One of the most crucial aspects to the success of any cryptocurrency is exchange listings. What is the point of a cryptocurrency that is not being traded anywhere? Altcoins have only a few options for methods of being listed on the different exchanges. Some exchanges require an application and board approval. Other exchanges have high listing fees. KuCoin has started a new campaign that not only gives the exchange token utility value, but encourages the crypto-community to pick the coin they think deserves to be the next coin listed on the KuCoin Exchange.
How the Competition Works
- Voters must be registered users on KuCoin and must have access to their Kucoin username email address in order to vote.
- KuCoin will send an email containing a link to vote once the competition goes live on July 12, 2018 at 18:00 UTC+8. To vote, simply reply by filling in the required fields (KuCoin account, name of coin voted for, reason why that coin should be listed), and KuCoin will do the rest.
- The project that gets the most votes from registered KuCoin users will be deemed the winner. KuCoin will do a diligent quality check to ensure that the winning project is legitimate before listing in order to protect investors.
The Competition Rules:
With a dedicated group of admins and bots to facilitate collecting the individual voting data, participants must follow the rules carefully so as not to miss the opportunity for their vote to be counted.
- Voting for the same project twice is not allowed, though participants can vote for multiple projects. The voting system will not allow voting for the same project twice, and it will discredit your vote.
- Every vote costs half of one KCS token.
- Spell the name of the project correctly. KuCoin’s bots are not smart enough to count a vote if the coin’s name is misspelled.
- Do not use the competition to spam; please remain polite; and listen to the admins in the group. Trolls and offenders will be banished from the competition, and their votes will be revoked.
What Is the Grand Prize?
In addition to getting a free listing on KuCoin, the winner of the competition will also receive a $30,000 advertisement package. On top of that, KuCoin will send the equivalent value of 5 BTC, purchased in the newly added tokens, to be distributed via KuCoin to the users who voted for the winning project.
Popular Candidates for this Round’s Vote to List
Bitcoin Token (BTK)
Bitcoin Token uses peer-to-peer (P2P) technology operating with no central authority or banks. Transactions are carried out collectively by the network. BTK is open source, community driven, and decentralized, and it is also built of a team of developers who are all volunteers.
BTK is working hard for mass-adoption for the use of BTK in everyday life for everyday purchases. BTK is encouraging local businesses and large corporations to begin accepting BTK as a payment method and even as the preferred form of payment. At the core of BTK are the simplistic principles that everyone wants: the ability to easily share and wire money or simply send a gift to friend.
BTK separates itself from other cryptocurrencies as it is easily traded. It uses the P2P platform based on Ethereum and is currently having transaction times of only 24 seconds. There are 8.5 billion tokens in circulation with a cap at 10 billion. While Bitcoin (BTC) has been referred to as the gold standard in cryptocurrency, BTK is a solution for smaller transactions with low fees.
Electra (ECA)
Electra implements the NIST5 Algorithm. With five-minute block times, 288 blocks created per day, and a max supply of thirty billion ECA tokens, ECA would be a great addition to the KuCoin exchange. ECA promises security, fast transaction speeds, and many incentives, while maintaining efficiency.
Due to the outdated designs of traditional transaction protocols, organizations and individuals are currently losing precious time when paying or transferring funds using archaic methods. ECA has extremely fast transaction times, taking only up to a few seconds to complete a payment or transfer funds. As security is important in any business, companies and individuals can confidentially transact by using the Electra NIST5 blockchain. ECA is ensuring funds are protected from malicious hacks.
ECA does not stop there, as there are huge incentives tied to the ECA blockchain. Electra is a Proof-Of-Work (PoW) and Proof-Of-Stake (PoS) cryptocurrency. Through the PoS method, users can be rewarded and increase their investments by 50 percent (ten percent after the ECA fork) yearly until the total circulating supply of tokens finally hits the maximum supply. ECA also has high staking reward opportunities for earning income, as the value of ECA is protected by the total supply limit. This limitation ensures the future value of ECA will steadily increase through mass-adoption, through the process of eliminating inflation.
Finally, and most significantly, Electra is the leading blockchain using the NIST5 Algorithm. The NIST5 hashing algorithm was designed to provide a better combination of power, efficiency, and security, improving on many of the existing algorithms which often require excessive amounts of energy to maintain. NIST5 was one of the five final round candidates for the National Institute of Science and Technology’s SHA-3 hash competition, due to its level of security and high performance.
Zclassic (ZCL)
Zclassic is a fork of Zcash (a cryptocurrency run by Zero Coin, Inc.). In order to fund operations at Zcash, a 20 percent mining “Founder’s Reward” is included in Zcash. In every block, in order to maintain consensus, the miners running the Zcash code end up sending 20 percent of their newly mined rewards to an address controlled by Zero Coin Inc. As the Zcash source code is open source, Zclassic has simply removed that 20 percent Founder’s Reward.
This has given people the option and opportunity to mine a blockchain using the same technology of Zcash, but without having to pay that nasty Founder’s Reward. The vision behind Zclassic from inception is to stay similar to Zcash from a technology perspective, but to never take any pre-mine or founder’s reward of any type that would go to a small group of individuals, whether they are admins, appointed, or selected.
ZCL has a strong development team behind the project, as well as a strong community, which recently grew with the addition of the Anonymous Bitcoin (ANON) community. Both ANON and ZCL are supporting each other and working collaboratively to better each other after the upcoming fork. Exchange outreach has begun with many top volume exchanges for both ANON and ZCL to both be listed. While this Vote to List competition does not allow two coins to come as a package, both communities can help list ZCL.
Two well established development teams, Zclassic Blue and Zclassic Community Devs, have submitted proposals to Bitcoin Private (BTCP) to formally take over ZCL’s GitHub and Twitter account. Currently, ZCL’s Twitter and GitHub are held and controlled by BTCP. The ZCL community has been working hard to convince BTCP to relinquish control and allow the two development teams to takeover ZCL.
With two huge and extremely active communities in the crypto-space, listing ZCL would allow traders to transact ZCL on another exchange, and it would also bring aboard the ZCL community as well as the ANON community to KuCoin, a win-win for the KuCoin exchange.
Conclusion
This List to Vote is not about which coin will best benefit KuCoin, but rather about emphasizing that KuCoin values its users’ opinions and is willing to take actions on user suggestions. This Vote to List competition will allow all persons who are registered on KuCoin by July 12, 2018 to participate. Registered users will be able to vote on a coin of their choice to be listed on the KuCoin Exchange.
Some of the most popular candidate coins in the competition’s telegram are currently ECA, BTK, and ZCL. Crypto users are invited to register and vote for their favorite candidate. If you are a part of any of the ECA, BTK, or ZCL (or ANON as well) communities make sure to help support and vote for your coin to be listed.
The official announcement was made publicly on July 12, 2018, when the actual voting begins. It’s time to move quickly to participate in this Vote to List competition. To learn more about previous KuCoin Vote to List competitions and winning listings, check out KuCoin’s Twitter: @kucoincom and their telegram.
Full disclosure, the author has holdings in KuCoins (KCS) at time of press.
The post KuCoin’s Vote to List Competition appeared first on BTCMANAGER.
Source and More information: KuCoin’s Vote to List Competition
Author: BTCManager.com
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