TAU-CHAIN – Programmable decentralized P2P network based on ontologies and reasoning

By Judith Jakubovics- BizDev at the Omni Foundation

Dear Omnis

It’s turning out to be another exciting and productive week! The Omni Foundation is privileged to provide a platform to so many innovative projects.  Omni allows for the issuance of Smart Properties and assets on the Bitcoin blockchain, and we like to share some of the leading projects using the platform and protocol.

Today, I would like to introduce TAU CHAIN

download

 

 

“If law-making is a game, then it is a game in which changing the rules is a move.” – Peter Suber presenting Nomic

Tau-chain is a fully decentralized P2P network being a generalization of many centralized and decentralized P2P networks, including the Blockchain. Its interpretations, uses, and consequences are far from being a P2P network only, and include software development, legal, gaming, mathematics and sciences, logic, crypto-economies, social networks, rule-making, democracy and votes, software repositories (like decentralized Github+Appstore/Google Play), decentralized storage, software approval and verification, even “doing your homework in History or Math” in some sense (stronger sense that search engines), and many more aspects.

Tau Chain uses the language of Ontologies to unify the languages of:

  • Knowledge
  • Rules
  • Logic
  • Computer Programs
  • Network Protocols

The Software Client

a) Stores the ontology of local rules

b) Determines the actions using a REASONER

Reasoners

a) Are tools that infer new rules or conclusions based on old ones

b) This is done intelligently, using pure logical reasoning + supply proofs of the                  results.

TAU CHAIN NODE – is therefore, an intelligent agent that is able to communicate with other agents, at the very same language which is human readable.

TAU CHAIN NODE can communicate with other languages, like HTTP, once implemented in RDF.

τ -chain node is an intelligent agent able to communicate with other agents, at the very same language they’re written with, which is quite human-readable. It can communicate with other languages as well, like HTTP, once implemented in RDF.

Screenshot from 2015-03-30 18_43_59

The rules of the network are determined by its users. Conversely, many independent “universes” can be created over τ -chain, that may or may not share τ ’s timestamping. They can also reference to each other, allowing code-reuse: recall that rules are code, since Tau Chain has a unified language. Moreover: it provides an ability to implement Decidable computer programs w

ith RDF, namely DTLC languages rather Turing Complete ones.

The implications τ -chain node is an intelligent agent able to communicate with other agents, at the very same language they’re written with, which is quite human-readable. It can communicate with other languages as well, like HTTP, once implemented in RDF.

Arrow of time is brought into the network using the Blockchain algorithm. Items can get into a Merkle tree that will be signed by a miner, roughly speaking.

The network will also function an RDF-speaking distributed storage, namely Kademlia DHT, letting hashes of items to be time-stamped in a mechanism which is up to the rules of those languages will be described later on.

If you want to know more about TAU CHAIN – please visit here:  http://www.idni.org/tauchain

Screenshot from 2015-02-17 04_31_35 (2)

 

Great things are happening with Omni

Point of contact for companies and organizations who want to issue a token

(Judith Jakubovics) Judith (-at-) Omni.Foundation and on Skype: Judith.Jakubovics

http://www.idni.org/tauchain

TAU-CHAIN – Programmable decentralized P2P network based on ontologies and reasoning

Synereo – AMP-Attention Economy- Crowdsale is launching today March 23,2015

By Judith – BizDev at the Omni Foundation

Synereo crowdsale is launching today – March 23rd 2015, 8:00 PM GMT.

Synereo Evolution (CoinTelegraph)

The AMP token is a cryptocurrency deployed as a meta-coin on top of the bitcoin blockchain, using the Omni-Layer.

The value of the AMP token comes from its inherent use in the Synereo network, as a means for paying for user attention.

To understand more, please visit here: http://blog.synereo.com/2015/03/22/amp-economy/

The Synereo crowdsale is supervised by the Omni Foundation. The Omni Foundation has access to all transactional information, with their executives serving in the role of trustees for the AMP tokens. Synereo has no access to these funds without their approval.

