Factom (CURRENCY:FCT) traded 5.8% lower against the U.S. dollar during the 1 day period ending at 22:00 PM Eastern on August 21st. During the last week, Factom has traded 2.2% lower against the U.S. dollar. Factom has a total market capitalization of $29.36 million and $38,575.00 worth of Factom was traded on exchanges in the last 24 hours. One Factom coin can now be bought for about $3.02 or 0.00030641 BTC on cryptocurrency exchanges including Poloniex, Bit-Z, Bittrex and Cryptopia.
Here is how other cryptocurrencies have performed during the last 24 hours:
- XRP (XRP) traded down 3.5% against the dollar and now trades at $0.26 or 0.00002652 BTC.
- Binance Coin (BNB) traded down 4.2% against the dollar and now trades at $26.76 or 0.00269116 BTC.
- Tether (USDT) traded 0.5% lower against the dollar and now trades at $1.00 or 0.00010008 BTC.
- Bitcoin SV (BSV) traded down 6.4% against the dollar and now trades at $130.65 or 0.01313800 BTC.
- Stellar (XLM) traded down 2.4% against the dollar and now trades at $0.0682 or 0.00000686 BTC.
- TRON (TRX) traded down 4.1% against the dollar and now trades at $0.0168 or 0.00000169 BTC.
- Chainlink (LINK) traded down 7.8% against the dollar and now trades at $2.18 or 0.00021945 BTC.
- NEO (NEO) traded down 5.1% against the dollar and now trades at $9.38 or 0.00094349 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 3.7% lower against the dollar and now trades at $0.0427 or 0.00000429 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. “
Buying and Selling Factom
Factom can be traded on these cryptocurrency exchanges: Upbit, Cryptopia, BCEX, Bittrex, 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 Coinbase, 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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