Austin, TX (December 20, 2016) – The Factom Foundation began with the idea that unchangeable data and audit trails are the foundation for building tools that let people operate freely and with greater trust. Two years later, we are pleased to announce 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. We have spent the past year developing and testing our decentralized and federated blockchain. We are now ready to share it with the world.
“It has been inspiring and affirming to have a large community of like-minded individuals that have supported us as we built this amazing technology,” said Paul Snow, Co-founder and Chief Architect of Factom Foundation.
Factom Federation is the second major release of the core Factom software. It includes several protocol changes and a networking change that gives us the ability to further upgrade 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 Ethereum network.
Factom Federation is a significant upgrade from Factom Genesis. We will be rolling out Factom Federation and migrating our users, clients, and customers over the next few weeks.
About Factom Foundation, Inc.
The Factom Foundation is dedicated to developing and shepherding the Factom open source protocol. The Foundation’s mission is to promote transparency and honesty via immutability because we believe that people and institutions can solve hard problems and bring positive change when they have a reliable framework to build upon.