Synereo is taking great care to secure and safeguard all funds for this crowdsale and beyond.

This document will detail the policies and mechanisms put in place for this purpose as well as for the AMPs issued and not yet distributed.AMPlogo PICTURE 2

AMP Wallets

The entire amount of issued AMPs, one billion (1,000,000,000), will be generated by Craig Sellars, Co-founder and CTO of Tether and Technologist for Omni.

Craig will act as trustee for all initial AMP transactions, under a multi-sig solution requiring his approval to be used, allocating them to different wallets. Craig will further act as a trustee and evaluator for some of these wallets, as described below. Craig will oversee AMP use and ascertain that it is done according to the following bylaws.

AMP wallet distribution

Wallets holding AMPs to be distributed will be published before the crowdsale begins and remain transparent to the public.

The following wallets will require Craig Sellar’s direct authorization as well as his participation in the creation of the transaction when AMPs are released from it:

1) Crowdsale Wallet. Upon the completion of the crowdsale, Craig will overview  the records and approve that AMPs are sent only, and in direct proportion to the funds submitted, to the participants in the sale.

2) Future Crowdsale Wallet. This wallet will be sealed until such a time that we announce another public offering or come into a formal agreement with an established investor to purchase AMPs.

3) User Reward Wallet. This wallet will be sealed until the Synereo platform goes live, at which point it will be used to compensate users who migrate to the network.

4) Content Creator Reward Wallet. This wallet will be sealed until the Synereo platform goes live, at which point content creators will be able to register for the reward program. AMPs will only be sent to the addresses made public by these content creators upon their registration.

AMPs will be divided to wallets with this distribution: 

  • 18.5% will be placed in the Crowdsale Wallet.
  • 10% will be placed in the User Reward Wallet, used to compensate users as they join the network and invite others, contributing to its growth.
  • 7.5% will be placed in the Content Creator Wallet, given to content creators who begin operating on the network.
  • 10% will be placed in the Founder Reward Wallet, awarded to the founders of Synereo, vested over a period of 30 months.
  • 11.5% will be placed in the Bounty Wallet, awarded to contributors and developers.
  • 42.5% will be placed in the Future Funding Wallet. We aim to have two more funding rounds, spaced 1-1.5 years “amapart, each providing the necessary funds for the next leg of the project’s development.

Staggered Distribution 

The User Reward Wallet and Content Creator Wallet may only distribute the allotted rewards in a staggered manner, over a period of six months. This assures that rewards will not be quickly liquidated, increasing the chances of them being used in the Synereo platform and contribute to the AMP economy.

Users with accounts that are eligible will receive their weekly allotment during this period.

The Founder Reward Wallet will also distribute funds over the longer period of time of 30 months, as also described in the Vesting clause of the Synereo Ltd. Founder Agreement. Each month, the founders will receive 1/30 of the AMPs allocated to them.

Generation of new AMPs

As part of the Proof of Social Contribution (PoSC) mechanism, up to 5% more AMPs will be generated each year (note that this is lower than the year after year growth in both user numbers and market value for social networks over the past 15 years). AMP generation will also depend on the approval of Craig, making certain that this cap isn’t crossed.

Unsold AMPs

If the cap is not reached in the upcoming crowdsale, unsold AMPs will return to the Future Funding Wallet, holding the AMPs kept for future crowdsales and investments. This wallet can only be accessed pending the review of Craig, who will have to ascertain that their use is as defined.

Multi-signature mechanism

All bitcoins received during the crowdsale will be kept in a multi-sig wallet, generated by Armory Lockbox on offline and/or air-gapped machines. Transactions cannot be generated unless 3 out of 5 keys are used to sign it.

This protects the funds received from any one point of failure, whether theft, the loss of a key, or the inability of one holder to access the wallet.

Three of the keys will be held by the Synereo founders.

One key will be held by Meni Rosenfeld, the Chairman of the Israeli Bitcoin Association, and one of the most trusted figures in the crypto community.

Another key will be held by another trusted third party, to be revealed shortly.

