due to the results of a voting system<\/strong> managed by the aforementioned cryptocurrency trading platform.<\/p>\n<\/p>\n
Such system established that, in order to vote for a new coin that will be listed in the exchange, users must deposit its tokens to Fcoin, spending at least 85 gwei per Ether. This way, they ensure that their transactions will be processed, and the currency with more deposits accumulated at the end of the voting period will be listed in the platform.<\/p>\n
To this respect, MyCrypto<\/strong> wrote in a Twitter thread:<\/p>\n\u201cUnsurprisingly, people who are financially incentivized to get a shit-token listed on a shit-exchange are sending these tokens en masse to separate accounts on the blockchain and then to separate accounts on the ‘exchange-who-must-not-be-named’ (\u2026)and thus resulting partially (or entirely?) in the network congestion & high transaction fees that we’ve experienced these past few days.\u201d<\/em><\/p>\nIn the same thread, the company identifies the situation as a Sybil attack:<\/p>\n
\u201cThis exchange apparently has come up with a mind-numbingly despicable voting mechanism that, quite literally, incentivizes Sybil attacks.<\/strong>\u201d<\/em><\/p>\nSince its creation on May, 2018, the crypto-exchange FCoin has been strongly criticized for its business model. Now, with the last bottleneck caused by it, the displeasure among the crypto community is even greater.<\/p>\n","protected":false},"excerpt":{"rendered":"
On the last days, the Ethereum network has been suffering a great congestion that has brought a notable increase in transaction rates (gas) , for its current price is competing with that registered back in January, even though its transaction volume has decreased more than 50%.<\/p>\n","protected":false},"author":3,"featured_media":7060,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,73,74],"tags":[4679],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/7058"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=7058"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/7058\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/7060"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=7058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=7058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=7058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}