Binance announces the mechanism of community voting for the distinguished code lists

Binance, the world’s largest central stock exchange, has announced a common government structure in society that allows Binance users to vote to narrate or delete distinctive symbols.

According to advertisementBinance will choose the projects that the community can vote on. The symbols that receive the largest number of votes will be included on Binance after the due care from the Central Exchange.

Projects that fail to provide regular updates for progress or necessary symbolic information, or to engage in bad teams, or incomplete teams and societies will be placed in the “monitoring area” of the platform.

Once the projects are in the monitoring area, the Binance community can vote to delete these projects from the platform.

This advertisement follows a huge increase in the amount of symbols and new projects for the encrypted currency, which is now in tens of millions.

Related to: Binance to the MICA compatible in Europe on March 31

Many symbols cause the main insertion procedures to review

Coinmarketcap appeared Less than 11 million encrypted currencies On February 8. At the time of writing this report, the number of unique digital assets listed on the site has swollen to 12.4 million.

Some market analysts believe that the rapid increase in the new distinguished code lists compete on the limited capital and interest in the investor has a reduced impact on encryption prices and can be even Prevention of Altcoin season During this market cycle.

CEO Coinbase Brian Armstrong said Coinbase should rethink the process of the distinctive symbol listOn January 24 x mail. Armstrong Books:

“We need to rethink our list of our list in Coinbase due to its existence [roughly] A million symbols per week are created now, and a high-quality problem grows for its existence-but each one evaluates one after the other is no longer possible. “

The CEO continued: “The organizers need to understand that applying for approval for each one is not completely possible at this stage as well.”

Armstrong ultimately concluded that the stock exchange needed to switch to the “allowance list” and the “block list” structure that partially depends on community reviews and Onchain data to submit decisions on new projects that must be included in the US -based Central Stock Exchange.

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