Blockchain Voting On Social Media Exposes TokenPay For Cheating During Semi-Finals
Social Media Vote Exposes Cheating By TokenPay During Semi-Finals
Social media is a great platform to learn more about what consumers in every industry want to see. Recently, there was a vote on Twitter using the hashtag #altcoinblitz, which was an effort to see how the different coin communities are performing and how strong they can be. Eventually, the two contenders seemed to be Electroneum (ETN) and TokenPay (TPAY).
The followers of ETN had a strong stance in the competition, even though it has had a lot of problems with maintaining its price lately. TokenPay is the result of a collaboration between Verge (XVG) and Litecoin (LTC), so it did not surprise anyone online when they started to pull ahead. Unfortunately, as the semi-finals unraveled, it was revealed that TokenPay had been involved with some tampering, using fake votes to push up their numbers. Even though they tried to give the “votes” to Electroneum, which still left them disqualified.
Right now, Electroneum is competing against the Linda project. In a post from Chris Wallace, aka @cryptobullwhale, he said:
“FINALS: #Electroneum V. #Linda. For the gold medal, you have two amazing coins. One has blown every opponent out of the water. The other has clawed back from ties multiple times after putting on last-minute rallying calls! Let's go!” Presently, Electroneum is in the lead with 81%.
Each of these players in the industry has something to offer. LINDA is highly volatile, but its coin is priced at $0.001. It holds many “pump and dump” events, but the following is loyal. Electroneum focuses on mining with mobile phone applications. Unfortunately, the low volume was enough to bring the price from $0.20 to $0.007. They have even put their investors through a weeks-long freeze on mining, after a bug in the wallet technology. However, with the option to mine through a phone, the company has maintained a lot of interest.
The competition was developed and hosted by Chris Wallace, and it discovered something interesting about the votes. Bigger names, like Bitcoin and other popular names, had very little participation, seeming like users thought that they did not need to vote to show their loyalty. However, the communities of Linda and they took their support straight to Twitter to vote.
On August 17th at 4:17pm PST, Wallace announced the winner. He said,
“Congratulations to #Electroneum for winning the first ever #altcoinblitz. The community truly united together to absolutely dominate this competition. It truly was impressive.” Not to leave Linda unnoticed, he added in a separate Tweet over an hour later, which said, “And congrats to #Linda for winning silver in the #altcoinblitz competition. For a relatively small coin, this is a huge accomplishment. I can't wait to see what this powerful community manages to do next!”
Altcoins are becoming increasingly attractive to investors who want to contribute something smaller to the cryptocurrency industry. However, before anyone invests in these options, they should see if the price is just as easily influenced.