Bithumb launches the voting platform to screen new cryptocurrencies

exchanges

Greater South Korean cryptocurrency exchange Bithumb has launched a public voting system for screening new currencies to be listed in its exchange. The platform, Pickthumb, aims to increase transparency and fairness in Bithumb's listing process. Five coins are currently under evaluation with the current voting round which ends in nine days.

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Bithumb voting platform

<img class = "size-medium wp-image-258046 alignright” title=”Bithumb launches the voting platform to view new cryptocurrencies before inclusion” src=”https://news.bitcoin.com/wp-content/uploads/2018/12/bithumb-logo-300×75.png” alt=”Bithumb launches the voting platform to view new cryptocurrencies before the list "width =" 300 "height =" 75 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/12/ bithumb-logo-300×75. png 300w, https://news.bitcoin.com/wp-content/uploads/2018/12/bithumb-logo-768×193.png 768w, https://news.bitcoin.com/wp-content/uploads/2018/ 12 / bithumb-logo-1024×257.png 1024w, https://news.bitcoin.com/wp-content/uploads/2018/12/bithumb-logo-696×174.png 696w, https://news.bitcoin.com/ wp-content / uploads / 2018/12 / bithumb-logo-1068×268.png 1068w, https://news.bitcoin.com/wp-content/uploads/2018/12/bithumb-logo.png 1141w "sizes =" ( maximum width: 300px) 100vw, 300px”/>One of South Korea's largest cryptocurrant exchanges, Bithumb, announced on Tuesday the launch of Pickthumb, its public voting platform for currencies to be listed on the stock exchange. The purpose of this new platform is to strengthen the "transparency and correctness" of the evaluation of Bithumb's cryptocurrency and of the listing process, the detailed exchange. According to his website:

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.

<img class = "size-medium wp-image-258049 alignright” title=”Bithumb launches the voting platform to view new cryptocurrencies before inclusion” src=”https://news.bitcoin.com/wp-content/uploads/2018/12/pickthumb-logo-300×51.png” alt=”Bithumb launches the voting platform to view new cryptocurrencies before the list "width =" 300 "height =" 51 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/12/ pickthumb-logo-300×51. png 300w, https://news.bitcoin.com/wp-content/uploads/2018/12/pickthumb-logo.png 640w "sizes =" (maximum width: 300px) 100vw, 300px”/>Bithumb explained that all registered users can participate, adding that members can actively give their opinions and "exercise more influence" on the currencies to be quoted on the stock exchange. Going forward, Bithumb states that "it will try to promote a healthy cryptocurrency ecosystem in which investors can believe".

<img class = "size-large wp-image-258017 aligncenter” title=”Bithumb launches the voting platform to screen new cryptocurrencies” src=”https://news.bitcoin.com/wp-content/uploads/2018/12/pickthumb-front-1024×389.png” alt=”Bithumb launches Voting Platform to Screen New Cryptocurrencies "width =" 696 "height =" 264 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/12/pickthumb-front-1024×389.png 1024w , https://news.bitcoin.com/wp-content/uploads/2018/12/pickthumb-front-300×114.png 300w, https://news.bitcoin.com/wp-content/uploads/2018/12/ pickthumb-front-768×292.png 768w, https://news.bitcoin.com/wp-content/uploads/2018/12/pickthumb-front-696×265.png 696w, https://news.bitcoin.com/wp- content / upload / 2018/12 / pickthumb-front-1068×406.png 1068w, https://news.bitcoin.com/wp-content/uploads/2018/12/pickthumb-front-1104×420.png 1104w, https: // news.bitcoin.com/wp-content/uploads/2018/12/pickthumb-front.png 1383w "sizes =" (maximum width: 696px) 100vw, 696px”/>

Five projects, over 40,000 voters so far

The Pickthumb website currently lists five cryptographic projects in its first round, which still has nine days. Each round lasts two weeks. At the time of writing, there were 41,778 voters and a total of 94,983 votes.

<img class = "wp-image-258033 alignright” title=”Bithumb launches the voting platform to screen new cryptocurrencies” src=”https://news.bitcoin.com/wp-content/uploads/2018/12/projects-1024×688.png” alt=”Bithumb launches Voting Platform to Screen New Cryptocurrencies "width =" 450 "height =" 302 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/12/projects-1024×688.png 1024w, https : //news.bitcoin.com/wp-content/uploads/2018/12/projects-300×202.png 300w, https://news.bitcoin.com/wp-content/uploads/2018/12/projects-768×516. png 768w, https://news.bitcoin.com/wp-content/uploads/2018/12/projects-696×468.png 696w, https://news.bitcoin.com/wp-content/uploads/2018/12/ projects-625×420.png 625w, https://news.bitcoin.com/wp-content/uploads/2018/12/projects.png 1039w "sizes =" (maximum width: 450px) 100vw, 450px”/>The five projects are Roma, Amo Blockchain, Ttcprotocol, Olivecoinole and Contentos.

Users can vote for or against projects in each round. Coins that attract a large number of downvotes can be disqualified from the consideration of the quote. At the end of each voting round, Bithumb will conduct an internal review of the winning project. According to the announcement, the members who vote for the winning project will receive an airdrop of the winning coin.

Penalties for manipulation of the vote

Friday, Pickthumb published a notice on how to handle the manipulation of the vote. The notice reads:

Pickthumb constantly monitors the voting situation 24 hours a day for a fair vote.

<img class = "size-medium wp-image-258023 alignright” title=”Bithumb launches the voting platform to screen new cryptocurrencies” src=”https://news.bitcoin.com/wp-content/uploads/2018/12/vote-300×248.png” alt=”Bithumb launches Voting Platform to Screen New Cryptocurrencies "width =" 300 "height =" 248 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/12/vote-300×248.png 300w, https : //news.bitcoin.com/wp-content/uploads/2018/12/vote.png 302w "sizes =" (maximum width: 300px) 100vw, 300px”/>In the event of an unfair vote, the cryptocurrency project identified with fraudulent activity will be immediately excluded from the voting round, the details of the notice.

In addition, activities designed to manipulate votes may result in permanent suspension of user accounts. They include impersonating others to vote, buy votes, sell votes and motivate or recommend others to vote for a project.

The Pickthumb 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 the Bithumb voting platform? Let us know in the comments section below.

Images courtesy of Shutterstock, Pickthumb and Bithumb.

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