Factom (CURRENCY:FCT) traded up 0.3% against the US dollar during the 1-day period ending at 19:00 PM Eastern on September 28th. One Factom coin can currently be purchased for approximately $1.50 or 0.00003580 BTC on major cryptocurrency exchanges. In the last week, Factom has traded up 1.6% against the US dollar. Factom has a total market cap of $15.11 million and $12,597.00 worth of Factom was traded on exchanges in the last 24 hours.
Here’s how similar cryptocurrencies have performed in the last 24 hours:
- Tether (USDT) traded 0% lower against the dollar and now trades at $1.00 or 0.00002389 BTC.
- XRP (XRP) traded down 1.4% against the dollar and now trades at $0.91 or 0.00002184 BTC.
- Polkadot (DOT) traded 3.1% lower against the dollar and now trades at $26.94 or 0.00064355 BTC.
- Internet Computer (ICP) traded down 3.3% against the dollar and now trades at $41.79 or 0.00099839 BTC.
- Filecoin (FIL) traded 7.4% lower against the dollar and now trades at $56.12 or 0.00134065 BTC.
- eCash (XEC) traded up 11.9% against the dollar and now trades at $0.0003 or 0.00000001 BTC.
- Bitcoin BEP2 (BTCB) traded 2.7% lower against the dollar and now trades at $41,679.31 or 0.99574746 BTC.
- stETH (Lido) (STETH) traded down 3.8% against the dollar and now trades at $2,871.07 or 0.06859182 BTC.
- SHIBA INU (SHIB) traded 0.4% higher against the dollar and now trades at $0.0000 or 0.00000000 BTC.
- Kusama (KSM) traded up 1% against the dollar and now trades at $321.61 or 0.00768346 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
It is usually not possible to purchase alternative cryptocurrencies such as Factom directly using US dollars. Investors seeking to acquire Factom should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Factom using one of the exchanges listed above.
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