Review of contributions in fiat

Participants wishing to contribute in fiat may do so by sending a wire transfer to Synereo’s company bank account. All details will be available on the crowdsale page, at crowdsale.synereo.com.

We will periodically post the information of such received funds with the details of the contributors hidden. The Omni Foundation will receive read-only access to Synereo’s bank account, certifying that the wires reported have indeed been received.

Unique Bitfinex selling account
[in preparation]

Existing wallets:

  • Crowdsale Wallet (185000000 AMPs)
  • User Reward Wallet (100000000 AMPs)
  • Content Creator Wallet (75000000 AMPs)
  • Bounty Wallet (115000000 AMPs)
  • Future Funding Wallet (425000000 AMPs)

 

Welcome to learn more about Synereo and read the recently released whitepaper:info1

http://www.synereo.com/learn-more/

http://www.synereo.com/whitepapers/synereo.pdf

‪#‎bitcoin ‪#‎socialnetwork ‪#‎decentralize

 

Great things are happening with Omni

Point of contact for companies and organizations who want to issue a token

(Judith Jakubovics) Judith (-at-) Omni.Foundation and on Skype: Judith.Jakubovics

 

 

Synereo – AMP-Attention Economy- Crowdsale is launching today March 23,2015

THE HOPE GOLD COIN, A NEW ASSET-BACKED CRYPTOGRAPHIC CURRENCY CREATED TO SUPPORT CHARITIES

By Judith Jakubovics – BizDev at Omni Foundation

Dear Omnis,

The HOPE Gold Coin Charitable Trust announced  that the HOPE Gold Coin, a new asset-backed cryptographic currency supporting charities worldwide, has been listed on the following exchanges: C-CEX, MasterExchange and Holy Trancactions

HOPE Gold Coins are traded and supported by C-CEX, MasterExchange and Holy Transaction.

John Allen, Chairman of the HOPE Gold Coin Charitable Trust’s Protector Committee, states, “We’re excited about the growing interest in the HOPE Gold Coin and appreciate the C-CEX, MasterXchange and Holy Transactions for  listings as we build our liquidity in the digital market.”

The HOPE Gold Coin is based on the Omni Protocol, using Bitcoin 2.0 technology with smart features specifically developed to address stability, safety and security issues as well as provide ease of use.

Owners can keep their HOPE Gold Coins in the HOPE Wallet, which can hold multiple cryptographic currencies including Bitcoin. Based on the OmniWallet, the HOPE Wallet combines security, usability and multi-currency support. 

Proceeds from sale of the HOPE Gold Coin will help fund large-scale charitable initiatives around the world.  Owners can support charitable activities by simply purchasing HOPE Gold Coins as well as by donating those coins directly to multiply the effect.

HOPE_Logo1_4 (1)

Great things are happening with Omni

Point of contact for companies and organizations who want to issue a token

(Judith Jakubovics) Judith (-at-) Omni.Foundation and on Skype: Judith.Jakubovics

THE HOPE GOLD COIN, A NEW ASSET-BACKED CRYPTOGRAPHIC CURRENCY CREATED TO SUPPORT CHARITIES

Synereo is a next-gen social network

By Judith Jakubovics – BizDev at Omni Foundation

Dear Omnis,

It’s turning out to be another exciting and productive week! The Omni Foundation is privileged to provide a platform to so many innovative projects.  Omni allows for the issuance of Smart Properties and assets on the Bitcoin blockchain, and we like to share some of the leading projects using the platform and protocol.

Today, I would like to introduce Synereo.

Synereo is a next-gen social network that puts security, identity, and community management directly under the purview of you – the user, respecting your attention and rewarding you for your activities on the social network.

With current social networks, you are not the client. You are the product being sold. The value you create by being a part of the network flows upwards immediately, reaching only a select few: those in control of the network. With Synereo, a completely decentralized and distributed network, you are in control. The value you create, provide and share stays in your hands.

Why Synereo?

