Factoid - The Software Token For The Factom Network

[FACTOM]

INTRODUCING HONESTY TO RECORD KEEPING

Factom is a system for securing millions of realtime records in the blockchain with a single hash. This gives you the tools to build applications with all of the security of the blockchain without the speed, cost, or size limitations. Our goal is to involve the Bitcoin and Crypto community to engage with us, look at our work, and collaborate with developers across the industry and beyond. Factom is a next generation platform for creating enterprise tools and applications using Blockchain technology. Factom allows you to build applications on top of the Bitcoin blockchain. Factom uses a simple API that lets you build projects that were not possible   before while still harnessing the trust and security of the Blockchain. Factom is a solution to: Blockchain bloat Off chain transactions Use cases and project ideas for hashing data into the blockchain In a nutshell, what is Factom? Factom is a system to record entries in a way that makes the list unique (everyone gets the same copy) and allows anyone to add to the list, but does not allow anyone to change entries once they are in the list. As a designer of business applications, why should I consider using Factom? Factom is a method of creating an immutable audit trail. It is also a mechanism to communicate changes in a system. If your application needs a central server to coordinate processes, you might be able to eliminate the central server in favor of using Factom. Does Factom use a cryptocurrency? Yes. You can use Factoids (the Factom currency) to purchase Entry Credits with a simple transaction. The protocol does the conversion, so you effectively purchase the Entry Credits from the protocol. You assign those Entry Credits to a public key. Who controls Factom? Factom is a distributed, decentralized protocol running on top of Bitcoin. That means nobody controls it, but that it is software that people all over the world run to make the protocol work. Factom.org is releasing and maintaining the software. But the software is open source, and anyone is free to use it for any purpose. With Factom is really possible to build safer and more secure record keeping on a truly global scale. There are three types of proof that allow Factom to do that: Proof of Existence: a document existed in this form at a certain time. Proof of Process: a document existed and is linked to this new updated document. Proof of Audit: an updated document can be verified to have changed according to a set of rules. Docs & Demos WhitePaper Consensus Mechanism Paper Draft Wiki FAQ Alpha API release (v0.0.2) Factom Explorer Partners & Collaborations Announcement - Video Announcement - Video Announcement - Video Announcement - Video Announcement - Video Announcement Announcement

Factom: A Data Layer for the Blockchain

Trust is a rare commodity in today’s global economy. Yet we must trust various parties to participate in this increasingly computerized marketplace. Until recently, electronic records have been particularly hard to protect, challenging to synchronize and difficult to verify, largely because computer records are so easy to change. We use heavy regulation to try and minimize failures, and massive insurance systems to pave over the failures that none the less occur. Then Bitcoin introduced the blockchain. A blockchain is a distributed mechanism to lock in data, making it immutable, verifiable and independently auditable. The Bitcoin blockchain was used to create a secure digital currency and payment system.     But think of the benefits if you could also use the blockchain to secure and verify general purpose data! Using Factom, you can. “Bitcoin is used to transfer value between parties. With Factom we can use this powerful ledger to secure general purpose data.” Factom is most easily understood as a protocol that provides unlimited books of blank paper. Users of the protocol can take a book, label it with the title of their choice, open the book, and write on a page. When that page is submitted to Factom it cannot be altered or deleted. Nobody can back-date a page. All the data written into the book is preserved in the order it was presented to the Factom protocol. “Factom does practically nothing. But by limiting itself to simply recording and securing data, Factom enables practically anything.” Factom was designed to scale. Just like you can go into a library and select only the books that interest you, Factom allows users of the protocol to select only the books of interest to their application. Users do not have to download and process the whole library. And again, Factom is like a library. A library can support the documentation of any information at all, from fiction and romance novels, to scientific journals and history books. Factom can also support any application at all that needs to document the past. All decisions are made based on data. To defend a decision, proof is needed of the data on which a decision is based. Factom becomes the technology applications can use to validate and verify the creative process of producing art, music, and literature. It becomes the technology that allows tracking of licensing of creative works. Factom can even be used to track their use. Factom becomes the technology to secure land titles. And it does so in a way that ensures the records belong to the people. The records cannot be changed or altered without in fact adding such changes to the book. This ensures a permanent record if fraud occurs. It is said that the winners write the history books. But Factom provides the seed for a technology that does not allow for the selective recording of the past, editing of the past, or inventing the past. Factom provides the means of creating records honestly and securely. The Factom Alpha API is available today, and many developers are beginning to work with it. Open source, cryptocurrencies, and distributed applications are changing the world. This is just the beginning of their ultimate applications. The most exciting days are still ahead! by Paul Snow - Founder & CEO, Factom

Official Videos and Use Cases

	What is Factom?	How Does Factom Blockchain Technology Work?
	Saving BoA $17 Billion	Unlocking $9 Trillion in Land Value
	Protecting Sony Pictures with Blockchain Technology	Factom Transforms KYC and Keeps Private Data Private

