Factom (CURRENCY:FCT) traded down 4.3% against the US dollar during the 24 hour period ending at 18:00 PM E.T. on November 10th. One Factom coin can currently be bought for $3.04 or 0.00033480 BTC on popular exchanges including Bittrex, BCEX, Poloniex and Cryptopia. Factom has a market cap of $29.44 million and $99,292.00 worth of Factom was traded on exchanges in the last 24 hours. In the last week, Factom has traded up 28.7% against the US dollar.
Here’s how similar cryptocurrencies have performed in the last 24 hours:
- XRP (XRP) traded 0.6% higher against the dollar and now trades at $0.28 or 0.00003095 BTC.
- Tether (USDT) traded up 0.3% against the dollar and now trades at $1.00 or 0.00011043 BTC.
- Binance Coin (BNB) traded 4% higher against the dollar and now trades at $20.55 or 0.00226221 BTC.
- Bitcoin SV (BSV) traded up 4.5% against the dollar and now trades at $135.13 or 0.01487420 BTC.
- Stellar (XLM) traded 7.8% higher against the dollar and now trades at $0.0784 or 0.00000863 BTC.
- TRON (TRX) traded 2.8% higher against the dollar and now trades at $0.0195 or 0.00000214 BTC.
- Chainlink (LINK) traded down 1.2% against the dollar and now trades at $2.77 or 0.00030527 BTC.
- NEO (NEO) traded 4% higher against the dollar and now trades at $11.09 or 0.00122071 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 down 0.3% 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 traded on the following cryptocurrency exchanges: Bit-Z, Upbit, Bittrex, Poloniex, Cryptopia and BCEX. 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 Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Factom using one of the aforementioned exchanges.
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