The new factoid address will be unique to your wallet and different from our example.
Generate an Entry Credit Address
Perform this step only if you intend to make entries into Factom or want to stock up on Entry Credits (EC) for future use. Remember, ECs are non-transferrable and cannot be sold or traded on an exchange. Make sure you need them before you go ahead.
The new EC address will be unique to your wallet and different from the above.
Congratulations on your first EC address. You are seriously killing it.
Send and Receive Factoids
To send Factoids (FCT) from your local wallet to an external Factoid Address (FA) you will need a source address and a destination address to execute the necessary command.
You need to perform this action when you want to send FCT to an exchange, a friend, or a third party.
Assuming you have already created a local FA address (source address) and have a destination address, you will need to:
Note that your FA addresses and FCT amount will be different.
In this example, the sendfct command moved 1.234 FCT from the source address to the destination address. You should be able to see the Transaction ID (TxID) on the terminal.
To receive Factoids use the same command as above. For instance, you may move FCT between two FA addresses within your local wallet.
However, if you are sending yourself FCT from an exchange or want to receive FCT from a third party, just provide your FA Address. Once sent you can verify your local FCT balance.
The TxID is a very useful way to verify that FCT have moved to the correct address. We recommend noting it down especially when sending or receiving to and from a third party.
Convert Factoids to Entry Credits
“It’s still magic even if you know how it’s done.”― Terry Pratchett, A Hat Full of Sky
Before we automagically convert Factoids (FCT) to Entry Credits (EC), here is how the spell works. FCT are burned to create ECs. The number of FCT used will be deducted from your wallet’s balance, so don’t freak out when you see your FCT balance reduced. Just look for the newly created ECs on the EC address. Now if you don’t see the newly created ECs, it’s time to freak out and repeat these words, “Houston, we have a problem.” (Disclaimer: Factom has no customer service center in Houston.)
You will need a source address containing some FCT and a destination EC address to be able to execute the necessary command.
In this example, we assume that you have already created a local EC address (destination) and you have some FCT in your local FA address (source).
Remember this is an example, and your FA and EC address, as well as the amount, will be different.
The buyec command burned some Factoids from the FA address and deposited 30 EC in the specified EC address. The Terminal also presented the TxID (Transaction ID). The TxID is useful for checking that ECs have moved to the right address. Take note of it for your records.
Redeem Factoids from Koinify
This section is relevant if you participated in the Koinify Software Token Sale hosted by Koinify back in 2015 and haven’t redeemed your Factoids (FCT). Although Koinify closed their operations, they never held your FCT, and you only need your 12-word master passphrase to access your FCT.
The 12-word master passphrase can be used with the factom-cli importwords command to create the crypto signatures required to reassign the Factoids to another address or purchase Entry Credits. So, go find that magical piece of paper where you wrote down your unique 12-word magic spell and follow the instructions below:
The operation will create a new Factoid Address in your local wallet and present the public key in the terminal output as shown above. Make a note of the FA address for your records. You will need it to verify that the FA address successfully imported with its balance.
Run the listaddresses command to list all the addresses in your wallet.
In this example, we successfully imported the FA address showing a balance of 20 factoids. The terminal output will give you a list of all FA and EC addresses in your wallet with their current balances.
The 12-word master passphrase was shown once at the time of purchase to contributors who were prompted to keep it in a safe place. Without the Master Passphrase, it is impossible to redeem Factoids, and neither Factom nor Koinify can recover it. Do not share your passphrase with anybody or they will be able to access your FCT. There is no expiry date for the 12-word master passphrase. You will be able to redeem your FCT at your leisure, anytime in the future.
Import a Private Key
To import a Factoid Address (FA) created with the Factoid Papermill app or by a third party you need the Factoid Private Key for the FA you want to import.
To make entries in Factom, you must create a Factom Chain where your entries will be recorded. You can create as many chains as you like. Just remember, it’s a BYOEC party. You know… bring your own entry credit party. (We know…what you are thinking. This is why we do Blockchains and not Standup)
Creating a chain in Factom has a fee of 10 Entry Credits, so make sure your EC address balance can cover it.
