Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping - page 399. (Read 2115876 times)

no, simply eobot is a cloud mining, mining bitcoin and pay in different coin (exchange the mined bitcoin in other coin) , but is unprofittable

They can't mine Factoids. But what they can do is to pay Miners with FCT's. 

Pacxoдимcя-нac нae*aли =)))

Eobot supports mining for Factom!
https://www.eobot.com/fct

Which factom on mining? It's a scam ?!

I'm not sure you're right with "hope they get more active soon" as if they wouldn't be active. We had two big news in the last two weeks and they don't come out of nothing. The chinese exchange was perfect for the price and Azure is even bigger. Azure could be very interesting also for some natural FCT-demand:

* Bitcoin data service of prices from different exchanges recorded on Factom's Blockchain - Q1 2016
https://azure.microsoft.com/en-us/blog/azure-baas-update-2/

It will need some Entrys to record the BTC-price.

And regarding development: It would be a mistake to rush things out like it's too often done in little projects. A project like Factom needs a stable base like a rock.  

You can safely ignore the config file error if you just want to use the defaults.  If you are doing any development, you might want to setup a sandbox, which would need the config file. 

https://github.com/FactomProject/FactomDocs/blob/master/developerSandboxSetup.md

Thank's for the help, now when running the walletapp after running the factomd program, the CLI outputs the following "ERROR Reading config file!" I've tried doing a search on my drives, seems the file does not exist.

Is there something I need to do that I'm missing?

You may want to look at Brian Deery's reply few posts above. Thanks.

Can we get a yes or no to the rumor that Milestone 2 release candidate is to be released by years end? Hearing chatter on Polo last few days with no source...

I am wondering if the Team CARES for day to day Price Movement

If not atleast an update is required to ensure the price of coin grows n gets stabled against calm environment

im happy with any info cause now it seems like nothing happens at all , hope they get more active soon

Should this be in Service Discussion now?  Seems a little past the "project development" stage.

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.


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.



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.



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.

kodeon.CEO, please check your "MY MESSAGES" tab at the top of the page.

I think that Paul's comment on the AMA is getting totally blown out of proportion.  Granted, we are calling it Release Candidate 1, which is a bad name.  It probably conveys more quality than you should expect.



This was not an announcement.  It was an internal target to aim at, not something that we expect the community to rely on.  This was from an "Ask Me Anything" session.  A predictive answer was given, not a binding announcement.


Lets make sure we temper expectations.  At best we will be showing off a developer preview.  It is far from being ready to switch the network over and start using.  It will be enough for structures to be built with optimal network communications.  It will probably perform poorly with sub-optimal network communications, i.e. on the internet.

It is primarily for our internal testing team to have something to start poking at.



That being said, now is a good time to start asking for Milestone 2 Community Testers.  Please email me at [email protected] if you would like to help test Milestone 2 Release Candidates. 

The complexity to get it installed is probably about as difficult as this one for Milestone 1: https://github.com/FactomProject/FactomDocs/blob/master/communityTesterDirections.md

I know that this is a long term project. I say 3 days, because before it was announced that the first release candidate of Milestone2 will be released before the end of this 2015 year, before the end of the year there were only 3 days. Developers Factom have schedule future works which they generally adhere.
In the next 5 years, I'm not going to sell my FCT coins.

Why do we need to see anything in the next 3 days? Factom isn't a get rich quick project. Sounds to me like u will sell if you see a 1sat decline in price. Please do it, cos I will certainly buy them.

Factom, BrianDeery
Why 4 consecutive days do not pass the work on the development of Milestone2? Have everything ready?
We will see the first release candidate Milestone2 in the next 3 days? https://github.com/FactomProject/

Hi AlanX thanks for looking into it, do you have any news on the issue? Tried re-downloading the software but still seem to be having the same problem.

Thanks for your quick reply. I take it you are the same Brian Deery whose name appears in the Factom papers.
A pleasure to meet you.

I'm reading the papers now and my main questions are:

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

2. If Factoms are like ETH and EC's (Entry Credits) are gas, could an Ethereum dapp serve as a potentially more decentralized Factom?

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?

And finally (apologies for the mini-deluge)

4. Quote from 'Factom Ledger by Consensus':


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.


Thanks in advance for taking time to answer these questions