Bithumb launches voting platform for cryptocurrencies

Tuesday 11 December 2018 00:31 CET | News

South Korea-based crypto exchange Bithumb has launched a public voting platform, aiming to screen tokens vying to list on the cryptocurrency exchange.

The public voting platform named Pickthumb is meant to strengthen the transparency of Bithumb’s cryptocurrency evaluation and listing process. As per the Pickthumb website, the platform will screen new coins based on the public’s fair evaluation, as users will be able to directly evaluate, validate and vote on cryptocurrency projects that will be listed on the cryptocurrency exchange Bithumb.

Moreover, the voting process has two rounds, each of them lasting for two weeks, and the next round will be announced in advance. However, the duration of the round may change depending on the community situation. At the beginning of the round, users can support individual cryptographic projects by exercising individual voting rights. They will be able to check the information about promotions, promotional policies, and analysis from reviewers that have participated in the voting. Lastly, if a user-sponsored project wins the poll, the crypto project will be able to air-drop the coin promised as a policy through a personal password coin purse registered in PixSum.

The platform will handle vote manipulation, as it monitors the voting situation 24/7, and crypto projects identified with fraudulent activities will be immediately removed from the voting round. If a user is found impersonating others to vote, buying votes, selling votes, and motivating or recommending others to vote in favor of a project, the account may be permanently suspended.

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Keywords: Bithumb, cryptocurrencies, exchange, South Korea, fraud, password, identity theft, listing
Countries: World