Quote from: BitcoinSanDiego on September 21, 2015, 10:54:52 PM

doesn't understand how a federated server model works on top of Bitcoin PoW blockchain

You seem a bit confused as you like to use "hype" words such as "built on top of bitcoin". What factom does is use bitcoins blockchain to store hashes with high security. Nothing more than that happens with bitcoin.

The idea of storing hashed data on a different blockchain than bitcoin is a good idea. The problem with factom is they are using a centralized mining structure. Centralization loses in the end.

Factom could have used and edited bitcoins c++ PoW code base, any c++ PoS code base or any of Ethereums various PoW code bases. Of course none of those code bases have centralized mining. Probably easier to just make a new code base.

A decentralized platform for storing hashed data will come out before the next few years are up. It will be more secure and cheaper than Factom. There was really no point in building Factom other than to help someone else create a decentralized cryptocoin/blockchain that stores hashes similar to how factom does it.