Interviews & Related Videos

Let’s Talk Bitcoin - October 27, 2014 The Bitcoin Game #2 - Factom Epicenter Bitcoin - November 9, 2014 EB52 – Paul Snow & Peter Kirby: Factom, Proof of Existance, Proof of Process, Proof of Audit Money2020 - November 12, 2014 Tatiana Interviews Paul Snow from Factom.org Decentral Vancouver - November 13, 2014 Salon Talks w/ Peter from Factom and Andrew Wagner of Bitcoin Magazine #BlockchainBloat   Bit n Mortar - November 18, 2014 Factom interview - Solves the Bitcoin speed problem / Proof of audit Phil Maher and Paul Snow - December 4, 2014 Factom Live Hangout - 12/4/14 - Denver Bitcoin Center Ed Eykholt and Peter Kirby - December 11, 2014 Factom Presentation at the Seattle Bitcoin Meetup Ernest Hancock and Paul Snow - December 30, 2014 Freedom's Phoenix: Paul Snow Interviewed by Ernest Hancock Bitcoinist.net - January 17, 2015 TNABC 2015 - PAUL SNOW COFOUNDER FACTOM Innovating the Blockchain MadBitcoins - January 23, 2015 MadBitcoins interviews Paul Snow from Factom #BitcoinMiami2015 Chris DeRose - January 25, 2015 What is Factom? An interview with Paul Snow Coin Republic - February 2, 2015 Blockchain based document proof system Factom, at the Bitcoin Singapore Meetup in Hackerspace World Crypto Network - February 3, 2015 "Honesty is Subversive" - Interview with Paul Snow from Factom Decentral Vancouver - February 21, 2015 Salon Talks: COINFEST 2015: Vanbex Edition! Synereo, Factom, Trustatom, Etherparty, Opalcoin Bruce Fenton - February 25, 2015 Paul Snow explains Factom at the Dubai Bitcoin Conference Bruce Fenton - February 25, 2015 David Johnston Bitcoin and history and the future of the blockchain Factom Hangout - March 9, 2015 Tether + Factom Collaboration Announcement Factom Hangout - March 10, 2015 Serica + Factom Collaboration Announcement Factom Hangout - March 10, 2015 Factom Talk With D.C. Bitcoin Meetup World Bitcoin Network - March 10, 2015 Bitcoin 101 - A Million Killer Apps - Part 2 - Blockchains & A Global Shared History Factom Hangout - March 11, 2015 Coinapult + Factom Collaboration Announcement Factom Hangout - March 12, 2015 Tradle + Factom Collaboration Announcement Bitcoinist.net - March 13, 2015 Inside Bitcoins Berlin 2015 - Day 1 - Peter Kirby Factom Hangout - March 24, 2015 Texas Bitcoin Conference Hackhaton Developer Q&A

Factom in the News

The Wall Street Journal - November 5, 2014 BitBeat: Factom Touts Blockchain Tool for Keeping Record-Keepers Honest Bitcoin Magazine - November 6, 2014 Ensuring Network Scalability: How to Fight Blockchain Bloat Omni Foundation Blog - November 9, 2014 FACTOM – SIMPLE YET CRITICAL TECHNOLOGY ON MASTER PROTOCOL CoinTelegraph - November 13, 2014 This is How Factom Can Solve Blockchain’s Bloat AND Scalability Issues CryptoCoins News - November 17, 2014 FACTOM WHITEPAPER RELEASED: NEW SERVICE LEVERAGES BITCOIN BLOCKCHAIN CoinDesk - November 18, 2014 Decentralised Apps Promise New Way of Doing Business Online CoinDesk - November 19, 2014 Factom Outlines Record-Keeping Network That Utilises Bitcoin's Blockchain Brave New Coin - December 19, 2014 Factom: Digital Fingerprints Tackling Banking Fraud CryptoCoins News - December 21, 2014 WATCH A BLOCKCHAIN COMPANY SAVE BANK OF AMERICA $17 BILLION (HYPOTHETICALLY)       TechCrunch - December 26, 2014 Bitcoin 2.0 And Tokenizing The User Experience Talkera - December 20, 2014 Bitcoin 2.0 : Innovation With Sidechains AllCoins News - January 3, 2015 Q&A With Factom’s Peter Kirby – Scaling Blockchain Tech for Robust Applications CoinDesk - January, 3 2015 Crypto 2.0 in 2015: Turning Bitcoin Theory Into Big Business CoinDesk - January 4, 2015 19 Crypto 2.0 Projects to Watch in 2015 Inside Bitcoins - January 5, 2015 Bitcoin 2.0: One World, One Cryptocurrency Is ‘Unrealistic And Counter Productive’ Inside Bitcoins - January 9, 2015 How Blockchain Technology Could Revolutionize the $1.1 Trillion Insurance Industry Crypto Articles - January 11, 2015 Coin Proz co-founder Tim Frost: 2015 can be the defining year for Bitcoin FuzzieLabs - January 13, 2015 Blockchain: The real gold behind Bitcoin CryptoBiz Magazine - January 2015 Issue Factom CoinDesk - January 18, 2015 TNABC Day 1: Bitcoin Industry Undeterred Despite Price Decline O'Reilly Radar - January 21, 2015 The 3Ps of the blockchain: platforms, programs and protocols CoinsSource - January 31, 2015 Blockchain Brings the Internet of Things Financial Times - February 3, 2015 Bitcoin: possible bane of the diamond thief CoinDesk - February 15, 2015 Factom is Serious About Stopping Smart Dishwasher Fights WSJ MoneyBeat - February 19, 2015 BitBeat: Dell Takes Bitcoin Into Canada, the U.K. NewsBTC - February 26, 2015 Bitcoins and Factoids: a Symbiotic Relationship NewsBTC - March 3, 2015 EXCLUSIVE: Interview with Peter Kirby, Factom President Bitcoin Magazine - March 9, 2015 Tether + Factom Announce Collaboration Bitcoinist.net - March 9, 2015 Factom And Tether Announce Partnership Bitcoin Magazine - March 10, 2015 Serica + Factom Announce Collaboration BTCFeed - March 11, 2015 Factom, Build Applications On The Blockchain Bitcoinist.net - March 13, 2015 Tradle and Factom: Delivering Blockchain Economies Of Scale CoinReport - March 14, 2015 Factom, Tether collaborate on wallet transparency, hedging plan Bitcoinist.net - March 15, 2015 [VIDEO] Factom Partners With Coinapult As It Preps Software Sale CoinDesk - March 16, 2015 Factom Announces Launch Date for Token Crowdsale Business Insider - March 23, 2015 The 25 most exciting bitcoin startups Brave New Coin - March 25, 2015 Factom and Coinapult Partner For Token Sale All Coins News - March 26, 2015 Vaultoro, Factom Partner to Offer More Gold Market Transparency Bitcoinist.net - March 26, 2015 Factoids: The Tokens that Drive the Factom Protocol

