Factom (CURRENCY:FCT) traded up 0.9% against the dollar during the 24 hour period ending at 8:00 AM E.T. on March 15th. One Factom coin can now be bought for about $6.58 or 0.00166997 BTC on cryptocurrency exchanges including Bit-Z, Upbit, BCEX and Cryptopia. Factom has a total market capitalization of $61.87 million and approximately $72,014.00 worth of Factom was traded on exchanges in the last 24 hours. Over the last seven days, Factom has traded up 5.5% against the dollar.
Here is how related cryptocurrencies have performed over the last 24 hours:
- XRP (XRP) traded up 0.6% against the dollar and now trades at $0.32 or 0.00008002 BTC.
- Binance Coin (BNB) traded up 2.3% against the dollar and now trades at $15.24 or 0.00386870 BTC.
- Stellar (XLM) traded down 2.8% against the dollar and now trades at $0.11 or 0.00002711 BTC.
- Tether (USDT) traded 0.5% lower against the dollar and now trades at $1.01 or 0.00025589 BTC.
- TRON (TRX) traded 0.1% higher against the dollar and now trades at $0.0228 or 0.00000577 BTC.
- Bitcoin SV (BSV) traded 2% higher against the dollar and now trades at $66.87 or 0.01697103 BTC.
- NEO (NEO) traded 5.2% higher against the dollar and now trades at $9.37 or 0.00237739 BTC.
- Crypto.com Chain (CRO) traded up 64.4% against the dollar and now trades at $0.11 or 0.00002669 BTC.
- VeChain (VET) traded 2% higher against the dollar and now trades at $0.0052 or 0.00000133 BTC.
- Basic Attention Token (BAT) traded 4.6% higher against the dollar and now trades at $0.20 or 0.00004997 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 traded on the following cryptocurrency exchanges: Bittrex, Cryptopia, BCEX, Poloniex, Upbit and Bit-Z. It is usually not 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 Gemini, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Factom using one of the aforementioned exchanges.
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