The cryptocurrency exchange Bithumb is to participate in the EOS election. Bithumb intends to take the lead in developing the blockchain ecosystem by supporting outstanding platforms such as EOS.

On June 25, Bithumb plans to participate in the Block Producer (BP) election using the EOS it owns. The top BP team of EOS contains 21 people and is in charge of operative directions and block production. This team is elected by votes of EOS holders.

BP, as the representative of EOS, makes various pledges. Bithumb plans to support the BP who is able to contribute to the development of the EOS ecosystem by carefully considering their pledges. Particularly, it is examining the delegation of votes using proxies based in Korea in order to increase the influence of Korean BPs.

Korea has approximately 10% share of total published EOS and Bithumb, with the greatest volume of EOS, and is expected to have a significant influence on the ecosystem if it participates in the election. Currently, Bithumb plans to participate in the election using the EOS it owns, and is examining the way in which it will be able to offer such opportunity to Bithumb members that want to participate in the election.

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Bithumb recently has also been expanding its business into the blockchain domain, aside from exchanges. Since the end of last year, it has continued to cooperate with US fintech firms to establish security token exchange platforms and has recently been taking a lead in developing the blockchain industry with various firms such as Codebox, Xangle, China’s SNC, etc.

A Bithumb representative stated, “EOS has a lot of DApps due to its exceptional expandability and has high potentials to develop into a practical platform,” and added, “Bithumb will take the lead in developing the blockchain industry both locally and abroad, and in creating a healthy ecosystem by supporting outstanding platforms such as EOS.”

SOURCE Bithumb