In the factom-cli Terminal window run the addentry command as constructed below:
echo"my first entry"| factom-cli addentry -c a4ab1e2ef212208b3513c5f06fcdcfa79b7c2b610526ce2dc374bb789700a791 EC27kDNpFcJQwvdpFXaXjPqhtDSf6VK8kRN8Fv7EkhvS9tVkuAfX
In your case, the only differences will be the name between quotes, the ChainID, and the EC address.
The name of the entry can be anything you want. In our example “my first entry” is the name of the new entry. Our ChainID a4ab1e2ef212208b3513c5f06fcdcfa79b7c2b610526ce2dc374bb789700a791 should be replaced by your own.
Finally, the EC address above should be replaced by your own, again, make sure it has enough EC balance to cover the fee.
Terminal output for:
> echo "my first entry" | factom-cli addentry -c a4ab1e2ef212208b3513c5f06fcdcfa79b7c2b610526ce2dc374bb789700a791 EC27kDNpFcJQwvdpFXaXjPqhtDSf6VK8kRN8Fv7EkhvS9tVkuAfX
You may notice that there are two entries in the new chain even though you only made one. This is because every time a new chain is created, it generates an entry containing its assigned name. The second entry, *Entry [ 1 ]*, is the first entry we made in the new chain, the one we named “my first entry.”
This simple guide is designed to show how chains and entries work in Factom. Refer to the factom-cli help by typing the below command for more options.
You can then explore other ways and more command flags you can run to make entries suited for your needs. We will also release more advanced guides in the near future. Stay tuned!
Factoid Papermill is an app to create private and public factoid address key pairs, the equivalent to a paper wallet for Factoids.
Factoids can be managed using the command line or the GUI wallet, which is a bit prettier.
Both the command-line and GUI wallets can import private keys generated with Factoid Papermill.
Before attempting to transact factoids read this guide fully, at least once.
The Factoid Papermill app has a different name on different platforms.
Download the appropriate version and double-click to open.
Upon launching it will automatically generate a new Factoid Private Key and its relative Factoid Address.
Terminal output for:
> ~/factoidpapermill ; exit;
New Factoid Private Key: Fs2kwahPso3AKLNhcLSAeCLaYVzQ26jZbaHWamw1FipNiH8c9Uhv
New Factoid Address: FA39PmdJiiHjNAJN9Nj2GMUnBYnqn8KqiLNnvmVAifL39PAWQjyx
...copying shared history...
...saving history...truncating history files...
Take note of the FA Address and Private Key and keep them in a safe place. If you need more addresses and private keys repeat the process. You can use your newly generated Factoid Address to receive factoids from a third party or an exchange. This method of storing factoids is considered a “cold wallet” or “paper wallet.”
Your New Factoid Private Key and New Factoid Address will be different than this example. Remember you won’t be able to send from your new address until you have imported it into one of your wallets.
Failure to backup the Private Key generated by Factoid Papermill for a given Factoid Address will cause the loss of all factoids held, sent, or received by these addresses.
If on Mac and Linux Factoid Papermill doesn’t launch because of missing execute permissions simply open a Terminal window and type:
Then drag and drop the app onto the Terminal window to populate its path, and click enter. You should then be able to run FactoidPapermill as described above.
Compile Factom Federation
Quick-start guide to help you compile and run Factom Federation software.
Requirements not covered in guide
GoLang (golang 1.7.4 recommended)
Glide Package Manager
Automatic install method:
curl https://glide.sh/get | sh
Manual installation can be found here: https://glide.sh/
BEFORE BUILDING FACTOMD! Glide can use GitHub to gather all dependencies, but there is a chance your local GitHub repos could cause some errors. If glide runs into an issue downloading a dependency, try deleting that folder it complains about (90% of dependencies are in ’$GOPATH/src/github.com/FactomProject/’), and run glide install again.
This will take some time and place the source code into your GOPATH:
go get github.com/FactomProject/factomd
Cd into factomd:
By default, the master branch will be selected. If you wish to build a different branch, change it now.
Use glide to install all the dependencies:
Now install factomd, go install will place the binary in $GOPATH/bin:
go install -v
If you wish the binary to be built in the active directory: