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Cryptographic exchange Bithumb has launched a cryptocurrency voting platform to renew the token allocation process. The users of the exchange will now be able to evaluate, validate and vote directly on the cryptocurrency projects that will be listed on the exchange of cryptocurrency.
Founded in 2013, BitHumb is one of the most popular cryptocurrency trading platforms in South Korea one of the largest exchanges based on the volume of trade and exchange offers, portfolio and additional services such as remittances. And, from this week, a new platform can be added to that list: PickThumb. The platform is launched with the aim of showing tokens that try to list the exchange of cryptocurrency.
Currently, PickThumb is in beta, but is scheduled for launch immediately after the beta has been shown correctly. With the platform, Bithumb wants to improve its overall transparency and simplify the process of quoting coins.
As per the official website of the company:
"Pickthumb is a platform for the screening of excellent coins based on your fair evaluation … users can evaluate, validate and vote directly on the cryptocurrency projects that will be listed on Bithumb, the global exchange of cryptocurrencies".
As for the operation of the entire voting process, users of the platform have the power to vote "for or against projects" in each round. This basically means this digital currencies that attract many downvotes are likely to be disqualified from the consideration of the listing. In addition, at the end of each round, Bithumb performs its own "internal review" of the winning project.
To prevent manipulation of the vote, the platform is monitored 24 hours a day, 7 days a week, and cryptographic projects identified with fraudulent activity will be immediately removed from voting time. If a user finds out to impersonate others to vote, buy votes, sell votes, motivate or advise others to vote for a project, the account can be suspended permanently.