Synereo is a next-gen social network. It is:

  • Unconstrained by the financial desires of its operators
  • Impossible to take down
  • Rewarding for content creators
  • As private and as unmonitored as you want it to be
  • Devoid of any center of control
  • Designed to value your attention through direct compensation
  • A better system for social organization online
  • 1_feed_discusss -PICTURE 1

Synereo’s Token, The AMP: A Voice Amplifier

AMPs, the application tokens for the Synereo network, serve as a way to Amplify the flow of information in the network, increasing its organic reach and allowing it to get to propagate to more peers.AMPlogo PICTURE 2

The AMP

Who benefits from Synereo?

You, the user. By participating in the Attention Economy, you receive tokens that you can use to Amplify your voice or to sell on the market. These tokens have an inherent value, as they can be used to increase the chances of a message getting a user’s attention. The more you do for the network, the more your attention is worth.

You, the content producer. Through direct compensation for user-generated content, Synereo puts users back in control of their content, to rise and fall directly on the support and passion of its community. Synereo makes it easy to find your communities and grow your project on your terms.

You, the advertiser. Advertisers allocate significant resources in an attempt to optimize the reach of their campaigns and outsmart content delivery algorithms. An entire ecosystem of advertising middlemen profit from programmatic advertising; buying and selling ad spaces, bidding for your attention in real time, using retargeting mechanism and attribution models, and generally adding nothing to the quality of the content.

Synereo will provide advertisers with the full set of tools necessary to reach their natural audiences, decimating the costs otherwise lost to both these advertising middlemen and to the centralized platform.

Here are some ways to get your first AMP tokens

1) You can buy AMPs during an initial crowdfunding phase which will fund the development of Synereo and its deployment. The crowdsale will be supported by the Omni Foundation, and will begin at X.2.2015.

2) Registering for Synereo and migrating your information from an existing social network account.

3) Expanding Synereo by inviting users who register on the network and migrate to it.

4) Bounties. People working to contribute to the development, deployment, and expansion of the network will receive AMP rewards for their efforts.

 

If you want to learn more about Synereo or sign up for updates, please visit: http://www.synereo.com/synereologot picture 3

Great things are happening with Omni

Point of contact for companies and organizations who want to issue a token

(Judith Jakubovics) Judith (-at-) Omni.Foundation and on Skype: Judith.Jakubovics

 

Synereo is a next-gen social network

Property Token by Delta Business Management and the Omni/Master Protocol

By Judith Jakubovics – BizDev at the Omni/Mastercoin Foundation

In this project, the Delta Business Management wants to embed unique id’s into the tokens to make a strong binding to a deed / contract. Once it will launch, the intention is to scale the business and branch into other forms of assets and property in particular residential markets and capital held in properties. The aim being that asset is more interchangeable giving the owner more flexibility with their wealth.

I would define it as PayTo capability token.

Delta will want to keep tokens to retain their pay to history so the new owners of the contract/token won’t be paid over and over and form a limited fund source. These assets are to be issued manually upon sale.

Customers will apply for Delta ID token. They will apply and send in KYC documentation which will be vetted by Delta Business Management. Once verified a delta ID token will be sent to the clients designated address. Visible in Omniwallet. etc., Once an individual has a delta ID token, they will be able to purchase from the Delta range.

The token holds no personal information and will just be to verify that this individual has passed KYC and is known to DBM, The tokens will be sequential ref designated within the token and all personal information will be kept offline and managed by Delta. Anyone viewing the token via Omniwallet will see DBM ID 001 & DBM ID 002 and so on. No personal information is contained within the total and the identity will only be known by Delta. You will be able to purchase directly from Delta website or directly from the Decentralized Omni exchange – Omni Exchange is scheduled to launch by the second week of January 2015.

So this property tokens will be traded with other members of the delta eco system (ie others who have a valid id token) this means that the properties are interchangeable without the need for estate agents and lawyers. There are procedures in place if someone sells an asset to a non delta ID token holder. The “sendbacks” are stopped until the new owner has obtained their own delta ID token.

All revenue received from the asset will be converted to btc by Delta as the management agent and will be distributed by BTC send outs quarterly providing the Delta terms are met (Delta ID token accompanies the asset).

