Pegnet - The stablecoin network creating the foundation for Decentralized Finance
What is PegNet? The PegNet token (PEG) is an open, distributed, autonomous and minable stablecoin network. PegNet enables cryptocurrency users to hold value and make payments in the form of any asset they would like thanks to Pegged Asset Tokens. PegNet tokens are digital copies of the fiat currency, cryptocurrency or precious metal they mirror. Supported by prominent early Ethereum contributor Jonathan Mohan and early blockchain leaders such as David Johnston, and Paul Snow. PegNet’s technology leapfrogs existing stablecoin implementations by being minable via proof of work, where miners are rewarded with PEG tokens in return for submitting and approving price data from external sources. Miners subscribe to various market API’s and submit the prices of 29 assets, including Gold, Silver, USD, Euros, Ether, Factoids & Bitcoin, with many more to come to PegNet. Users can choose their exposure to any of the Pegged assets by simply converting between assets at current market prices. Private sale or Crowdsale details? Fair start CPU mining since the genesis block; no Founder Reward, ICO, or IEO Marketcap of peg is sitting at 8 million and can be viewed here https://pegnetmarketcap.com/ The circulating supply of peg is 2 billion tokens This is a gem and will take the DEFI community by storm. Peg is still in the early stages (66 days old) and is being developed by the factom and ethereum community. If they pull it of peg will be in the top 10 assets in 2020. Always DYOR, join the telegram community and if you missed Rune, now is your chance. You don’t get quality projects like this often. Exchanges peg listed on: https://vinex.network/market/BTC_PEG https://x.vite.net/ https://trade.citex.co.ktrade/PEG_BTC More exchanges are coming ! Useful Links • Website: https://pegnet.org/ • Telegram chat: https://t.me/PegnetOfficial • Whitepaper: https://pegnet.org/docs/whitepaper.html • Mining: https://github.com/pegnet/pegnet/wiki/Mining • Mining Pool : https://prosperpool.io/ • Mining Pool Discord : https://discord.gg/MbU6XHj • Faq: https://github.com/pegnet/pegnet/wiki/FAQ
We are the Founders of Factom: See our White Paper: Using the Blockchain to Insert Honesty into any System. AMA
About Factom:Factom lets you secure data using the Bitcoin blockchain. Factom creates a layer that anchors to Bitcoin and moves non-bitcoin transactions off the blockchain. Use the blockchain as a immutable ledger for any application you can dream of:
Service Level Agreement (SLA) Logs
The world’s wealth is stored in records and Factom introduces honesty to record-keeping. Interesting resources, papers, and articles:
FACTOM (FCT) has cornered the market in data security, has Fortune 100 clients in the pipeline, and is rapidly expanding into Asia. It may be the single most undervalued project in crypto.
During Factom's testnet presentation that occurred on 1/18/18 (today), the Factom team released an Update. Not only did Factom announce that they are eager to announce the names of some of their institutional clients in Q1/2018 (and I repeat - actual clients - not partnerships), but they also announced that along with IOTA, Factom was selected for the Tokyo Metropolitan Government's blockchain business camp Tokyo accelerator program which matches potential enterprise/financial clients with blockchain-based solutions in Japan. Because of the opportunities presented from the accelerator program to match potential enterprise clients to blockchain solutions, factom has decided to open an office in Tokyo in Q1/2018. Factom also has an office in China, as well, and is establishing itself as an international presence in the market for data security. This news, in addition to Factom's assertions that they have brought on clients in the Fortune 1000 (with MOST discussion as of late being with Fortune 100 companies), shows just how much work Factom has put into the development and marketing of their solutions to enterprise clients. Just as an example, at the Annual Mortgage Bankers Conference, in October 2017, Factom was requested to meet, present, and demo their products 25 times in just two days.....25 times. For those not familiar enough, Factom creates a decentralized data layer on top of the Bitcoin blockchain, and that data layer can house public chains or private chains. We live in the Information Age, and Factom aims to secure the world's data - making that data immutable and easily auditable. Factom does not store the actual documents; it is not a storage solution for data. Factom hashes the data so it is easily traceable, unchangeable, and trackable over time. Factom SECURES data - it does not store data. And this data security is wildly attractive to enterprise clients (institutional, governmental, financial). By Factomizing (securing) your data, you can prove that documents or even physical parts (such as in security cameras) have or have not been tampered with. If I am a bank with millions of mortgages, and my mortgages are Factomized through Factom's champion product, Harmony, then I can easily run an internal audit to identify deficiencies or incomplete information, and in doing so, with comprehensive knowledge of the state of my mortgages, I can implement best practice solutions. Not only would I have an effective means of trusting the