Factom launches Milestone 3: Fully Autonomous Protocol
By Courtney Roberts – Digital Communications Manager
Austin, TX (May 3, 2018) - Factom has been on a four year journey. A journey of discovery, challenges and monumental innovation. These years of work have culminated into the third and final milestone of the Factom Protocol, a fully distributed and autonomous blockchain protocol without any central control.
This is the third and final milestone for the Factom Blockchain Protocol as outlined in the white paper. Using a distributed consensus model that combines elements of proof of stake, proof of usage and additional anchoring to provide proof of work. The Factom network is able to balance power within the system, disallowing people to gain 51% of power to then control the network. Factom began with the idea that unchangeable data and audit trails are the foundation for supporting the enterprise markets in the use of Blockchain technology.
The "Federated" version of the Factom network (previously known as "M2") was the second major version of the Factom open source software. The first version Factom "Genesis" has been live over 2 years since September 1, 2015. The Genesis version bootstrapped the Factom network with 1 Federated Server providing the anchors into Bitcoin, and anyone could run a node.
“I really need sleep,” said Paul Snow, CEO and Chief Architect of Factom. “Our team of developers have been working around the clock to make M3 happen and we’re thrilled M3 is finally a reality.”
M3 includes several protocol changes and a networking change. The full Factom Governance document can be found here.
About Factom, Inc.
Factom, Inc. is an Austin-based blockchain technology company that is on a mission to provide blockchain data provenance for complex industries. Factom specializes in building scalable blockchain technology to handle complex enterprise data and volume. With clients such as the U.S. Department of Homeland Security and the Bill and Melinda Gates Foundation, Factom is the recognized leader in providing blockchain solutions in order to preserve, ensure and validate digital assets. For information, please visit factom.com.
https://www.factom.com/blog/factom-launches-milestone-3-fully-autonomous-protocol
Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping - page 13. (Read 2115931 times)
someone in the know why the purse is closed on Polonieks within a month?
No. The question was asked on Reddit and even Paul Snow doesn't understand it. He said:
Poloniex has disabled FCT, and put up that notice. There is no known issue on the protocol side that is blocking them.
https://www.reddit.com/r/factom/comments/8fsvpd/whats_up_with_poloniex_on_frequent_maintenance/
Would be good if many open a support ticket. Actually I'm surprised that it's not more of a topic. I personally don't use Polo anymore because I don't trust them anymore.
someone in the know why the purse is closed on Polonieks within a month?
I'm quickening the momentum above the previous highs in bitcoin
So M3 was released without a hitch and all is well now in terms of decentralisation
Yes, everything is fine, but at a price this does not affect(((Get used to it...most alts have broken their downtrend and are starting to move to the upside, seeing 15-30% gains in days...with minuscule announcements or development
Meanwhile factom's price action remains an enigma
This is really a good example of why its important to stay diversified.
So M3 was released without a hitch and all is well now in terms of decentralisation
Yes, everything is fine, but at a price this does not affect(((
was the launch of m3 but at a price it did not show any good momentum, the team should start promoting the coin!
As usual in these days most of the ICOs are scam , they take investment and after that scam the people but few of them get successful , so it is much better to get free tocken from every airdrop without seeing whether you will get something or nothing .
This is another thing you seem to forget. The cost for businesses to use Factom is irrespective of the token price. They pay a constant amount per KiB of data. This is the beauty of the system. Multinational companies do not need to speculate on the token to use the system. It can be used as pure fintech software for them.
Right, plus: Zero regulatory barriers because no client needs to touch Crypto at all.
This is another thing you seem to forget. The cost for businesses to use Factom is irrespective of the token price. They pay a constant amount per KiB of data. This is the beauty of the system. Multinational companies do not need to speculate on the token to use the system. It can be used as pure fintech software for them.
Come on factom !!! We believe. This is a good start, it will be great. And prices will go up but keep abreast with bitcoin price stability.
There is no road map. only upto authority nodes, that this Guides and the rest of the community to collectively defined what happens next.
