Factom (CURRENCY:FCT) traded 1.3% higher against the US dollar during the 1 day period ending at 11:00 AM Eastern on November 12th. One Factom coin can now be bought for about $2.94 or 0.00033628 BTC on cryptocurrency exchanges including Poloniex, Bit-Z, Upbit and Bittrex. Factom has a market cap of $28.45 million and approximately $50,677.00 worth of Factom was traded on exchanges in the last 24 hours. In the last week, Factom has traded up 10.4% against the US dollar.
Here is how similar cryptocurrencies have performed in the last 24 hours:
- XRP (XRP) traded down 0.9% against the dollar and now trades at $0.27 or 0.00003117 BTC.
- Tether (USDT) traded up 0.2% against the dollar and now trades at $1.00 or 0.00011502 BTC.
- Binance Coin (BNB) traded 0.8% higher against the dollar and now trades at $20.35 or 0.00233063 BTC.
- Bitcoin SV (BSV) traded 0% lower against the dollar and now trades at $131.73 or 0.01508570 BTC.
- Stellar (XLM) traded 3.4% lower against the dollar and now trades at $0.0766 or 0.00000877 BTC.
- TRON (TRX) traded 2.2% higher against the dollar and now trades at $0.0195 or 0.00000223 BTC.
- Chainlink (LINK) traded 3.2% higher against the dollar and now trades at $2.82 or 0.00032240 BTC.
- NEO (NEO) traded 9.3% higher against the dollar and now trades at $12.26 or 0.00140449 BTC.
- COZ (COZ) traded 26.7% higher against the dollar and now trades at $0.22 or 0.00004541 BTC.
- Crypto.com Chain (CRO) traded 0.3% lower against the dollar and now trades at $0.0381 or 0.00000379 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 these cryptocurrency exchanges: Cryptopia, BCEX, Bittrex, Upbit, Poloniex and Bit-Z. It is usually not 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 Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Factom using one of the exchanges listed above.
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