Grant Update – July 2018

Uncategorized | August 13, 2018
Home » Company » Blog » Grant Update – July 2018

Outputs and Outcomes

Our focus is to:

  • Improve the performance and reliability of the Protocol
  • Drive awareness of, and market demand for, the Protocol
  • Provide ability to monitor the exchange rate and make adjustments as needed
  • Make improvements to the Anchor Master allowing Factom to remain competitive and relevant in the marketplace.

Grants: Protocol Grant   |   Oracle Grant   | Anchor Grant

Status and Achievements


Over the last month we’ve been planning and refining the strategy, tactics, resources, and budget needed to achieve the marketing goals of the grant.  We attended three events in June / July.

New capabilities

  • New API Endpoints requested by an Exchange – Development Complete, QA/Debugging In Progress. (Protocol Grant)

Human Resource

  • We added two engineers: Sam Barnes and Josh Brigati

Work Completed

New capabilities

  • Code to create and allocate Factoids for Grant payout (Protocol Grant)
  • Development analysis on Ethereum Anchoring (Anchor Grant)


  • Mainnet Outage – July 18 2018 – Due to faulting as a result of an entry credit balance bug
  • Mainnet Outage – July 30 2018 – Not all DBSigs were processing (13/15)
  • Mainnet Outage – July 31 2018 – Incomplete downgrade from grant deployment
  • Maintain and managed the Bitcoin Anchoring Software (Anchor Master Grant)
  • Continuous monitoring and adjustment of exchange rate as needed (Oracle Grant)


Previous Period Progress on Success Criteria:

  • Improved Performance
  • Cleanup – simplifying code paths, refactoring code
  • Stability – correction of fastboot problems and EC balances 

Lessons Learned

Organizational learnings:

  • Reduce single point of failure risks by cross training and hiring additional developers
  • Hackathons are a great venue to find and evaluate staffing candidates

Technology learnings:

  • Dollar-denominated grants more difficult than anticipated due to the need to find an agreed-upon Oracle with the ability to manage Factom to USD exchange rate appropriately.
  • Hard-coded grants are undesirable because the exchange rate is coded into the blockchain more than a week before payouts and future price fluctuations are difficult to manage.  

Future Plans

Protocol Grant

  • Refactored code to improve transactions per second.
  • Refactored code to reduce number of missing messages.
  • API for network diagnostics
  • Enable the ability to count votes of standing parties
  • Descoped Items for this Grant Period
    • Support of internal sharding
    • Coinbase cancel UI
    • Improved support structure for Factom Guides and ANO’s

Oracle Grant

  • Improvements to Rate Change Log allowing validation against historical data
  • Rate change alerts

Anchor Grant

  • Ethereum Anchors


POSTED: August 13, 2018 BY Kevin Casper IN Uncategorized

Factom Inc's community manager, carrying a load of marketing operations experience from the enterprise tech and video gaming industries.