Factom (CURRENCY:FCT) traded 1% higher against the US dollar during the 24 hour period ending at 16:00 PM ET on November 4th. During the last seven days, Factom has traded down 5.3% against the US dollar. Factom has a market capitalization of $40.24 million and $98,865.00 worth of Factom was traded on exchanges in the last 24 hours. One Factom coin can now be bought for about $4.60 or 0.00072252 BTC on popular cryptocurrency exchanges including Bittrex, BCEX, Poloniex and Bit-Z.
Here’s how related cryptocurrencies have performed during the last 24 hours:
- XRP (XRP) traded up 2.2% against the dollar and now trades at $0.47 or 0.00007309 BTC.
- Stellar (XLM) traded 2.7% higher against the dollar and now trades at $0.24 or 0.00003827 BTC.
- Tether (USDT) traded down 3.7% against the dollar and now trades at $0.96 or 0.00015116 BTC.
- TRON (TRX) traded 3.2% higher against the dollar and now trades at $0.0234 or 0.00000367 BTC.
- Binance Coin (BNB) traded 1.5% higher against the dollar and now trades at $9.67 or 0.00151881 BTC.
- NEO (NEO) traded up 3.6% against the dollar and now trades at $16.58 or 0.00260322 BTC.
- VeChain (VET) traded up 4.4% against the dollar and now trades at $0.0107 or 0.00000169 BTC.
- Maker (MKR) traded up 5.9% against the dollar and now trades at $659.19 or 0.10351204 BTC.
- 0x (ZRX) traded down 3.4% against the dollar and now trades at $0.77 or 0.00012140 BTC.
- IOStoken (IOST) traded down 0.3% against the dollar and now trades at $0.0396 or 0.00000526 BTC.
Factom Coin Profile
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 purchased on the following cryptocurrency exchanges: BCEX, Bittrex, Upbit, Bit-Z, Poloniex and Cryptopia. It is usually not presently possible to buy alternative cryptocurrencies such as Factom directly using U.S. dollars. Investors seeking to trade Factom should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Gemini or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Factom using one of the aforementioned exchanges.
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