Factom (CURRENCY:FCT) traded up 10.9% against the dollar during the 1 day period ending at 10:00 AM ET on April 12th. Factom has a total market capitalization of $24.51 million and $65,305.00 worth of Factom was traded on exchanges in the last day. One Factom coin can currently be bought for $2.51 or 0.00004177 BTC on cryptocurrency exchanges. Over the last week, Factom has traded 5.8% higher against the dollar.
Here’s how similar cryptocurrencies have performed over the last day:
- XRP (XRP) traded 2.8% higher against the dollar and now trades at $1.37 or 0.00002273 BTC.
- Tether (USDT) traded up 0.2% against the dollar and now trades at $1.00 or 0.00001665 BTC.
- Polkadot (DOT) traded 0.4% higher against the dollar and now trades at $40.33 or 0.00067027 BTC.
- Filecoin (FIL) traded 6.4% lower against the dollar and now trades at $164.81 or 0.00273945 BTC.
- Klaytn (KLAY) traded down 1.2% against the dollar and now trades at $2.95 or 0.00004905 BTC.
- Kusama (KSM) traded 4% lower against the dollar and now trades at $419.20 or 0.00696776 BTC.
- Bitcoin BEP2 (BTCB) traded up 1.2% against the dollar and now trades at $59,976.41 or 0.99689629 BTC.
- Wrapped BNB (WBNB) traded 23.3% higher against the dollar and now trades at $574.46 or 0.00954832 BTC.
- KnoxFS (old) (KFX) traded 4.3% higher against the dollar and now trades at $19.25 or 0.00049793 BTC.
- THORChain (RUNE) traded down 5.5% against the dollar and now trades at $10.85 or 0.00018038 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 presently 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 Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Factom using one of the aforementioned exchanges.
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