in the bitcoin blockchain.  I think you are referring to the Factom blockchain, though.

The Federated Servers (like the miners) are only there to build the head of the blockchain, and to arbitrate between conflicting state changes.  The only state changes that the Factom servers arbitrate between relate to Factoids and Entry Credits.  After the blockchain is built, anyone can pass it around, verify it, and retain it even if the Federated Servers disappear.

This is one of the reasons why it makes sense to run your own node, to make sure you have a copy of all the data.


Quote
4. Quote from 'Factom Ledger by Consensus':

Quote
Placing Offensive or Illegal Entries into Factom
Censorship is very hard and perhaps nearly impossible in Factom.  No data in the Directory Blocks, nor the Entry Blocks will be plain text.  The Entries themselves can contain any information at all, but Entries containing offensive material can be identified and removed from any particular system using Factom.  Even though Factom secures such information, that does not mean users are forced to hold the offensive material.

So this might mean that the answer to 3 is No, but more importantly how can information be deleted and who decides what is deleted? If Factom is not censorship-resistant then this poses a problem.

Good question.  Again, it is complicated, and likely is a nomenclature issue.  This is the equivalent of saying something can be deleted from bittorrent.  Also, pruning in Bitcoin is a good analogy.  If you know about some data on your system that you don't want to retain or serve up, you can delete it from your system. 

Factom's (and blockchains in general) power is in proving the negative.  If a community agrees on the head of the blockchain, then they agree on the history taken to get there.  Everyone can examine the same history to arrive at the same state.  The problem is that forbidden knowledge may be embedded in that history.  The assumption is that this forbidden knowledge doesn't change the application state, but needs to be examined by new entrants to prove it does not affect the state.

It turns into an oracle problem at this point.

One can imagine an oracle, for example the Illegal Prime Number Detection Censorship Authority (IPNDCA) who scans the blockchain for the forbidden prime numbers.  When they find the forbidden data, they would identify it by its Entry Hash and place that into their own Chain.

If IPNDCA flags innocuous data, others in the community can present the data and the signed hash showing it was flagged and the oracle would lose credibility. 

If the forbidden data does affect the state, then the oracle probably needs to be aware of this, and communicate this appropriately.

What is more likely is that the forbidden data is there but ignored, like how some forbidden data exists in the Bitcoin blockchain, but doesn't seem to be causing legal troubles.


Thank you for the detailed reply.

forbidden data

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