On May 11, the Cocos-BCX MainNet node election and voting is officially launched. The voting entrance is CocosWallet and the official voting website (https://vote.cocosbcx.net/, this method requires Cocospay plug-in wallet).
1. Overview of Cocos-BCX MainNet Node Voting
Cocos-BCX adopts the DPoS consensus mechanism, which maintains the Cocos-BCX network and ecological governance through community voting for 11 active BPs and 11 active councils. It provides computing power, bandwidth, storage support for the Cocos-BCX MainNet, internal proposals, parameter configuration, etc., promoting the healthy development of the Cocos-BCX MainNet ecosystem.
Cocos-BCX MainNet node election voting adheres to the principles of fairness, impartiality, and transparency, and is open to all community members worldwide. Individuals or institutions who hold more than 50 million MainNet COCOS have right to apply; if you do not have enough MainNet COCOS, you can join in node voting to earn revenue.
2. Cocos-BCX Node voting Rules
- Candidate nodes and candidates council can both accept votes;
- COCOS in free circulation has the right to vote in node elections;
- Anyone holding COCOS in free circulation may become a voter to vote for candidate nodes and candidate council. But one COCOS can not vote to candidate nodes and candidate councils simultaneously;
- 50 million COCOS in candidates’ account is considered as their original obtained votes.
- One COCOS can be mortgaged into one vote, and one vote can vote for up to 11 candidate nodes or candidate councils at the same time;
- Voting COCOS will not be consumed, but they will be frozen;
- Users can change their minds and vote for other node candidates and council candidates at any time. They can apply for redemption of collateralized COCOS at any time. It will take 72 hours to arrive after the redemption application.
3. Cocos-BCX Node Election Voting Time
Please note that voting opens at 18:00 on May 11, 2020, and starts to calculate the revenue right now.
4. How to Vote?
4.1) How to Vote on the Voting Website?
Enter CocosTerminal and import the COCOS MainNet account.
After clicking the “vote” button, check the checkbox of nodes you are going to vote on the right side, fill out the number of votes and click “save”.
Firstly, log into the Cocospay wallet plugin. The Cocospay wallet plugin can be downloaded and installed through Google Chrome, Firefox, and 360 browsers. After installation, import the COCOS MainNet account.
Secondly, open the Cocos-BCX voting website(https://vote.cocosbcx.net/) in the browser with the Cocospay wallet plugin. Whenever performing voting operations with any devices always make sure that you are using the right website.
4.2) How to Vote by CocosWallet?
Firstly, download and install CocosWallet
Secondly, register and log in to the COCOS MainNet account.
Follow the COCOS MainNet account requirements to register an account, and save the account password and private key carefully.
When you are going to vote, enter the name of the election node in the search box or check the checkbox on the right side. After clicking the “Selected nodes” button, voters can fill out the number of votes and confirm.
If you have any questions during voting, please join Telegram Official Group and ask admins for assistance. We will help you resolve the problems as soon as we can.
5. Statistics of Votes
Each chain cycle is 24 hours, which starts from 0 UTC. At this time, the votes obtained by all candidates on the chain during the previous cycle will be counted (50 million COCOS in candidates’ account is considered as their original obtained votes and the votes cast by all voters will be added), and sort from highest to lowest. The top 11 will be active BPs or councils on this campaign.
6. Reward Distribution
Blocks generation is distribution. However, it needs to be unlocked linearly within 24 hours, and the active BP should manually execute the corresponding command to receive the rewards.
Currently, 100 COCOS rewards for generating each valid block.
It will be automatically distributed to the MainNet COCOS account after the end of the settlement cycle, which is 24 hours currently.
3,000,000 COCOS will be awarded for each settlement cycle.
If you have any other questions, please feel free to join Cocos-BCX official group and contact admins for help, we will solve your problems as soon as possible.
- Telegram EN：https://t.me/cocosbcxen
- Telegram CN：https://t.me/CocosBCX
- Telegram Vietnam：https://t.me/cocosbcxvietnam
- Telegram Russia: https://t.me/cocosbcxru
- Developer Document：https://cn-dev.cocosbcx.io/
- COCOS Bounty: https://bounty.cocosbcx.io/
- Cocos-BCX Blockchain Explorer：https://explorer.cocosbcx.io/