Factom (CURRENCY:FCT) traded 7.9% higher against the dollar during the one day period ending at 18:00 PM Eastern on November 19th. One Factom coin can currently be purchased for approximately $3.02 or 0.00036685 BTC on cryptocurrency exchanges including Cryptopia, Upbit, BCEX and Bittrex. Factom has a total market cap of $28.90 million and $101,744.00 worth of Factom was traded on exchanges in the last 24 hours. Over the last week, Factom has traded 4% higher against the dollar.
Here is how similar cryptocurrencies have performed over the last 24 hours:
- XRP (XRP) traded up 0.3% against the dollar and now trades at $0.26 or 0.00003129 BTC.
- Tether (USDT) traded 0.2% lower against the dollar and now trades at $1.01 or 0.00012281 BTC.
- Binance Coin (BNB) traded 3.3% lower against the dollar and now trades at $18.75 or 0.00228144 BTC.
- Bitcoin SV (BSV) traded 5.3% lower against the dollar and now trades at $111.71 or 0.01359277 BTC.
- Stellar (XLM) traded down 4% against the dollar and now trades at $0.0654 or 0.00000796 BTC.
- TRON (TRX) traded 2% lower against the dollar and now trades at $0.0171 or 0.00000208 BTC.
- Chainlink (LINK) traded 3.7% lower against the dollar and now trades at $2.74 or 0.00033352 BTC.
- NEO (NEO) traded up 2.8% against the dollar and now trades at $11.84 or 0.00144074 BTC.
- COZ (COZ) traded up 26.7% against the dollar and now trades at $0.22 or 0.00004541 BTC.
- VeChain (VET) traded 6.6% lower against the dollar and now trades at $0.0070 or 0.00000085 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. “
Buying and Selling Factom
Factom can be bought or sold on the following cryptocurrency exchanges: Bit-Z, Poloniex, Bittrex, BCEX, Cryptopia and Upbit. It is usually not currently possible to buy alternative cryptocurrencies such as Factom directly using U.S. dollars. Investors seeking to acquire Factom should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Factom using one of the aforementioned exchanges.
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