Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping - page 463. (Read 2115876 times)

They are partnering with Koinify for their Token Sale. If you read a few posts above it shouldn't be much longer.
Also looking forward to this! Factom to the moon!

Absolutely! This is more great news.

This is an excellent video!

Great to see Factom get its rightful praise!! Really exiting times we're living in.

it's a great Project.

Will watch this for sure.

Very nice!  Keep those news coming, don't be like mastercoin ("we're working in the background, we're doing many things but no one knows that..").. 

Coinapult partnership looks great.

Glad there's a partner for hedging, and coinapult is willing to open their books and be more transparent.

I'm just starting to read about Factom, so forgive me if I'm missing something obvious.

So far I understand the following, please correct me if I'm wrong (which I probably am) on any of these points:

• the top n servers are the network
• Those n servers can vote each other out of the network (via SFM)
• There's no penalty for posting false SFMs

As I understand these properties, there is no incentive for a server not to send SFMs for every other node in the network, every block. I can't directly gain by increasing my share of the return, but I also can't lose. If I create many identities and many servers, there is a chance, no matter how small, that I will eventually be elected as a majority of nodes if enough nodes get voted out. The counterbalance to this, as I understand it, is community review.

People who control factoids get to vote for "well behaved" servers, so they are unlikely to vote for a server which constantly SFMs every other server. Is that the only defence against this behaviour?

It seems like at its heart, the factom consensus model comes down to starting with a "trusted" group of servers, and all trust stems from there. If the majority of those nodes are malicious, they can control the network ad infinitum. That is true because factom servers have to accept voting transactions. So a majority of servers could collude and decide to reject any votes that change the balance of power.

I'm also thinking that if I can DOS a single node in the network, I can push it out of the federated servers list. If I have sufficient network power to do that, I can seed the network with 100 of my own nodes, and then DOS each node in turn until it gets excluded from the network (for a few hours). If I can get every node above me excluded within those few hours, I can now control the network. I guess I can't change people's votes here, but I could continually SFM the servers as they come back online, and keep them all out of the network indefinitely.

Hmm, seems like a few attack vectors, but I'm probably misunderstanding the protocol.

Cool new video from factom - Serica's Taariq Lewis and Factom's Peter Kirby talk Proof of Gold Existence
https://www.youtube.com/watch?v=eboYWmIAeJM&feature=youtu.be

Cool announcement, I told bitreserve a while back to do something similar to tether using their reserve chain.

It's being finalized, we want to make sure all details are taken care of.
We will post announcements on all our channels when we get closer to the time.
Thank you for the support. 

Any update on the ITO? This looks awesome...

Thank you for the share will add to articles list! 

We also interviewed Peter Kirby recently. Sorry for the forward questions

http://www.newsbtc.com/2015/03/03/peter-kirby-interview/

Andrew wrote a good article explaining how Bitcoin and Factom complement each other: http://newsbtc.com/2015/02/26/bitcoins-factoids-symbiosis/. A lot of Bitcoiners get worried about altcoins draining Bitcoin's market cap, bu it should really add value in the end via these new use cases.

This is great. Thanks for the update!