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One of the largest exchanges of Crypto Currency, Bitfinex has launched a tool that will allow its users to participate in Voting for the blockchain manufacturers in the EOS system.
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As stated in the official announcement , Bitfinex Ballot is an open source tool that will allow exchange users to use their EOS coins located on the “Funding” / “Exchange” / “Margin” purses, as well as the EOS used in EosXXX marginal long positions, to vote for the producers of blockchain. Bitfinex reports that any stock exchange that wants to demonstrate its transparency can integrate the submitted code.
We've enabled voting for EOS Block Producers. https://t.co/9bieaikvSm pic.twitter.com/5YT4qlXJpS
— Bitfinex (@bitfinex) June 18, 2018
20% of the EOS that are in Bitfinex reserves will not be used for voting, as they will remain on cold wallets, which should allow users to withdraw the crypto currency at any time. EOS, which are in short positions, will be deducted from the total amount of coins used for voting, since they can not be used for these purposes by the rules.
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Thus, 1 EOS will be equivalent to 0.8 votes provided there are no short and long positions. This value will change depending on the change in the number of positions. Bitfinex claims that it is the only exchange that allows using the crypto currency, which is in marginal long positions, for voting.
Prior to that, users whose coins were on the exchanges could not take part in voting for the producers of the blocks, a process that is of fundamental importance for the future of the EOS system. At the same time, many of them could leave crypto currency on the stock exchanges in order to avoid risks associated with the process of its self-registration.
By the time the material was prepared, users who hold 22% of all EOS tokens expressed their will, according to the official portal . Bitfinex itself is one of the main candidates for the role of blockchain manufacturer in the EOS system.
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