Factom (CURRENCY:FCT) traded 4.9% lower against the dollar during the 24-hour period ending at 13:00 PM Eastern on October 20th. One Factom coin can now be bought for $2.84 or 0.00035163 BTC on popular exchanges including BCEX, Bit-Z, Bittrex and Upbit. During the last week, Factom has traded 19.9% lower against the dollar. Factom has a total market cap of $27.90 million and $551,087.00 worth of Factom was traded on exchanges in the last 24 hours.

Here’s how other cryptocurrencies have performed during the last 24 hours:

  • XRP (XRP) traded 0.3% higher against the dollar and now trades at $0.29 or 0.00003642 BTC.
  • Tether (USDT) traded 0.3% lower against the dollar and now trades at $1.00 or 0.00012446 BTC.
  • Binance Coin (BNB) traded down 0.2% against the dollar and now trades at $18.27 or 0.00226422 BTC.
  • Bitcoin SV (BSV) traded up 2.5% against the dollar and now trades at $93.14 or 0.01154052 BTC.
  • Stellar (XLM) traded flat against the dollar and now trades at $0.0634 or 0.00000786 BTC.
  • TRON (TRX) traded 1.1% lower against the dollar and now trades at $0.0155 or 0.00000192 BTC.
  • Chainlink (LINK) traded down 0.6% against the dollar and now trades at $2.36 or 0.00029223 BTC.
  • COZ (COZ) traded 26.7% higher against the dollar and now trades at $0.22 or 0.00004541 BTC.
  • NEO (NEO) traded up 1% against the dollar and now trades at $7.23 or 0.00089573 BTC.
  • Crypto.com Chain (CRO) traded down 0.3% against the dollar and now trades at $0.0381 or 0.00000379 BTC.

Factom Coin Profile

Factom’s genesis date was October 5th, 2015. Factom’s total supply is 9,824,129 coins. The Reddit community for Factom is /r/factom and the currency’s Github account can be viewed here. The official website for Factom is factom.org. Factom’s official Twitter account is @factom and its Facebook page is accessible here.

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 purchased on the following cryptocurrency exchanges: Cryptopia, Bit-Z, BCEX, Upbit, Poloniex and Bittrex. It is usually not possible to buy alternative cryptocurrencies such as Factom directly using US dollars. Investors seeking to trade Factom should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Factom using one of the aforementioned exchanges.

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