Factom (CURRENCY:FCT) traded 1.5% lower against the U.S. dollar during the one day period ending at 20:00 PM ET on May 23rd. In the last week, Factom has traded up 12.8% against the U.S. dollar. Factom has a total market capitalization of $17.05 million and approximately $355,620.00 worth of Factom was traded on exchanges in the last 24 hours. One Factom coin can currently be purchased for approximately $1.88 or 0.00020394 BTC on exchanges including BCEX, Bit-Z, Cryptopia and Poloniex.
Here’s how similar cryptocurrencies have performed in the last 24 hours:
- Innovative Bioresearch Classic (INNBCL) traded down 0.6% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
- Tether (USDT) traded 0.4% higher against the dollar and now trades at $1.01 or 0.00010919 BTC.
- XRP (XRP) traded down 1% against the dollar and now trades at $0.20 or 0.00002159 BTC.
- Bitcoin SV (BSV) traded 0.8% lower against the dollar and now trades at $193.96 or 0.02106097 BTC.
- TAGZ5 (TAGZ5) traded up 1.3% against the dollar and now trades at $8.58 or 0.00093135 BTC.
- Binance Coin (BNB) traded down 0.7% against the dollar and now trades at $16.59 or 0.00180125 BTC.
- InnovativeBioresearchClassic (INNBCL) traded up 20.6% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
- Chainlink (LINK) traded 3.2% lower against the dollar and now trades at $3.96 or 0.00042946 BTC.
- Stellar (XLM) traded 1.1% lower against the dollar and now trades at $0.0676 or 0.00000734 BTC.
- TRON (TRX) traded up 0.8% against the dollar and now trades at $0.0150 or 0.00000163 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 the following cryptocurrency exchanges: BCEX, Bit-Z, Bittrex, Upbit, Poloniex and Cryptopia. It is usually not possible to purchase alternative cryptocurrencies such as Factom directly using US dollars. Investors seeking to trade Factom should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Factom using one of the aforementioned exchanges.
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