Major South Korean cryptocurrency exchange Bithumb has beta launched a public voting system for screening new coins to be listed on its exchange. The platform, Pickthumb, aims to boost transparency and fairness in Bithumb’s listing process. Five coins are currently being evaluated with the current voting round ending in nine days.
Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations
Pickthumb is a platform for screening excellent coins based on your fair evaluation … users can directly evaluate, validate and vote on cryptocurrency projects that will be listed on global cryptocurrency exchange Bithumb.
Pickthumb’s website currently lists five crypto projects in its first round which has nine days left. Each round lasts two weeks. At the time of this writing, there have been 41,778 voters and a total of 94,983 votes.
Users can vote for or against projects in each round. Coins attracting a large number of downvotes can be disqualified from listing consideration. After each voting round has ended, Bithumb will conduct an internal review of the winning project. According to the announcement, members who vote for the winning project will receive an airdrop of the winning coin.
On Friday, Pickthumb published a notice about how it will handle vote manipulation. The notice reads:
Pickthumb is constantly monitoring the voting situation 24 hours a day for fair voting.
Furthermore, activities designed to manipulate votes can result in user accounts being permanently suspended. They include impersonating others to vote, buying votes, selling votes, and motivating or recommending others to vote in favor of a project.
Pickthumb’s website states:
Any act that requires money (or coins) for the benefit of a candidate listed for voting is a fraud.
What do you think of Bithumb’s voting platform? Let us know in the comments section below.
Images courtesy of Shutterstock, Pickthumb, and Bithumb.
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The post Bithumb Launches Voting Platform to Screen New Cryptocurrencies appeared first on Bitcoin News.
Source: NewsBtc
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