Get in Touch

FACTOM.ORG

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[Shadow_Runner]

Is it alt.coin?

[FACTOM]

Is it alt.coin?

It's a token that grants you access to the Factom Software and Network.

[sologap]

reading.. too much to read..   can we mine this or ICO ? can we make money using Factom Software and Network. ?

[FACTOM]

reading.. too much to read..   can we mine this or ICO ? can we make money using Factom Software and Network. ?

There is no mining on the Factom Network, we will host a Factoid Software Sale via Koinify starting from March 31st and yes if you share your computing power and resources on the network you will be able to earn Factoids.

[Joerii]

I'm working as a community leader and video artist for Factom and I must say it's the most professional team I've ever worked with in this space.
A very exciting month is ahead.

[gjhiggins]

The factom.org team page references a “Chairman of the Board”, implying that there is a registered legal entity behind the scenes. Is that the case? if so, could you indicate the country of registration and the registration id?

TIA

Cheers

Graham

[TomKoinify]

As stated in the OP, we will be hosting Factom's upcoming software sale. We are free and open to answering or discussing any questions, comments or concerns from Koinify's end.

[rich93]

I'm sure I have heard of similar systems already running. What's different about Factoid?

[chocobo]

So is the software sale an ICO for the tokens?

[djohnston]

"The factom.org team page references a “Chairman of the Board”, implying that there is a registered legal entity behind the scenes. Is that the case? if so, could you indicate the country of registration and the registration id?"
TIA Cheers Graham
_________________________________

Graham, Thanks for the question.

Factom is going to be making an announcement before the software sale about the jurisdiction it has selected for the non profit Factom Foundation's incorporation. In short, the team has evaluated jurisdictions around the world that are progressive about new financial technologies and talked with experts about the selection.

[FACTOM]

Is Factom going to have a staged token sale like Gems did?  Gems was 17250=1 bitcoin on first day and 10000= 1 bitcoin on last day. Is Factom going to be similar?

More details will be available before the beginning of the sale. Stay tuned.

[FACTOM]

I am very excited for the sale. I have cashed out all my altcoins in anticipation!

We thank you for the support. 

[FACTOM]

We are pleased to announce a collaboration between Vaultoro + Factom.
Read the details on our blog.
We have hosted a Hangout with the founders of both teams which you can watch below.

[Fielding]

it's a nice Project.

[zrunfeng]

i would like to take part in the project

[FACTOM]

Our project page on Koinify is now live for more info.

koinify.com/#/project/FACTOM

[zrunfeng]

i wonder how many btc would the project gets?

[FACTOM]

We are pleased to announce a collaboration between Rivetz + Factom.
 
Read the details on our blog.

[Joerii]

We are pleased to announce a collaboration between Vaultoro + Factom.
Read the details on our blog.
We have hosted a Hangout with the founders of both teams which you can watch below.

This is really cool. I use Vaultoro, it's a great way to protect your capital from taking a plunge when bitcoin drops in value.