So M3 was released without a hitch and all is well now in terms of decentralisation
Factom will be undergoing a major software update this weekend with the release of M3 (roadmap: http://bit.ly/2HCVTnJ ). You can keep an eye on the Factom status here: http://bit.ly/2HArYwK
It's happening... M3! That will open some new doors.
Finally, time for the next step, everyone has been waiting so long for this!
lol...jesus fuck talk about finally for this coin. i traded this one up/down thru the pnd during bullseason...made money but bagheld too and got rid of it. sorry can't be bothered to get into it as it's a once a year move on this coin....zzzzzzzzzzzzzz
Well they are actually right on their intended target for rolling out M3 which is better than most crypto projects who continually push their release dates...
But in regards to your last sentence....."zzzzzzzzzzzzzzz" is the best way to describe what the price action is like
I still love the project and the company though....pro bagholder 4 life
Second that, it would be appreciated to have a GUI Wallet as soon as possible, so we can get our Factoms off of Koinify and secure them. It might help Factom as a project, too, you would not want people to start dumping their coins on any exchange that offers a simple tool, like what's happening now for Ether/Kraken. If you offer a good Wallet, people will probably feel more secure and hold their Factoms longer.
There must be a Windows wallet for Factom.
Where can I find it?
Where can I find it?
There is, its called the enterprise wallet and unfortunately it is kind of difficult to find. The link below will get you to the page you need. For windows you will have to scroll way down through the instructions to find it.
https://docs.factom.com/#windows
Keep in mind that this wallet is compatible with M2 and M3 is coming soon, but I believe the last time they updated the enterprise wallet they integrated the option to encrypt which is nice of course.
Also if you have any issues remember they are on discord now, its pretty active in there.
https://www.factom.com/blog/factom-community-moving-to-discord-on-march-19
Good luck
There you go, all info you need is above, you can now encrypt the wallet, which isnt saying a whole lot but the company is more focused on getting the protocol ready for enterprise use...not tailor a wallet to the avg crypto holder.
FCT is very undervalued still after all these years, the fact you can still grab FCT at almost the same levels as years ago tells you that.
Factom will be undergoing a major software update this weekend with the release of M3 (roadmap: http://bit.ly/2HCVTnJ ). You can keep an eye on the Factom status here: http://bit.ly/2HArYwK
It's happening... M3! That will open some new doors.
Finally, time for the next step, everyone has been waiting so long for this!
lol...jesus fuck talk about finally for this coin. i traded this one up/down thru the pnd during bullseason...made money but bagheld too and got rid of it. sorry can't be bothered to get into it as it's a once a year move on this coin....zzzzzzzzzzzzzz
Second that, it would be appreciated to have a GUI Wallet as soon as possible, so we can get our Factoms off of Koinify and secure them. It might help Factom as a project, too, you would not want people to start dumping their coins on any exchange that offers a simple tool, like what's happening now for Ether/Kraken. If you offer a good Wallet, people will probably feel more secure and hold their Factoms longer.
It's great ya but this is only the beginning...
My prediction? A possible 5% swing in price while maintaining the same 30 day trading volume average
Still a long way to go before price reflects tech in my opinion.
I also doubt that the release itself will move the price significantly if at all. The release itself is not surprising - I'm more surprised that there is no delay this time. ;-)
But, Factom becomes decentralized now and after M3 it may big steps towards real business-adoption and there are several signs that they already have a lot in the pipeline.
Yup all the signs of REAL adoption are there, and there is probably a lot that we still don't know about as far as partnerships and deals.
What leaves me flabbergasted is that this is the BIGGEST milestone in the projects history. To finally roll out the protocol across a distributed network and be able to present it to businesses as a real decentralized solution to record keeping.
Yet there is no change in volume, price has actually been going down and there is no new activity on twitter besides the normal supporters.....but I will continue to hold my FCT because I am well above break even (since the BTC i invested is worth so much more now) and because I truly believe that when the wider majority of crypto speculators finally see whats going on with factom it could make for a speculator frenzy.
But I guess at the end of the day from a long term speculators perspective, people will be making entries and will have to burn factoids....so hopefully in time price will reflect that. We will see.
Jump to: