Some questions just arised for me :
When some big companies or even states want to use Factom and there are not enough Entry Credits on the market. Will Factom just be able to create new ones ?
Whenever a customer wants to purchase Entry Credits to use Factom, Factoids are converted into Entry-Credits - the converted Factoids are out of the system --> burned. So the answer is: There will always be enough Entry Credits because they are "made out of" Factoids. In a best-case-scenario that there would be very very high demand for EC's, the price of FCT would skyrocket to cover the demand. That's in fact what all Factoid-holder would like to see. ;-)
Thank you for your answers and time.
No problem!
Ok and there are more EC's available as soon as price of Factoids rise, because EC's always cost 0.1cent ?
So if one Factoid is worth 3$ now it can create 3000EC'S and the total of all Factoid's can create 8753219*3000=26259657000 now ?
Right, but the total supply is already less than that, because there is zero inflation yet but already FCT-EC-conversion:
8,747,840.79620207
https://factoid.liveAnd if you imagine that a big partnership would be announced and we all expect high EC-demand, the price of FCT already would rise because of what I often call the "psychological market" (speculation). But even if not: A high demand would have natural (real/objective) impact on the price. That's why Factoids, and that's unlike to other Coins and tokens I know of, really have value - as long as Factom is and will be widely used.
And for any record saving or transaction you need an EC or just to start a "contract" like in ethereum for example
To put up to 1kb data into Factom it needs 1 Entry-Credit.