Factom Reaches Market Capitalization of $34.91 Million (FCT)

Factom (CURRENCY:FCT) traded 0.9% lower against the dollar during the one day period ending at 8:00 AM E.T. on October 13th. During the last week, Factom has traded 15.7% lower against the dollar. One Factom coin can now be bought for $3.99 or 0.00063822 BTC on cryptocurrency exchanges including Upbit, Cryptopia, Bittrex and BCEX. Factom has a total market capitalization of $34.91 million and $44,523.00 worth of Factom was traded on exchanges in the last day.

Here is how similar cryptocurrencies have performed during the last day:

  • XRP (XRP) traded down 1.9% against the dollar and now trades at $0.42 or 0.00006703 BTC.
  • Stellar (XLM) traded 0.2% lower against the dollar and now trades at $0.22 or 0.00003463 BTC.
  • Tether (USDT) traded down 0.1% against the dollar and now trades at $0.99 or 0.00015886 BTC.
  • TRON (TRX) traded up 5.5% against the dollar and now trades at $0.0236 or 0.00000377 BTC.
  • Binance Coin (BNB) traded 0.1% lower against the dollar and now trades at $9.51 or 0.00152058 BTC.
  • NEO (NEO) traded 0.3% lower against the dollar and now trades at $15.87 or 0.00253769 BTC.
  • VeChain (VET) traded 0.8% lower against the dollar and now trades at $0.0115 or 0.00000184 BTC.
  • Maker (MKR) traded up 1.2% against the dollar and now trades at $655.37 or 0.10478455 BTC.
  • 0x (ZRX) traded down 4.6% against the dollar and now trades at $0.74 or 0.00011829 BTC.
  • IOStoken (IOST) traded down 0.3% against the dollar and now trades at $0.0396 or 0.00000526 BTC.

Factom Profile

Factom’s launch date was October 5th, 2015. Factom’s total supply is 8,745,102 coins. The Reddit community for Factom is /r/factom and the currency’s Github account can be viewed here. Factom’s official Twitter account is @factom and its Facebook page is accessible here. Factom’s official website is factom.org.

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: Upbit, Bittrex, BCEX, Bit-Z, Poloniex and Cryptopia. 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 GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Factom using one of the aforementioned exchanges.

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