Technical Update: Factom Genesis

By Nicola Minichiello – Communications

Tech Update Genesis

The live Factom Genesis version is being rolled out this week. This will be a step by step launch where the Factom client and related software is released over the course of the coming weeks. The 1st federated server will go live with the Genesis block, then Factom beta testers / early adopters can begin downloading the Factom Genesis client to their computers, then the broader community can begin checking their Factoid balances on the Factom Explorer website and users can begin making entries into the Factom Network.

We will be continuing to update the Factom software running on the 1st federated server as we move forward on a weekly basis. We will also be monitoring the flow of entries into the Factom Genesis network and expanding capacity as needed. As our code base matures, we will begin the process of adding servers run by other parties.

Here is the documentation for early adopters / testers to download Factom. The Factoid wallet is a command line interface only and initially the installation will be a bit technical. This will be improving over the coming weeks as we fine tune the installation process. Factoids can be sent between peers who have their Factoid wallet installed. Exchanges will need to update their Factom clients to the new Factom Genesis version to support Factoids on their systems.

If you purchased your Factoids through the Koinify website, you can enter the 12 words (that you wrote down during the purchase process) into the Factom command line wallet to generate your addresses (don’t give anyone else your 12 words, these are your password!). You can use your public key and the Factom Explorer to check your balance of factoids. The Factom core development team will be rolling out additional methods to generate your public key.

Ask Your Questions
We will be hosting a Zapchain Q&A about Factom Genesis at 2pm CDT. We have bounties for questions. Bring us great ones to be tipped.

Our community leaders are invited to our skype call at 3pm CDT. We will be updating everyone about this newest development.  

We are hosting a gathering at our office in Austin this evening, RSVP Here.

We will also be broadcasting a video of Paul and Peter speaking about Factom Genesis. We will be posing the link on Twitter and Facebook.

What We Are Factomizing First
To celebrate Factom Genesis, we have used the Factom Network to anchor and secure “The Universal Declaration of Human Rights” in 443 different translations to the bitcoin blockchain. We will be securing more historically significant documents on an ongoing basis.

The Factom Genesis platform allows identity, sensitive corporate records, and much more to be “Factomized” into the blockchain for iron-clad security and unbreakable records. A world with greater transparency and accountability is on our doorstep. Blockchain technology is changing every industry it touches.

Factom Genesis allows everyone to piggyback off of the security of the blockchain. Identity, sensitive corporate records, titles and all the books in Gutenberg Library have already been Factomized using the Alpha version of our software. What will you Factomize?

Other Announcements
The Plug and Play Accelerator, Factom and BitPesa have partnered with nonprofits, the BitGive Foundation and The Water Project. As a pilot project, they are using Factom tech and the blockchain to create radical transparency in how donor funds are being used in Africa to provide safe water. By tracking donations through the blockchain and Factom, they aim to introduce a new level of transparency that will bring real-time assurances that money donated to accomplish a particular mission are doing just that.

We are also proud to announce that our sister entity Factom Inc. has joined the fall class at the fintech incubator at Plug and Play. They are a platform for innovation that connects forward-thinking corporations with startups that are influencing the financial industries. Factom Inc. was selected from around 1,000 fintech startup applications from across the world. As part of this program Factom Inc. will have access to USAA, Citi Ventures, CapitalOne, Deutsche Bank, JCB, Banco Original, Intuit, Assurant.

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