integrity of my data (through Factom), but I would also have the tools to comply with legal regulations such as Dodd Frank. So not only is my data secured, but I become more protected by lowering my risk. Factom has a brilliant economic solution to enterprise adoption, meaning that major companies (usually with lots of red tape) appreciate how easy it is to use Factom. Instead of having to buy a cryptocurrency (which, surely, legal teams and corporate risk departments would frown upon), Factom developed what's known as a 2-token system, where companies buy Entry Credits (EC's), to use the Factom protocol -- this allows major corporations to use the protocol without having to deal with the red-tape mess of actually buying a cryptocurrency. The cost for anyone to buy EC's? -- $0.001 AKA 1/10th of a cent. Sounds cheap? It is. These institutional clients can use the Factom protocol for FAR cheaper than the existing, expensive and less secure methods that they have in place today. And the great thing about Factom is that the more the protocol is used, the HIGHER the price of the Factoid (FCT). Meaning that the more companies signing on the dotted line with Factom, the higher the price of the token. Per the AMA, Factom recommends that, "these enterprise clients (such as banks) will use tens of thousands of EC's PER MORTGAGE. Large institutional mortgage lenders usually have between 300K and 500K loans PER YEAR with 100 documents per loan and roughly 1,000 points of data. Also, the loans can last 30 years, with most lasting 7 - 10 years, and the lender will need to continually update the chain of data with payments, taxes, escrows, for years." What this quote is saying is that the Factom protocol, even through one major client, can seriously drive up the floor price of FCT. Considering that Factom has 20 - 30 signed NDA's at this time (per the AMA), and that their recent marketing efforts have been with Fortune 100 companies, it's reasonable to suggest that Factom's price can expect a meteoric rise when these clients are brought off the testnets in the coming month and onto the mainnet. Note: Factom Inc. (the entity that is referenced as "Factom" above) should actually be considered a user of the Factom blockchain. They are developing BaaS solutions on top of the Factom blockchain, as are Sphereon and Kaula currently. So in reality, companies are utilizing the protocol to create solutions. It is these 3rd party companies solutions that we are waiting on being adopted by enterprise clients. This is a distinction that many fail to understand. Factom the blockchain can succeed without Factom Inc. succeeding. And Paul Snow has said multiple times that he expects the usage from the Factom Inc. BaaS solutions to only account for 5% of the total Factom blockchain usage in the long term. The current market cap of Factom (the protocol) is ~400M as of today, 1/18/18. As one of the first cryptocurrencies with the developed technology and products to deliver actual Fortune 100 company solutions in 2018, Factom is immensely undervalued. The usage of the protocol drives the price of FCT. Once Factom names these enterprise companies, the floor price will mathematically increase, and the speculative multiple will increase, as well. For those new to Factom, I urge you to ask questions, to think about the value proposition (secured data) that Factom is delivering to major companies and to the world, and we are lucky in that now is the time to accumulate FCT prior to the major announcements that are coming within the next few months.
There’s been a fair amount of confusion in the past about how FCT (“factoids”) relate to EC (“entry credits”) in the Factom system, and what the economic ramifications are for FCT investors. So … I’ve taken the liberty of condensing some of my notes on the subject, below. This is AFAIK, so if you spot any errors, please let me know. Also, I realize the Factom team is working overtime to bring out M2, but if BrianDeery or PaulSnow or another member of Factom would be willing to check the math/logic below, it’d be appreciated. :) ECs are kept at a stable price of around 1/10 of a cent. 876K new FCT are created per year w/ M3. So: the conversion rate of EC-to-USD (or any other relatively stable fiat) is fixed, while the FCT-to-EC conversion rate is dynamic. Given ECs’ fixed fiat price, ECs are removed from the system at a rate directly proportional to Factom’s real-world use. If 1 billion USD is spent collectively to use the Factom system in, say, 2020, in order for the supply of FCT to not be “used up” in the conversion process to EC, the price of FCT would have to rise (or “stabilize”) to $1,141 USD. 1b USD / 876k [annual new supply of FCT] = 1,141 USD Basically, the price of FCT has to rise; if it didn’t, all existing FCT would be burned in the conversion to EC, and … there would be no more FCT! This is where supply/demand comes into play, resulting in the (base) price of FCT being directly proportional to the extent of Factom’s use. This is also ignoring the effect of speculation, which could realistically only raise the price of FCT from its base price. In terms of what multiple it could be raised, it's worth noting that more mature companies—which is to say, companies with much more limited growth potential—have multiples in the 100s. E.g. Staples = 192x, Netflix = 282x, Amazon = 847x.
