Factom (CURRENCY:FCT) traded down 11.2% against the dollar during the 24-hour period ending at 19:00 PM ET on September 20th. One Factom coin can now be bought for approximately $1.44 or 0.00003339 BTC on major exchanges. Over the last week, Factom has traded 14.1% lower against the dollar. Factom has a market capitalization of $14.53 million and $24,175.00 worth of Factom was traded on exchanges in the last day.
Here’s how similar cryptocurrencies have performed over the last day:
- Tether (USDT) traded down 0.1% against the dollar and now trades at $1.00 or 0.00002316 BTC.
- XRP (XRP) traded down 12.1% against the dollar and now trades at $0.92 or 0.00002137 BTC.
- Polkadot (DOT) traded 15.1% lower against the dollar and now trades at $28.40 or 0.00065782 BTC.
- Filecoin (FIL) traded down 8.9% against the dollar and now trades at $75.39 or 0.00174623 BTC.
- Internet Computer (ICP) traded down 15.2% against the dollar and now trades at $48.17 or 0.00111569 BTC.
- eCash (XEC) traded 8.9% lower against the dollar and now trades at $0.0002 or 0.00000000 BTC.
- stETH (Lido) (STETH) traded 9.7% lower against the dollar and now trades at $2,958.20 or 0.06852373 BTC.
- Bitcoin BEP2 (BTCB) traded down 8.3% against the dollar and now trades at $43,052.93 or 0.99727726 BTC.
- Kusama (KSM) traded down 16.4% against the dollar and now trades at $333.47 or 0.00772452 BTC.
- SHIBA INU (SHIB) traded 13.5% lower against the dollar and now trades at $0.0000 or 0.00000000 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
It is usually not currently possible to purchase alternative cryptocurrencies such as Factom directly using U.S. dollars. Investors seeking to acquire Factom should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. 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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