Factom (CURRENCY:FCT) traded 6% lower against the dollar during the one day period ending at 21:00 PM ET on January 14th. One Factom coin can now be bought for $1.27 or 0.00002943 BTC on exchanges. Factom has a market cap of $12.87 million and $2,656.00 worth of Factom was traded on exchanges in the last 24 hours. In the last seven days, Factom has traded 9.5% higher against the dollar.
Here is how other cryptocurrencies have performed in the last 24 hours:
- Tether (USDT) traded down 0% against the dollar and now trades at $1.00 or 0.00002324 BTC.
- XRP (XRP) traded 0.3% higher against the dollar and now trades at $0.77 or 0.00001798 BTC.
- Polkadot (DOT) traded 0.3% lower against the dollar and now trades at $27.46 or 0.00063794 BTC.
- Shiba Inu (SHIB) traded 3.8% higher against the dollar and now trades at $0.0000 or 0.00000000 BTC.
- Internet Computer (ICP) traded 0.6% lower against the dollar and now trades at $31.96 or 0.00074243 BTC.
- Lido stETH (STETH) traded up 1.5% against the dollar and now trades at $3,303.56 or 0.07674115 BTC.
- stETH (Lido) (STETH) traded flat against the dollar and now trades at $3,479.19 or 0.06807369 BTC.
- Bitcoin BEP2 (BTCB) traded up 1.1% against the dollar and now trades at $42,949.55 or 0.99771071 BTC.
- Toncoin (TONCOIN) traded 1.8% higher against the dollar and now trades at $3.67 or 0.00008518 BTC.
- Filecoin (FIL) traded up 3.5% against the dollar and now trades at $29.85 or 0.00069351 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. “
Factom Coin Trading
It is usually not presently possible to buy alternative cryptocurrencies such as Factom directly using US dollars. Investors seeking to trade Factom should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Factom using one of the exchanges listed above.
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