Hello guys. I read about Factom from few days. It's really great project and I belive in his potential. But i can't get two thing. Firstly. Factom using bitcoin and ethereum blockchain ( or only bitcoin blockchain? ) What's mean that Factom using these blockchain? And the other thing. Factom work on: Proof of Existence, Proof of Process, Proof of Audit.
Factoids ELI5? As a bitcoin fanatic with no programming knowledge, is there any investment or practical value in buying factoids in the upcoming sale?
I understand how they will be used but what I am not certain is that how this flash sale will allow someone like me to invest early, when it is still possible for future users to use the factom network later on. It feels a bit like pre-ordering a video game.
TL DR UPDATE: So after a LOOOOOOOOOOT of questions and back and forth, I'm pretty impressed by the design. This is the first crypto ecosystem where I think all the incentives from all parties align. It's not trying to be a currency that nobody is willing to sell. Its not trying to be a stock that provides zero shareholder benefits (most ICO's). I'm not qualified to judge the technical merits, but the overall architecture is quite elegant. If you're on the fence, feel free to read the walls of text. I certainly didn't hold back in trying to poke holes in it.
You know what's not elegant? Reddit's stupid text formatting rules. Whoever designed this should go eat a bag of dicks.
1) "Servers and other recipients of Factom Tokens can sell Entry Credits to customers for payment via Bitcoin, conventional credit card payments, etc."
But I thought entry credits are non-transferable? And by recipient of token, do you mean anyone with a factoid? So people who buy factoids can then sell the entry credits to the end user of factom who cannot sell it again? Basically we act as the technical middleman that spares them of the trouble of making a wallet? Do the factoid seller get to set a fee?
2) "Entry Credits are non transferable, so the user cannot assign them to another user’s public key, and selling private keys isn’t practical or useful. In neither transaction is a tradable token (the Factoid) transferred between two parties."
How does making entry credits non-transferable make the system less interesting to thieves? Wouldn't they just go after the owner of the factoids since those are transferable? I guess if the factoids themselves aren't necessary to using the system, they wouldn't be very appealing not just to thieves, but also to buyers. What's the point of entry credits anyways? The only use I can see is if you intend to use a lot of the service but want to lock in a price. So it's like buying a non-transferable gift card or something. My initial impression is that the company is valuable and would provide a valuable service, and there are systems in place to discourage speculators from creating volatility in token prices. This makes a lot of sense for the platform to work, but it also raises the question of why should we buy factoids unless we intend to use the service?
[AMA] I am David Chapman, CEO Of Factomize LLC, a Factom Authority Node Operator. I'm here to talk about the business opportunities within the Factom Protocol ecosystem. AMA!
Greeting Entrepreneurs! I am David Chapman, CEO of Factomize LLC. Factomize is part of a coalition of 26 (eventually 65+) companies that provide the infrastructure to decentralize the Factom Protocol. I'm here to talk about the many business opportunities within the Factom Protocol ecosystem. I first purchased Bitcoin when it was $1.00 and screamed near and far about its potential. I feel the same way about the Factom Protocol. I will begin answering questions at 3pm Eastern Time. Verification
This AMA was approved by the moderators and is listed in the sidebar.