If people no longer want their property managed by Delta they can either send the token back to Delta to redeem for the title deeds from UK land registry or, they can initiate the break clause in the original contract and receive a full refund (option available after 5 years).

Delta sees exciting opportunities with projects like factom.org (Factom is born on the Omni/Master Protocol) to be able to break the existing storage and parking assets into smaller pieces for small investors build up their portfolios. This would not be possible without projects like Factom.org getting around the micro payments problem which enables to break it down for smaller investors/clients.

If you want to know more, please visit  http://www.deltabusinessmanagement.com/

Great things are happening to the Omni/Master Protocol

Point of contact for companies and organizations who want to issue a token (Judith Jakubovics) Judith (-at-) Mastercoin.org

and on Skype: Judith.Jakubovics

Property Token by Delta Business Management and the Omni/Master Protocol

Highlighting some great projects built on the Omni/Master Platform

By Judith Jakubovics – BizDev at the Mastercoin Foundation

Dear Masterminds,

Another exciting week for Omni/Master Protocol – full of innovative ideas, community collaboration and much more.

There are so many new innovative projects, and I would like to highlight some of them.

I would  love to highlight all of them, but there are projects in the pipe that are not ready to be revealed in public yet.

(A) – Projects that already launched on Omni/Master Protocol:

a) Maidsafe – Date of launch – April 2014

Maidsafe aims to create no less than a fully peer-to-peer and decentralised Internet platform, in which all data is ‘shredded’, encrypted and distributed to an extensive network of computers around the world. MaidSafe consists of two key parts: the network and the client applications. Safecoin is the currency of the SAFE network and a mechanism to incentivise and reward end users and developers as well as provide access to network services.

http://maidsafe.net/      and  http://maidsafe.net/safecoin

b) ApiNetworks – Date of launch – June 2014

The API Network provides the solution to create a fully decentralized and tokenized API network.This platform will allow API providers and users to meet in a fully open sourced platform, using the lessons learned from Bitcoin.

The goal of API Network is to take all the APIs out in the world,and provide a universal mechanism for querying them.

APICoin (XAP) will provide a transparent and distributed way to compensate developers and service providers for their effort with the coin XAP.

API Network is actually the solution to create a fully decentralized and tokenized API network platform that will allow API providers and users to meet in a fully open sourced platform, using the lessons learned from Bitcoin.

http://www.apinetwork.co/  and  http://www.buyxap.com/

c) GenerCoin – Date of launch – June 2014

GENERcoin is the Green ENERgy Asset Backed Coin that is backed by Arterran Renewables innovative solid bio fuel made from sustainable non food sources, such as manure, and municipal solid waste that is a direct replacement to coal. Coal contributes 40% of green house gas emissions in the US alone(source US EPA). Each GEC is a receipt and claim for the bio fuel that backs each coin.

www.genercoin.org  and www.arterranrenewables.com

d) CryptoNext – Date of launch – July 2014

CryptoNext plc is an Isle of Man company that offers digital currency products starting with a multi-currency, multi-lingual exchange platform and extending to merchant and remittance services.  It is the first company to launch an exchange offering multiple Fiat and multiple digital currencies, via a platform which is available in several languages.

www.cryptonext.net and  https://www.youtube.com/watch?v=GG97mJ-Y_ac&feature=youtu.be

e) CoinProz – Date of launch – August 2014

CoinProz is utilizing a new method of valuing their token called Proof of Action: By distributing much of their coin offering to users who participate in their crypto based social network they are encouraging a strong interactive community.

http://www.coinproz.com/default.html

f) Spacelite – Date of launch – Sept 2014

Spacelite project – Life Science R&D

SLC- Spacelite  is an asset backed token, each SLC is backed by 100 grams of SpaceLite, a highly medicinal potassium-oxygen based alkaline electrolyte mineral for human consumption.

