A New Beginning

The Factom community has been abuzz for the last couple of months, as prospective businesses vied for the opportunity to host one of the hotly contested authority nodes following the launch of Factom’s Milestone 3.

Factoshi was one such business. We put our case to the community, who we hoped would recognise our dedication to the network and willingness to work hard to achieve greater adoption of the Factom protocol and a robust network infrastructure. The results are in, and we are delighted to announce that we have the honour of being selected for the first tranche of independent operators who will run authority nodes on the Factom network. Decentralisation has begun.

We are now moving quickly to implement our plans. The first stage of that was to formalise our business and set up shop. We have incorporated in the UK and have built tools to help not only ourselves but other node operators manage their business. The first will alert an operator by telephone call in the event that there is a problem with one of their nodes. The second helps operators to manage their books by monitoring revenue from servers. Both can be found on our Github.

The next stage in our development plan is to implement a robust server architecture to support network infrastructure. We have done the grunt work in operationalising our servers, and are now waiting patiently for Factom Inc. to finalise the details of how rollout will occur. We are ready to hit the ground running.

Factoshi has two large projects that we are working on alongside our role as authority node operators. The first is a website to provide detailed metrics into the Factom network. We have broken that down into smaller goals, and will first put out an API where developers can grab network metrics. As we gradually expand on that, we will start building the front end to display those metrics to the wider community. We’re working with an agile development methodology, so will hopefully have an early iteration of API ready in the relatively near future.

The second project is to build an intellectual property tool for SMEs to secure their IP on the Factom blockchain. An early prototype of that tool will provide the community with transparent insight into our internal operations. We will market this tool initially to SMEs operating with the UK, with an aim to expand beyond that in the long term.

Finally, we aim to release an update once per month to the community, so keep your eye out for June’s edition of our blog.

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