02 Aug

Kompendium Community Update – August 2019

This is Kompendium’s first ANO Community Update for August, covering from late-May to 31 July.

Following our selection as an ANO (running at 60% efficiency) in late-May, Kompendium diligently set out on two primary tasks.  The first effort was to stand up all-things corporate matters. The second effort, in parallel, was to set up our Mainnet node infrastructure.  In early June we hired a tax consultant and set up Kompendium, which the US government will treat as a C-Corp. In the end, we chose to incorporate in Nevada vice Washington state due to more favorable tax treatment and flexibility. In addition to incorporating, we set up all corporate banking accounts, cryptocurrency exchange accounts, set up our company accounting system, and a tax cryptocurrency tracking system. 

Setting up our node infrastructure was more complicated than expected.  As was detailed in our campaign document, we opted to use three providers across four datacenters to best manage security and contingency risks. However, we discovered that dedicated and virtualized servers across different providers vary widely in how they are set up and partitioned.  A good bit of time was required to standardize system administration (set up, monitoring methods, alert methods, and access/security protocols). We have had some issues with the reliability of one of the dedicated servers/providers and expect to switch provider in August. 

Kompendium’s Testnet role has been more limited than desired over this reporting period.  We hoped to get through a good deal of revamping Testnet governance, but this was delayed.  The Testnet continues to have limited participation and is underutilized. We continue to endorse a realignment of the Testnet closer to the Mainnet and to revitalize participation and interest. We are working closely with Luciap’s ChockaBlock (https://chocka.luciap.ca/) to support additional feedback on Testnet load testing performance for the monthly updates. The July update will be released on 1 August.

We spent a good amount of time designing and getting our website completed (www.kompendium.co). Kompendium also participated in all Factom Protocol Governance votes and many community discussions. 

Since being elected, Kompendium has pursued two major operational focuses, PegNet development and partnership scouting. We have met with multiple organizations in an effort to identify potential partners to expand Kompendium’s capacity to provide value to the Community. We have ambitious plans for the Protocol and we feel we need additional capacity to make our plans viable and a reality. We intend to aggressively pursue this line of effort over the coming months with the goal of securing additional capacity prior to the 2019 fourth quarter Factom Protocol grant round.

We have also been one of the dedicated ANO volunteering daily to work on PegNet. We feel PegNet has tremendous technical, economic, and marketing value for the Protocol.  PegNet potentially offers us more opportunities to show the unique and innovative way that the Factom Protocol continues to stand out and lead the pack.

Kompendium is eager to continue to get business operations up to speed, work out our processes, and bring value to the Protocol, the Community, and beyond.

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