VideoCoin (VID) Up For Consideration on Bitfinex Exchange
Today, we are excited to share with you the VideoCoin Network has been invited to participate in the formal voting process to have the VID token listed on both the Bitfinex and Ethfinex exchanges, as a leading example of blockchain technology that solves a real business or societal need.
What are Bitfinex and Ethfinex?
Bitfinex sits in the top 5 exchanges by trading volume and is one of the most advanced cryptocurrency platforms trusted by millions of traders worldwide. Based in Hong Kong, the exchange first entered the market in 2012, and has enjoyed steady expansion ever since.
Ethfinex was built as an exchange and communications hub for the Ethereum community. Through Ethfinex, enthusiasts, developers, and traders can discuss, share, and crowdsource information from across the cryptocurrency ecosystem. As Ethfinex operates as a hybrid decentralised exchange, users have access to a high volume of trades and a high level of liquidity, with bid/ask and order counts resolved in real time. This gives members more flexibility with choosing when to place an order compared to other decentralised exchanges. The two platforms share order books and represent the first true hybrid exchange.
How are the two connected?
Ethfinex is a hybrid decentralized exchange that capitalizes on Bitfinex’s trading engine and customer experience expertise to deliver the most advanced trading platform available for Ethereum-based tokens and crowdsales, also known as ERC20 tokens. The exchange caters to more intermediate and advanced traders and shares similar objectives with its sister site, Bitfinex, offering users more options to trade.
As Ethfinex is a community-driven platform, with a new governance model, the listing decisions are subject to customer consensus and user review to help determine the token’s value to the overall community, as opposed to tokens that pay the highest fee to get listed. Bitfinex is experimenting with this community approach to disrupt the “highest bidder” model that has been cryptocurrency industry practice, often resulting in biased listings.
As such, VideoCoin is now one of 14 projects in the latest round of community voting. With enough votes and positive community feedback, VideoCoin has the opportunity to be approved on both the Bitfinex and Ethfinix platforms on or before September 30, 2018.
Why vote for VideoCoin?
Video is responsible for over 80 percent of all internet traffic, yet operation and innovation in the video space is limited by crippling obstacles. Challenges of the current internet video infrastructure include regulations, privacy, centralization, and spiraling costs.
That’s why we are building the VideoCoin Network — a decentralized video encoding, storage, and content distribution system that turns all cloud-based video services into an efficient algorithmic market running on a new blockchain with a native protocol token, the VideoCoin (VID).
- Lower Costs 50% to 80% by deploying unused compute resources.
- Remove the Middlemen with peer-to-peer video processing, distribution, and storage.
- Increase Security & Reduce Risk through decentralized, end-to-end encryption.
- Enable New Applications by employing open APIs & source-based development.
We invite you to join the VideoCoin conversation on:
- YouTube — https://www.youtube.com/c/videocoin
- Telegram — https://t.me/videocoin
How to Vote
Here is a great video by Ethfinex that illustrates the voting process:
Before voting, please prepare:
- A wallet accessible through Metamask or Ledger
- Ethfinex Voting Token (EVT)
- ETH to fuel your transaction
How to Vote
- Login or sign up to Ethfinex at https://www.ethfinex.com/
2. Deposit ETH or any other listed ERC20 token
3. Convert your ETH or ERC20 token to USD using the Trade feature on Ethfinex
4. Purchase Ethfinex Voting Tokens (EVT) through the EVT/USD pair
- EVT is only paired with USD. If you do not have USD on Ethfinex, you can exchange ETH for USD
5. Once you have your EVT you need to send them to your personal Ethereum wallet
- You need ETH to cover gas fees on Metamask
6. Visit https://nectar.community/#/listings and connect your wallet in the bottom right corner. Refresh the voting page to confirm your token balance is displayed and vote for VideoCoin (VID)
- 1EVT = 1 Vote, and 1,000 EVT = 1,000 Votes!
Link to frequently asked questions https://nectar.community/#/faq
We invite you to join the VideoCoin conversation on:
- YouTube — https://www.youtube.com/c/videocoin
- Telegram — https://t.me/videocoin
**NOTE: Current U.S. residents are prohibited from joining Ethfinex or conducting any actions in the exchange of Nectar Tokens (NEC) in their current marketplace.