http://www.spacelite.info  and  http://www.armedforces-int.com/suppliers/spacelite-military-operation-training-supplement.html

g) SovereignCoin – Date of launch – Oct 2014

The mission of SovereignCoin is to harness the purchasing power of physical silver, to energize and mobilize this tremendous resource, by anchoring to it a trading unit called a Sovereign. A Sovereign is a digital representation of one gram of silver utilized by SovereignCoin holders to record and reconcile value. No longer need the purchasing power of silver be trapped away inside one’s vault.

http://thesovereignexchange.com/content/sovereign-solution

h) Tether – Date of launch –  Nov 2014

Tether is a next-generation financial platform making it possible to safely and instantly send and receive Dollars, Euros, Yen, anywhere in the world using the Bitcoin blockchain.

You deposit your preferred currency (Dollars, Euros, Yen) or bitcoin onto our platform, and we issue you Tether+, which are digital tokens that allow you to make transactions using the Bitcoin blockchain.

https://tether.to/

(B) – Projects that will  soon launch on Omni/Master Protocol:

a) Factom

Simple yet critical technology on Master Protocol

The goal of the project is to build a protocol stack, beginning with a proof of existence layer, and ending with a layer providing proof of process.  All of which is secured with the Bitcoin block chain, without adding a significant number of transactions to the Bitcoin block chain, nor requiring any changes to the Bitcoin protocol.

With clever use of cryptography Factom  will limit the size of the blockchain without losing any of the information it contains.

http://www.factom.org/

b) Hope Gold Coin and The Festival of Hope

The Festival of Hope is the largest live music and charity event in history.

Hope Gold Coin is the overall sponsor of the festival of hope.

Hope Gold Coin is the means of purchase to support charitable activities around the world.

The HOPE Gold Coin Charitable Trust is a charitable trust under UK law expressly established to undertake the development, production, sale and management of the HOPE Gold Coin as well as ensure that all proceeds earned from the sale of HOPE Gold Coins will be used for charitable causes and activities.

  • Genuinely and completely altruistic.  
  • Proceeds earned from the sale of each and every HOPE Gold Coin will be used by HOPE Gold Coin Charitable Trust to benefit philanthropic and charitable causes, projects and activities worldwide
  •  http://test.hopegoldcoin.org

http://test.hopegoldcoin.org  and  http://www.thefestivalofhope.org/

http://www.hopegoldcoin.org/links-2/partners.html

c) Merchantcoin

MerchantCoin is the first self sustaining, marketing centric crypto-currency that incentivizes consumers, advocates and businesses to acquire and use bitcoin.The MerchantCoin solution provides a Faster, Cheaper, Easier and Smarter method for merchants to transact business within its ecosystem. The mWallet enables each merchant to accept bitcoin, but also to sell Bitcoin and many other alt-coins. TheMerchantCoin solution provides every merchant an onramp to the digital currency marketplace.

https://merchantcoin.net

d) La’Zooz

Transportation and traffic jams are basic parts of our modern lives.

These are exactly the issues that the La’Zooz team are dealing with. It will save our precious time and money, will reduce global pollution, will require less investment in infrastructures and much more…

La’Zooz is creating a Decentralized Transportation web that will not only be run by the community, but it will be owned by the community. “Fair share” and “fair fare” were two of the basic values that led La`Zooz team in its creation process.

La`Zooz is using the bitcoin 2.0 technology in order to distribute abundance to as many contributors that will come and by that La’Zooz is opening the floodgates for developers designers and users.

La`Zooz will move its “Proof of movement” mining Android App into Beta stage.It  will enable people who believe in ride sharing and other smart transportation solutions to change the way transportation on planet earth looks like.

http://www.lazooz.net/

e) BitLov

Bitlov is a digital currency automation platform that utilizes a predominately trustless network of decentralized, distributed autonomous agents called Rubrics

Bitlov is a digital currency automation platform that utilizes a predominately trustless network of decentralized, distributed autonomous agents called Rubrics. Bitlov empowers individuals and organizations to determine where money goes and when by simplifying the process of setting rules within contract templates, to write simple-to-complex transaction routines based upon various factors, such as: budget, pre-defined triggers, formulas, times, recipients, and more.

