Factom (FCT) Price Reaches $4.17
Factom (CURRENCY:FCT) traded down 21.6% against the U.S. dollar during the 24 hour period ending at 21:00 PM E.T. on August 13th. Factom has a total market cap of $36.48 million and $780,906.00 worth of Factom was traded on exchanges in the last day. One Factom coin can now be bought for about $4.17 or 0.00067088 BTC on major cryptocurrency exchanges including BCEX, Upbit, Bit-Z and Bittrex. During the last seven days, Factom has traded 39.6% lower against the U.S. dollar.
Here is how related cryptocurrencies have performed during the last day:
- XRP (XRP) traded down 12.2% against the dollar and now trades at $0.26 or 0.00004256 BTC.
- Stellar (XLM) traded down 5.2% against the dollar and now trades at $0.21 or 0.00003418 BTC.
- Tether (USDT) traded up 0.6% against the dollar and now trades at $1.01 or 0.00016242 BTC.
- IOTA (MIOTA) traded down 20.2% against the dollar and now trades at $0.43 or 0.00006953 BTC.
- TRON (TRX) traded 19.8% lower against the dollar and now trades at $0.0181 or 0.00000292 BTC.
- NEO (NEO) traded down 19% against the dollar and now trades at $15.16 or 0.00244430 BTC.
- Binance Coin (BNB) traded down 19.3% against the dollar and now trades at $9.46 or 0.00152460 BTC.
- 0x (ZRX) traded 19.2% lower against the dollar and now trades at $0.70 or 0.00011361 BTC.
- VeChain (VET) traded down 26.5% against the dollar and now trades at $0.0067 or 0.00000108 BTC.
- IOStoken (IOST) traded down 0.3% against the dollar and now trades at $0.0396 or 0.00000526 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: Poloniex, Qryptos, Bittrex, Cryptopia, Upbit, BCEX and Bit-Z. It is usually not possible to purchase alternative cryptocurrencies such as Factom directly using U.S. dollars. Investors seeking to trade Factom should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Factom using one of the aforementioned exchanges.
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