Factom

This paper goes over the architecture of Factom,and describes how its components fit together. We discuss a set of attacks,and demonstrate that as long as more than half of the participants are honest,and run the protocol as defined,Factom will perform as needed. Performance slows with increased dishonesty among system actors,however. As actors fail to perform,they are replaced with new actors.

In this paper,we describe how Factom creates a distributed,autonomous protocol to cost effectively separate the Bitcoin blockchain from the Bitcoin cryptocurrency. We discuss client- defined Chains of Entries,client-side validation of Entries,a distributed consensus algorithm for recording Entries,and a blockchain anchoring approach for security.