8

Factom seeks to be a distributed and autonomous protocol, like Bitcoin. There is no terms of service. Instead, Factom uses a token (factoid) to reward servers for running the protocol. Independently, the protocol requires users to use Entry Credits (which act like accounts) to create chains and add entries to those chains. Factoids are converted into Entry ...


6

Factom stores data in a blockchain that's maintained by their network of federated servers. Tierion is an engine for anchoring your data to the blockchain. No altcoin required. We've created an open standard called Chainpoint for anchoring data in the blockchain. Like Factom, we use Merkle trees and periodically insert a transaction containing a Merkle root ...


4

Well, it's probably not an intended function of the block chain, but I wouldn't call it "unfriendly" because you're not really harming anybody (by reducing the total amount of bitcoins available you're in fact increasing the value of all other bitcoins a little). [...] future versions of the protocol may prevent this type of transaction from being ...


3

Just to give a quick update on this, it is no longer necessary to "burn" bitcoins when creating a proof of existence. The OP_RETURN opcode re-enabled in Bitcoin Core 0.9 can be used to carry 40 bytes of arbitrary data. The coin associated with it will be added to the transaction fee and can be claimed by the miner. Reading the about page it seems ...


2

As mentioned in the comments, I can certainly see the benefit of using the immutable recording function of the blockchain to identify and record parameters, in this case MAC (media access control) addresses, which are unique to each device. Here a few challenges which will need to be overcome: having a device's MAC details would be fantastic for tracking ...


2

First you need to be a lot more specific about what you need: who do you need to prove what to? Who is going to try to censor you? Who needs to be able to verify? Simply create your own database records with the tweets and hashes in them, each hash also including the hash of the previous tweet and other meta data that important (timestamp?, sender?, ...


2

At the time Bitcoin was invented PoS, PoD, PoE, did not yet exist. Having said that PoW is arguably still the most secure today. The most popular PoW alternative today. PoS will always arguably be vulnerable due to the "Nothing at Stake" problem: https://download.wpsoftware.net/bitcoin/pos.pdf "The point is this: even if stakeholders are bonding coins ...


1

There exist various services which allow you to embed data in the blockchain. The first example of this is proofofexistence, which takes a file and store its hash in the blockchain. Since you already have the hash, and you just want to embed it in the blockchain, you need something like this service. I didn't try it, but since they have a GitHub page, i ...


1

I am not aware of any cases, but based on the long delay in relevant cases concerning the fax machine and email (proof of delivery, timestamps, etc) I would not expect such a blockchain specific case law decision anytime soon. Technology advances far faster than the law.


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