Here I am working with the definition that a von Neumann factor $M$ is a type-II factor if there is no non-zero, minimal projection but there are non-zero finite projections. It is a type-II$_1$ factor if it is a type-II factor and the identity is finite.
I've read that every type-II$_1$ factor $M$ has a unique, faithful trace. Namely there is a unique linear map $\omega: M \to [0 , \infty]$ so that:
- It is a trace, i.e. $\omega \left( x y \right) = \omega \left( y x \right)$
- It is faithful $\omega \left( x^{*}x \right)=0$ implies $x=0$.
However I haven't been able to find a proof of this statement anywhere. It would be appreciated if someone could provide a proof, reference or suggest how to approach the proof myself.
This is done in several places, for instance in chapter 8 in Kadison-Ringrose; it's done in more generality, as they show that any finite von Neumann algebras has a unique central valued trace.
The "Murray-von Neumann way" is done in Sunder's An Invitation to von Neumann Algebras. Here is the (very rough) idea.
Show that two projections with the same central carrier are comparable. Conclude that in a factor all projections are comparable.
Prove an "Euclidean Algorithm" for projections: given projections $p,q\in M$, there exist projections $q_1,\ldots,q_m,r\in M$ such that $q_j\sim q$, $r\prec q$, and $p=r+\sum_jq_j$.
If $q|1$, that is if there exist $q_1,\ldots,q_m$ with $q_j\sim q$ and $\sum_jq_j=1$, define $\tau(q)=1/m$.
If $q$ admits a subprojection $q_1$ that divides both $1$ and $q$, define $\tau(q)=n/m$ where $m$ is the number of copies of $q_0$ in $1$, and $n$ the number of copies of $q_0$ in $q$.
For an arbitrary projection $p$, if $p=\sum_jq_j$ with each $q_j$ "rational" as above, define $\tau(p)=\sum_j\tau(q_j)$.
Note that the above decomposition of $p$ can always be done, as in a II$_1$ factor we have infinite divisibility of projections. With a bit of care, one can show that you can always "halve" a projction $p$, in the sense that there exist subprojections $p_1,p_2$, with $p_1p_2=0$, $p_1\sim p_2$, and $p_1+p_2=p$.
Now extend $\tau$ to linear combinations of pairwise orthogonal projections, and by taking limits to selfadjoint operators. And finally, by linearity again, to arbitrary elements.