Blockchain Startup Factom Foundation Releases Next Version of its Software – Factom Federation

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The Factom Foundation began with the idea that unchangeable data and audit trails are the foundation for building tools that lets us operate more freely and with greater trust in the world. Two years later, they have announced the release of the Factom Federation network. The design and features of this release represent the next generation in the evolution of the Factom Blockchain.

They have spent the last year developing and testing their decentralized and federated Blockchain.

“It has been inspiring and affirming to have a large community of like-minded individuals that has support us as we built this amazing technology,” said Paul Snow, Co-founder and Chief Architect of Factom Foundation.

The Factom Federation is the second major version release of the core Factom software. It includes several protocol changes and a networking change that gives Factom the ability to do further upgrades on the following:

  • Eight Federated Servers – Increased censorship resistance and globally distributed.
  • Eight Auditing Servers – 8 new auditing servers supporting the network.
  • Confirmations In Seconds Instead of Minutes – 600X improvement
  • More Transactions Per Second – 5X improvement.
  • Merkle Proofs More Accessible – Proof of Existence made easy with the factomd API.
  • Distributed Peer to Peer Network – Resistant to denial of service type attacks.
  • Graphic Control Panel For Nodes – Easily see the activities of the Factom network.
  • BIP 44 Wallet Support – Factoids can now be integrated into a wider range of wallets.
  • Robust Testing Infrastructure – New public test net and suite of testing tools.
  • Support For Multiple Blockchains – Bitcoin and now the Ethereum network.

The Factom Foundation is dedicated to building and safeguarding the open source Factom protocol. They are on a mission to make the world’s systems honest. People and institutions today can solve hard problems and change the world for the better when they have a reliable framework to build upon.

About Richard Kastelein

Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC. Kastelein is also an advisor with a number Blockchain startups doing ICOs including Humaniq.co where hs is interim CMO, DECENT.ch, Inchain, Chronobank, eGaas and others. He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List.

As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

He’s also a director of a Dutch foundation called The Hackitarians and has run innovation events in London, San Francisco, Berlin, Amsterdam and other cities around the world on topics such Blockchain, Health, Energy, Internet of Things, AI etc.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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