Factom (CURRENCY:FCT) traded up 2.5% against the dollar during the 24 hour period ending at 23:00 PM Eastern on June 28th. In the last week, Factom has traded down 2.6% against the dollar. One Factom coin can currently be purchased for $1.64 or 0.00018025 BTC on popular cryptocurrency exchanges including Poloniex, Upbit, Cryptopia and Bit-Z. Factom has a market cap of $15.18 million and approximately $299,902.00 worth of Factom was traded on exchanges in the last day.
Here is how other cryptocurrencies have performed in the last day:
- Innovative Bioresearch Classic (INNBCL) traded up 64.1% against the dollar and now trades at $0.0004 or 0.00000005 BTC.
- Tether (USDT) traded down 0.1% against the dollar and now trades at $1.00 or 0.00010999 BTC.
- XRP (XRP) traded up 1% against the dollar and now trades at $0.18 or 0.00001952 BTC.
- Bitcoin SV (BSV) traded down 0.1% against the dollar and now trades at $159.26 or 0.01745164 BTC.
- Binance Coin (BNB) traded up 2.4% against the dollar and now trades at $15.47 or 0.00169503 BTC.
- InnovativeBioresearchClassic (INNBCL) traded 20.6% higher against the dollar and now trades at $0.0000 or 0.00000000 BTC.
- Chainlink (LINK) traded 4.2% higher against the dollar and now trades at $4.59 or 0.00050323 BTC.
- Stellar (XLM) traded 3.3% higher against the dollar and now trades at $0.0647 or 0.00000709 BTC.
- TRON (TRX) traded 3.2% higher against the dollar and now trades at $0.0159 or 0.00000175 BTC.
- Neo (NEO) traded 3.5% higher against the dollar and now trades at $10.06 or 0.00110274 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, Cryptopia, BCEX, Bittrex and Upbit. It is usually not presently possible to buy alternative cryptocurrencies such as Factom directly using US dollars. Investors seeking to acquire Factom should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Changelly or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Factom using one of the exchanges listed above.
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