Website under constructon.

See the blog: http://blog.mastercoin.org/2014/10/19/introducing-bitlov-a-new-project-integrated-with-mastercoin/

f)Rymecoin

Remitance dollar coin for the Kerala state of India

Using the Master Protocol, RymCoins will be created from “Information Matrix Console (IM)”, where fiat currency, big data, user personal, professional, consumable and business information’s are captured; and purchasing power parity logic is applied for additional coin creation in the time of fiat currency conversion into crypto currency.

https://docs.google.com/document/d/18rMT0NY9PYeds469ZckOrrXIxEf8lLm7GJAau-TtD-w/edit

g) The Delta IDCoin

The Delta Business Management and the crypto space.

In this project, the Delta Business Management  wants to embed unique id’s into the tokens to make a strong binding to a deed / contract.

Once it will launch, the intention is to scale the business and branch into other forms of assets and property in particular residential markets and capital held in properties. The aim being that asset is more interchangeable giving the owner more flexibility with their wealth.

Great things are happening to the Master Protocol

Point of contact for companies and organizations who want to issue a token (Judith Jakubovics) Judith (-at-) Mastercoin.org and on Skype: Judith.Jakubovics

Highlighting some great projects built on the Omni/Master Platform

Factom – simple yet critical technology on Master Protocol

By Judith Jakubovics- BizDev at the Mastercoin Foundation

Dear Masterminds,

Factom is a simple, yet critical technology for leveraging the power of Bitcoin Blockchain.

What is Factom?

The goal of the project is to build a protocol stack, beginning with a proof of existence layer, and ending with a layer providing proof of process.  All of which is secured with the Bitcoin block chain, without adding a significant number of transactions to the Bitcoin block chain, nor requiring any changes to the Bitcoin protocol.

As Peter Kirby- President of Factom explains: “Factom is a simple extension of the Bitcoin Blockchain that lets you build faster, cost effective applications with limited bloat”.

With clever use of cryptography Factom  will limit the size of the blockchain without losing any of the information it contains.

Factom is essentially a P2P network using a BitTorrent-like protocol, running on a system of federated servers. These servers all audit one another continuously to make sure they’re following Factom’s rules, and all of them are compensated in cryptocurrency for their services.

Once that’s established, anyone with the proper client program on their computer device can get and verify the information they need  to run for a decentralized application. You just need to be connected to the Internet, and–as it continues to decentralize–you’ll soon be able to do everything you need without worrying about silly things like “blockchain bloat.”

Factom is using the MSC Platform to issue the digital token associated with the Factom protocol.  Upon completing all the layers, Factom tokens will be converted to native coins running on Factom.  In fact, they may even be able to help improve the speed and reduce the cost of MSC transaction by running synced MasterCore nodes on the Factom platform.

Here are some advantages to running MasterCore on Factom:

1) The Factom blocks are hashed into the Bitcoin block chain, so they are just as secure as Bitcoin transactions .

2)Reduction Load on the Bitcoin Blockchain, thus unlimited MSC transactions can be performed on Factom for each entry placed in the block chain.

3)Federated servers allow for millisecond processing of MSC transactions that currently take quite a long time on the Bitcoin block chain, thus fast transaction processing

4) Secure transactions – All transactions of MSC will require cryptographic signatures.  This means even if the federated servers wanted to misdirect MSC transactions, they could not.  They will not have the private keys to do so.

5)Simplified protocols -The flexible entry format means that MSC transactions (as well as many other applications) can clearly add all the data and entries required to support the Master protocol.  Factom  allows the flexibility to construct transactions exactly as required by the application rather than force them into an awkward encoding scheme.

If you want to know more about this amazing project,  please visit

http://www.factom.org/

Great things are happening to the Master Protocol

Point of contact for companies and organizations who want to issue a token (Judith Jakubovics) Judith (-at-) Mastercoin.org and on Skype: Judith.Jakubovics

Factom – simple yet critical technology on Master Protocol