Started in 2014, the Factom protocol is an open source data integrity protocol built by a coalition of technology companies that extends the security of blockchain to any type of data. In other words, we're working to make data trustworthy. Factom is built from scratch and has novel design implementations that set it apart from all other blockchain projects. We are confident these features will help propel Factom to become the internet's data integrity layer. The market traded token of the Factom Protocol is the Factoid (FCT). As of this posting, it's market cap is 92 million dollars. Due to the novel design of Factom, it is one of the few blockchain projects seeing real world usage and interest from business and government. Entities such as Equator Homes which services 4 of the 5 biggest US mortgage companies, the US Department of Homeland Security, and the Bill and Melinda Gates Foundation plan to secure data via the Factom Protocol. About Factomize Factomize LLC is a Factom Authority Node Operator (ANO) that is currently focusing on developing software that will improve the transparency, efficiency, and accountability of Factom Protocol governance. Based upon the current price of FCT and our 0% efficiency, we have revenue of approximately $22,000 per month as we are awarded 1,123 FCT per server we run and we operate two. In theory, the more the Factom Protocol is used, the more that revenue should grow. Business Opportunities Now that we have all that out of the way, I'd like to mention some of the business opportunities there are within the Factom Protocol ecosystem. 1.Become an Authority Node Operator. Every 3-6 months a new election round for Authority Node Operators opens up. You can see the current list of ANOs here. At present, ANOs operate two Authority Servers to decentralize the protocol AND they "further the protocol" in whatever way they pledge during their campaign. In return for these services, they receive 1,123 FCT per month (minus efficiency to be explained below) to cover their bills and hopefully profit. The competition for ANO slots is heating up but if you have a talented group of people who think they can further the Factom Protocol while providing very stable, robust infrastructure, we'd love to have you campaign in the next round! 2.Apply for a grant. Each Authority Node Operator sets an "efficiency" from 0-100%. The current average efficiency is around 45%. What this means is your company decides to not receive some of its monthly FCT because it is so "efficient" and instead it goes into the Protocol Grant Pool. We just held a grant round and more than 140,000 FCT worth a current $1.4 million were awarded to companies to further the Factom Protocol in some way. Example grants that were awarded include:
If you have an idea for a way to further the Factom Protocol and the means to execute upon that idea, please apply next grant round! 3. Anyone can develop applications on top of Factom. The way Factom is designed as a pure data blockchain allows for countless unique applications to be built upon it. In my opinion, this is where billion dollar companies will emerge in the future and where I hope I generate some interest. Examples of development being done on top of Factom Include:
DBGrow has created a whole additional protocol on top of Factom called the FAT Protocol. It allows for tokenization and smart contracts that are cheaper and more flexible than even Ethereum.
These are extremely exciting times to be a part of the Factom Protocol ecosystem and I hope you will delve deeper. I welcome any questions you have and am happy to continue to answer questions for as long as people have them as I'm extremely passionate about this project.
What is important, the network creates a censorship resistant blockchain which is rendered immutable by the Bitcoin blockchain. It provides a platform where diverse parties can collaboratively publish and interact without relying on a middleman. The Factom (FCT) token is a tradable right to obligate the Factom protocol. The original supply of Factoids was set by the software token sale. Once ... How to Buy FACTOM on Bittrex: Factoids are currently trading on the limited number of exchanges and can be directly exchanged with bitcoin. Bittrex and Poloniex are the two of the popular exchanges from where you can exchange your pre-acquired crypto coins with Factoids. Other exchanges such as Upbit, Bit-Z, cryptopia Factom servers receive Factoids as a reward for maintaining the network. The network releases these rewards at a fixed rate ... CoinDesk is downplaying Factom here, but the hashes were in Factom which anchors into Bitcoin. Our people in China helped provide technical support in this case! — Paul Snow (@paulsnx2) June 29, 2018. Factom currently has over 11 million entries as well as some ... Factoids are included into the protocol to completely decentralize Factom, and to reduce bloat and spam in both Factom and Bitcoin. Factoids can be converted to Entry Credits in the protocol, and paid out to Factom servers from the protocol. They also help to bind consensus. The conversion of a Factoid to Entry Credits is done via a special purchase transaction on the Factoid Chain. One of the ... At the 2018 Texas Bitcoin Conference in Austin October 27-28, I will be presenting a unique stable coin implementation we have been researching at Factom Inc. A stable coin (or pegged token) is... READ MORE. The Bitcoin Fee Event Cometh. Bitcoin; June 17, 2016 . The best of times and the worst of times There are good news and bad news. The good news is that the number of people utilizing the ...
Factom in 2019: Still Any Potential in FCT? - YouTube
Factom is based in Austin, TX, and its primary purpose is to preserve, ensure, and validate digital assets. Factom is a record keeping network on the bitcoin blockchain. It creates permanent ... FACTOM - What Is Factom - How It Works - Factom Review ★ WEBSITE – https://factom.com ★ BUY FACTOM HERE http://iqopts.com/factom ★ TRADE OTHER CURRENCIES... Www.OneBitcoinBuy.com Get Factom price, charts, and other cryptocurrency info Factom -Extending the blockchain to the rest of the internet - Reddit Keep discussion related to the Factom project ... Factom is a utility token, which makes it more complex than those that store value (like Bitcoin). The “miners” are rewarded with “factoids” which encourages them to continue with the ... Remove all; Disconnect; The next video is starting