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 of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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