Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping - page 211. (Read 2115900 times)

From the way I understand it, factom inserts a hash stating that a record exists but the actual record is kept off the blockchain?  I might have this wrong.  I read the whitepaper.  Are the actual documents, i.e. videos, files, etc kept on Factom servers?  Thanks. 

Is it just me, or has the FCT sell-side been looking increasingly anemic? Anyone been keeping track of the total buy/sell orders over the past few days?

True, if you are in for the long term, stop looking at quotation every minutes ... Best way to panic

1.   First of all, I focus on technology development.  Secondly, decisions about fundraising and finance tend to be things we can't talk about until decisions are made.

2.  We are not able to facilitate block trades of FCT.  Our focus needs to be on technology development.  

3.  We are aware of the announcements coming out of Dubai, and we are looking into those opportunities.

Paul

Maybe you should stop encouraging the manipulator.

Damn, you was faster. ;-) 

I also wanted to ask Nr 3 because I've read that article which is really interesting. And: Paul Snow was in Dubai in 2015 (see comment below: "This is from Dubai Bitcoin Conference"):

https://www.reddit.com/r/Bitcoin/comments/2x8cbd/paul_snow_explains_factom_and_why_its_important/

Few questions for Paul:

1. Will you guys be doing another bnktothefuture campaign in the near future?

2. Are you willing/able to help facilitate block-trades of FCT, i.e. if I wanted to buy a significant amount OTC from a dev or another early investor?

3. Have you guys been looking into Dubai (I assume you've read the recent news)?

Keep up the good work!

Doubles? Why sell anything before 0.05?

Another message to the manipulator who s constantly trying to activate as much as possible sell triggers by staging these fake dumps:

I        AM         NOT       SELLING        UNTILL         THE       PRICE        AT     LEAST    DOUBLES        SO    GO   SUCK    A    DICK!


Sincerely,

Crazyivan

D-Lux,

my question would be something along these lines:

After M3 is released and everything is up and running, what sort of demand for entry credits on a monthly basis does factom believe is achievable and attainable. I guess I'm asking, what is their yardstick for success in terms of entry credit demand.

Many many thanks if you can ask this on my behalf. I think this info is crucial for hodlers of factoids.

All the best

There s a button for that. Please use it.

you start to annoy me.

D-lux, question for Paul I think we all care about a lot.

Will M2 be available during Q4 of 2016? If yes, can he specify expected month. Since we have 2.5 months till the end of the year, this should not be a big time speculation on his behalf.

Thx for making this possible D-lux.

Mental note: read all the comments before commenting yourself

Thank you Brian for your time and patience.  It is much appreciated.

Sounds tremendous.
Its wonderful that Factom employees drop in here to clear things up also, hope people realise they do have dayjobs.

Going to be greedy and ask 2 questions, one was alluded to in another forum which Brian seemed to get the meaning of:

• Could Factom be censored? Don't mean someone randomly spamming my chain with nonsense, I mean an activist in Egypt photographing injustices, expensive as it is to store photos on Factom, it's a price some would be very willing to pay, even twitter routinely censors journalists geographically at the request of governments.
  Once anchored, it's there right? Everything suggests so, just would like to hear thoughts from the top. Also, if the Factom network went down how easy would it be for say a BBC Journo to get this hypothetical photo from the bitcoin blockchain instead?
  https://www.washingtonpost.com/opinions/twitter-shouldnt-let-itself-become-a-tool-for-tyrants/2016/10/06/236b5684-8a65-11e6-b24f-a7f89eb68887_story.html
  
  
• The Ethereum network has been under attack for weeks now. How much stress testing have you guys done? I see stress testing for massive amounts of entries on github, but what about get data requests? and are there plans for bug bounties?

Yeah, there's possibly more than two questions there, I'm just going to ignore that fact.

Really good article also, recommended reading.

This is pretty much right, but a few details need correcting.  Think of the Federated servers like you think of bitcoin mining pools.  They are the authorities of how transactions get ordered in the system.  They all work together to build the blockchain.  There can be thousands of bitcoin nodes in the system, that also see all the data.  The bitcoin nodes see all the pending unconfirmed transactions, then after the miners order the transactions, all the nodes save the block which sets the ordering.  It is similar with factom.  All the nodes will see all the data, just like bitcoin.  Unlike bitcoin, the authorities are known in advance, so the order can be determined in real time, instead of probabilistically after the fact.  This gives faster response time.  Like the bitcoin miners, the servers will run the same code as all the other nodes.

Unlike ethereum or even bitcoin, factom nodes & servers do very little validation.  All that is checked is if data was paid for before putting it in the blockchain.  This is in contrast to something Turing complete, or even with a simple script like bitcoin.  All the validation for an application will be done on the client side, rather than on the servers.  Here is a comparison of the approaches: https://www.youtube.com/watch?v=naKvYfYsBQo&feature=youtu.be&t=3476

Even with a very high transaction usage, the bandwidth required will be about that of a High Definition movie or two.  

https://bitcointalksearch.org/topic/m.13588841

When the system starts to process more transactions than the average node bandwidth can handle, that is where the p2p network sharding comes into effect.  Since all entries in the system need to declare a ChainID, then there is room for lots of parallelism.  We are anticipating this.  For example, Identities are a big part of how the servers will be chosen and managed.  They are forced to start with 0x888888 to be valid by using brute force hashing.  https://github.com/FactomProject/FactomDocs/blob/master/Identity.md#factom-identity-chain-creation  This will put all identities into an easily identifiable network shard.  Since most people won't care about other people's applications, they only join the network shard that handles their application.  The shard is there for real time communication.  After the blocks are made, everyone needs the directory blocks, but you would only download the entry blocks and entries related to your application.  For now everyone downloads everything.

Myfarm's conclusion about the federated servers being more powerful than nodes will come about if they span different network shards.

We will have 32 federated servers for M3.  More than that and we probably would have coordination issues.  

I understand.  You'll never see that in the USA.  Very different cultures.

For the record, I like your contributions to this thread.  We differ in opinion in some areas, including this one, but that's ok.  

If you'd like to opt out of the Factom share sale, I'll purchase your shares at what you paid for them.  If I knew Draper was buying in, I would have got off my ass and purchased some as well.  I've retired from that arena but I would still follow Draper or Sequioa Capital just about anywhere.

We have a different view about corporate responsability. In Japan you would see the CEO make a press conference, apologize and bow down deeply in front of TV and cameras, and offer compensation to investors

one such compensation may include the option to opt out.

From Factom?  No.