Factom (CURRENCY:FCT) traded 2.1% lower against the US dollar during the 24 hour period ending at 18:00 PM E.T. on April 10th. Factom has a total market capitalization of $22.80 million and $62,310.00 worth of Factom was traded on exchanges in the last 24 hours. Over the last week, Factom has traded down 0.4% against the US dollar. One Factom coin can currently be purchased for approximately $2.34 or 0.00003941 BTC on major cryptocurrency exchanges.
Here is how related cryptocurrencies have performed over the last 24 hours:
- XRP (XRP) traded up 22% against the dollar and now trades at $1.30 or 0.00002198 BTC.
- Tether (USDT) traded down 0.1% against the dollar and now trades at $1.00 or 0.00001686 BTC.
- Polkadot (DOT) traded 0.5% higher against the dollar and now trades at $41.01 or 0.00069127 BTC.
- Filecoin (FIL) traded 3.4% higher against the dollar and now trades at $175.25 or 0.00295428 BTC.
- Klaytn (KLAY) traded down 5.4% against the dollar and now trades at $3.09 or 0.00005205 BTC.
- Kusama (KSM) traded 1.3% lower against the dollar and now trades at $446.95 or 0.00753438 BTC.
- Bitcoin BEP2 (BTCB) traded 0.5% higher against the dollar and now trades at $59,245.72 or 0.99872900 BTC.
- THORChain (RUNE) traded up 2.3% against the dollar and now trades at $11.89 or 0.00020041 BTC.
- KnoxFS (old) (KFX) traded 4.3% higher against the dollar and now trades at $19.25 or 0.00049793 BTC.
- Wrapped BNB (WBNB) traded up 5.3% against the dollar and now trades at $457.72 or 0.00771594 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
It is usually not currently possible to purchase alternative cryptocurrencies such as Factom directly using U.S. dollars. Investors seeking to trade Factom should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, GDAX or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Factom using one of the exchanges listed above.
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