Factom Tops 24-Hour Trading Volume of $79,134.00 (FCT)

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Factom (CURRENCY:FCT) traded 5.5% lower against the dollar during the 24-hour period ending at 12:00 PM E.T. on January 14th. Over the last week, Factom has traded 9.2% higher against the dollar. Factom has a market capitalization of $12.51 million and approximately $79,134.00 worth of Factom was traded on exchanges in the last 24 hours. One Factom coin can currently be purchased for $1.30 or 0.00003299 BTC on popular cryptocurrency exchanges.

Here’s how similar cryptocurrencies have performed over the last 24 hours:

  • Tether (USDT) traded 0.1% lower against the dollar and now trades at $1.00 or 0.00002528 BTC.
  • XRP (XRP) traded up 0.8% against the dollar and now trades at $0.30 or 0.00000761 BTC.
  • Polkadot (DOT) traded 27.9% higher against the dollar and now trades at $12.65 or 0.00032004 BTC.
  • Binance Coin (BNB) traded up 7.7% against the dollar and now trades at $41.70 or 0.00105503 BTC.
  • Tixl (MTXLT) traded 3.5% lower against the dollar and now trades at $79.08 or 0.00215035 BTC.
  • KnoxFS (old) (KFX) traded up 4.3% against the dollar and now trades at $19.25 or 0.00049793 BTC.
  • Neo (NEO) traded up 8.1% against the dollar and now trades at $23.44 or 0.00059306 BTC.
  • Counos X (CCXX) traded down 0.5% against the dollar and now trades at $89.75 or 0.00227052 BTC.
  • IZE (IZE) traded 4.3% higher against the dollar and now trades at $0.27 or 0.00000681 BTC.
  • yearn.finance (YFI) traded up 3.9% against the dollar and now trades at $33,296.86 or 0.84238094 BTC.

Factom Profile

Factom’s genesis date was September 1st, 2015. Factom’s total supply is 9,592,717 coins. Factom’s official Twitter account is @factom and its Facebook page is accessible here. The Reddit community for Factom is /r/factom and the currency’s Github account can be viewed here. Factom’s official website is www.factomprotocol.org. The official message board for Factom is factomize.com/forums.

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 these cryptocurrency exchanges: . It is usually not currently possible to buy alternative cryptocurrencies such as Factom directly using US dollars. Investors seeking to acquire Factom should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Factom using one of the aforementioned exchanges.

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