Factom (CURRENCY:FCT) traded 1.6% higher against the U.S. dollar during the one day period ending at 18:00 PM ET on October 28th. One Factom coin can now be bought for approximately $4.83 or 0.00074739 BTC on popular exchanges including BCEX, Upbit, Cryptopia and Bittrex. Factom has a market cap of $42.24 million and approximately $134,042.00 worth of Factom was traded on exchanges in the last day. In the last week, Factom has traded 12.1% higher against the U.S. dollar.
Here’s how other cryptocurrencies have performed in the last day:
- XRP (XRP) traded up 0.2% against the dollar and now trades at $0.46 or 0.00007090 BTC.
- Stellar (XLM) traded 0.6% higher against the dollar and now trades at $0.23 or 0.00003566 BTC.
- Tether (USDT) traded flat against the dollar and now trades at $1.00 or 0.00015398 BTC.
- TRON (TRX) traded up 0.4% against the dollar and now trades at $0.0235 or 0.00000363 BTC.
- Binance Coin (BNB) traded 0.5% lower against the dollar and now trades at $9.62 or 0.00148865 BTC.
- NEO (NEO) traded 0.2% higher against the dollar and now trades at $16.11 or 0.00249276 BTC.
- VeChain (VET) traded 0.6% higher against the dollar and now trades at $0.0109 or 0.00000169 BTC.
- Maker (MKR) traded up 0.4% against the dollar and now trades at $624.11 or 0.09656993 BTC.
- 0x (ZRX) traded 3.8% higher against the dollar and now trades at $0.82 or 0.00012631 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. “
Factom Coin Trading
Factom can be traded on these cryptocurrency exchanges: Bit-Z, Bittrex, Upbit, BCEX, Cryptopia and Poloniex. It is usually not possible to purchase alternative cryptocurrencies such as Factom directly using US dollars. Investors seeking to acquire Factom should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Factom using one of the aforementioned exchanges.
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