Factom (FCT) Achieves Market Capitalization of $3.57 Million

Factom (FCT) traded down 3.8% against the dollar during the twenty-four hour period ending at 21:00 PM Eastern on August 18th. Factom has a market capitalization of $3.57 million and $3,883.00 worth of Factom was traded on exchanges in the last 24 hours. During the last week, Factom has traded 1.9% lower against the dollar. One Factom coin can now be bought for approximately $0.34 or 0.00001500 BTC on popular cryptocurrency exchanges.

Here is how similar cryptocurrencies have performed during the last 24 hours:

  • JUMPN (JST) traded 54% lower against the dollar and now trades at $5.46 or 0.00018651 BTC.
  • Tarality (TARAL) traded 6.4% lower against the dollar and now trades at $0.0009 or 0.00000004 BTC.
  • The Web3 Project (WEB3) traded 213.7% higher against the dollar and now trades at $517.71 or 0.02213862 BTC.
  • Tether (USDT) traded 0% lower against the dollar and now trades at $1.00 or 0.00004369 BTC.
  • Sweet SOL (SSOL) traded 600.9% higher against the dollar and now trades at $0.0001 or 0.00000000 BTC.
  • Bitsubishi (BITSU) traded up 37.7% against the dollar and now trades at $98.34 or 0.00428675 BTC.
  • XRP (XRP) traded 4.1% lower against the dollar and now trades at $0.36 or 0.00001592 BTC.
  • Wrapped Cardano (WADA) traded down 5.1% against the dollar and now trades at $0.51 or 0.00002215 BTC.
  • Enegra (EGX) (EGX) traded up 0.1% against the dollar and now trades at $168.52 or 0.00736272 BTC.
  • Lido stETH (STETH) traded down 0.6% against the dollar and now trades at $2,947.45 or 0.07417648 BTC.

Factom Coin Profile

Factom’s genesis date was September 1st, 2015. Factom’s total supply is 10,402,698 coins. The Reddit community for Factom is /r/factom and the currency’s Github account can be viewed here. The official website for Factom is www.factomprotocol.org. Factom’s official Twitter account is @factom and its Facebook page is accessible here. The official message board for Factom is factomize.com/forums.

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 buy alternative cryptocurrencies such as Factom directly using U.S. dollars. Investors seeking to trade Factom should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Factom using one of the exchanges listed above.

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