Factom (CURRENCY:FCT) traded 1.2% lower against the U.S. dollar during the twenty-four hour period ending at 21:00 PM Eastern on December 8th. One Factom coin can now be bought for about $2.92 or 0.00038536 BTC on popular cryptocurrency exchanges including BCEX, Bittrex, Upbit and Cryptopia. In the last week, Factom has traded up 18.2% against the U.S. dollar. Factom has a total market cap of $27.55 million and $190,003.00 worth of Factom was traded on exchanges in the last 24 hours.
Here is how similar cryptocurrencies have performed in the last 24 hours:
- XRP (XRP) traded 0.8% higher against the dollar and now trades at $0.23 or 0.00003043 BTC.
- Tether (USDT) traded down 0.6% against the dollar and now trades at $1.00 or 0.00013309 BTC.
- Binance Coin (BNB) traded 0.6% higher against the dollar and now trades at $15.69 or 0.00208199 BTC.
- Bitcoin SV (BSV) traded 1% higher against the dollar and now trades at $96.79 or 0.01284254 BTC.
- Stellar (XLM) traded down 0.4% against the dollar and now trades at $0.0554 or 0.00000735 BTC.
- TRON (TRX) traded 0.6% higher against the dollar and now trades at $0.0147 or 0.00000194 BTC.
- Chainlink (LINK) traded 0.7% higher against the dollar and now trades at $2.06 or 0.00027280 BTC.
- COZ (COZ) traded up 26.7% against the dollar and now trades at $0.22 or 0.00004541 BTC.
- NEO (NEO) traded up 1.3% against the dollar and now trades at $9.05 or 0.00120124 BTC.
- VeChain (VET) traded up 7% against the dollar and now trades at $0.0073 or 0.00000097 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 bought or sold on the following cryptocurrency exchanges: Bittrex, Bit-Z, Upbit, Poloniex, Cryptopia and BCEX. It is usually not presently possible to buy alternative cryptocurrencies such as Factom directly using US dollars. Investors seeking to trade Factom should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Factom using one of the aforementioned exchanges.
Receive News & Updates for Factom Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for Factom and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter.