Factom (CURRENCY:FCT) traded 6.8% higher against the dollar during the twenty-four hour period ending at 20:00 PM E.T. on May 19th. Factom has a total market capitalization of $86.00 million and $178,101.00 worth of Factom was traded on exchanges in the last 24 hours. One Factom coin can now be purchased for approximately $9.08 or 0.00110570 BTC on major cryptocurrency exchanges including Bit-Z, Bittrex, Upbit and BCEX. During the last seven days, Factom has traded 2.5% lower against the dollar.
Here is how related cryptocurrencies have performed during the last 24 hours:
- XRP (XRP) traded up 11.7% against the dollar and now trades at $0.42 or 0.00005073 BTC.
- Binance Coin (BNB) traded 4.9% higher against the dollar and now trades at $29.49 or 0.00359080 BTC.
- Tether (USDT) traded up 1.8% against the dollar and now trades at $1.02 or 0.00012364 BTC.
- Stellar (XLM) traded 10.2% higher against the dollar and now trades at $0.14 or 0.00001731 BTC.
- TRON (TRX) traded up 9.4% against the dollar and now trades at $0.0295 or 0.00000359 BTC.
- Bitcoin SV (BSV) traded up 10% against the dollar and now trades at $65.88 or 0.00802102 BTC.
- NEO (NEO) traded 9.6% higher against the dollar and now trades at $11.80 or 0.00143684 BTC.
- COZ (COZ) traded 26.7% higher against the dollar and now trades at $0.22 or 0.00004541 BTC.
- Basic Attention Token (BAT) traded 2.6% higher against the dollar and now trades at $0.39 or 0.00004697 BTC.
- VeChain (VET) traded up 3.2% against the dollar and now trades at $0.0081 or 0.00000098 BTC.
According to CryptoCompare, “Will Factoids have their own blockchain? Ultimately Factoids will be implemented on their own Chain in Factom. For the crowd sale, other options are possible. How are Factoids created? Two ways. Factoids will be created as a part of the crowd sale. Secondly, Factoids will be created at a fixed rate and paid to the Factom Servers and Audit Servers for their work running the system, and to pay other incentives. Is there a separate Proof of Work or other consensus mechanism for factoids, independent of factom? No. That said, the Factom chain and the Entry chain are managed by the Factom Servers (they are the application using these chains) so they validate them in real time. No invalid entries can be placed in these chains. How do factoids get sent back to the protocol? Is it a kind of burn? No. The Entry Credits are burned. Entry Credits are non transferable. They can only be used to buy entries. But when they DO buy entries, the Factoid in the protocol that was used to buy the Entry Credits is released. The amount of Factoids varies since the price of Entry Credits per Factoid varies. The Factoid paid out is calculated by dividing the total number of Factoid in the protocol by the number of outstanding Entry Credits. The number of Factoids in the protocol and the number of outstanding Entry Credits are all computable from the Entry Chain and the Factoid Chain. “
Factom Coin Trading
Factom can be traded on the following cryptocurrency exchanges: Cryptopia, Poloniex, Bit-Z, Upbit, Bittrex and BCEX. It is usually not possible to purchase alternative cryptocurrencies such as Factom directly using US dollars. Investors seeking to trade Factom should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Factom using one of the exchanges listed above.
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