is this a p2p network? It seems like it is not? Or is that what is mean by nodes?
I'm not missing the point that bitcoin may be more secure than viacoin, which by the way is now merged mined. I don't think that this is a big sales point as any reasonable secure blockchain network is better than a human being time-stamping a document. Additionally, however, there are no court cases as far as I know which have set any precedent for equating block chain based time stamps to traditionally notarized documents. Although perhaps in some recent criminal cases they may have used it as evidence that certain transactions occurred.
Yes, it is Peer-to-Peer. Anyone can join in.
In order to power this network, Factom plans to deploy a P2P network of nodes that act as global mechanisms for keeping the system running and efficiently processing Chain updates. Fueling the top-level system will be in-house tokens known as factoids that will be exchanged for Entry Credits that are then used to input data into the system.
Source:
http://www.coindesk.com/factom-white-paper-outlines-record-keeping-layer-bitcoin/It doesn't matter if Viacoin is merge mined. This isn't about being better than a human being nor is it about setting a precedent - It is already quite obvious that this method of trusted timestamping is fundamentally sound and will be universally accepted just like digital signatures have been -
https://en.wikipedia.org/wiki/Digital_signatures_and_law.
This is all about making a user-friendly (and enterprise-friendly) system. I already use Proof of Existence (and my own version of Proof of Process) daily in a Research and Development environment. When something like Factom is set up, it will be used by many.
you are wrong it has everything to do with how it is integrated into the current structures of civil society. just because something is obvious to you, does not make it so for 99% of the rest of the world's population.
any yes it does matter if viacoin is merge mined, and while one via tx block is less secure than a bitcoin block, within the space of 10 minutes a chain of many blocks can be more secure than 1 block.
anyway btc has its own problems of the monopolistic miner scaling problem that risks its security, so no one can safely say this experiment is the most secure chain free of risking transactional integrity yet, only time will prove that.
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