BitShares is a decentralized stock exchange and Fintech platform. BitShares is designed to be fast, efficient and scalable to handle the tens of thousands of transactions per second associated with distributed exchange. To understand the values traded on the BitShares distributed exchange, you need to understand the stable values called smartcoin and the digitized values called user-issued assets. After all, BitShares is designed to finance itself and employ its own staff.
Fast, efficient and scalable
The blockchain analyzed in the context of the Decentralized Autonomous Company (DAC) metaphor illustrates the importance of reducing transaction costs, increasing transaction speed and making the system scalable in order to work with existing to be able to compete with financial institutions.
BitShares was developed with these constraints in mind and eliminates the Proof of Work (PoW) security in Bitcoin for Delegated Proof of Stake (DPoS), which is cheaper and more efficient. This enables BitShares to deliver near instant transactions with extremely low fees and an infrastructure that adapts to the size of Visa/PayPal and beyond.
Decentralized Exchange
At present, crypto currencies like Bitcoin are traded on major exchanges that follow the traditional logic of centralization, with a single point of failure for corruption, information theft, coercion, robbery, fraud and so on, and that is exactly what we have seen in the crypto currency area and in Bitcoin exchanges.
The solution is no further away than using the technology behind Bitcoin, the blockchain, to create decentralised exchanges. BitShares was partly developed with this in mind, so emphasis was placed on speed, efficiency and scalability. The New York Stock Exchange and Wall Street will soon face disruptive competition from projects such as BitShares.
Smartcoins and Custom Assets
With BitShares it is possible to trade many different types of assets in addition to the native cryptocoin. In particular, there are so-called Smartcoins and User-Issued Assets.
Smartcoins are coins such as bitUSD, bitGOLD and bitCNY, which track the value of their counterparts, so that 1 bitUSD today is worth 1 USD per week, month or year. With Smartcoins, people can take advantage of the blockchain payment network without being exposed to the volatility that comes with the disruptive but emerging development stage.
As the name implies, user-issued assets are assets issued by the user, i.e. anyone can issue their own asset. The issuer of the asset can set different levels of control he has over the asset, including the fact that he has no control at all. Assets can be used for an amazing variety of things, including performing crowd funds with equity, using them for property rights, or even as VIP tickets or simply as fan tokens.
Self-financed development
Organic, self-financed, digital growth is now possible. The technology underlying BitShares allows shareholders to vote for three different types of employees: 1) Witnesses 2) Delegates and 3) Workers. The witnesses are paid to process transactions and secure the network. The delegates are not paid, but are in an honorary position of trust to propose updates for the BitShares network. Finally, the workers can propose any project and if elected, they can be paid to work on their project.
This system makes BitShares the first blockchain capable of hiring its own staff fully decentralized, with every person who owns BitShares tokens having a say.
Conclusion
BitShares enables an open, scalable, distributed exchange and fintech platform with smartcoins, a novel financial instrument. It organises itself and finances its own work and development, making it the first DAC (or "DAO") to reach the free market. What does the future hold for BitShares? With the creation of Steem (this platform!), we can be optimistic that BitShares will return to its rightful prominent place in the crypto economy.
Trade BTS - BTS Markets, Exchanges, Broker
BitShares is a decentralized stock exchange and Fintech platform. BitShares is designed to be fast, efficient and scalable to handle the tens of thousands of transactions per second associated with distributed exchange. To understand the values traded on the BitShares distributed exchange, you need to understand the stable values called smartcoin and the digitized values called user-issued assets. After all, BitShares is designed to finance itself and employ its own staff.
Fast, efficient and scalable
The blockchain analyzed in the context of the Decentralized Autonomous Company (DAC) metaphor illustrates the importance of reducing transaction costs, increasing transaction speed and making the system scalable in order to work with existing to be able to compete with financial institutions.
BitShares was developed with these constraints in mind and eliminates the Proof of Work (PoW) security in Bitcoin for Delegated Proof of Stake (DPoS), which is cheaper and more efficient. This enables BitShares to deliver near instant transactions with extremely low fees and an infrastructure that adapts to the size of Visa/PayPal and beyond.
Decentralized Exchange
At present, crypto currencies like Bitcoin are traded on major exchanges that follow the traditional logic of centralization, with a single point of failure for corruption, information theft, coercion, robbery, fraud and so on, and that is exactly what we have seen in the crypto currency area and in Bitcoin exchanges.
The solution is no further away than using the technology behind Bitcoin, the blockchain, to create decentralised exchanges. BitShares was partly developed with this in mind, so emphasis was placed on speed, efficiency and scalability. The New York Stock Exchange and Wall Street will soon face disruptive competition from projects such as BitShares.
Smartcoins and Custom Assets
With BitShares it is possible to trade many different types of assets in addition to the native cryptocoin. In particular, there are so-called Smartcoins and User-Issued Assets.
Smartcoins are coins such as bitUSD, bitGOLD and bitCNY, which track the value of their counterparts, so that 1 bitUSD today is worth 1 USD per week, month or year. With Smartcoins, people can take advantage of the blockchain payment network without being exposed to the volatility that comes with the disruptive but emerging development stage.
As the name implies, user-issued assets are assets issued by the user, i.e. anyone can issue their own asset. The issuer of the asset can set different levels of control he has over the asset, including the fact that he has no control at all. Assets can be used for an amazing variety of things, including performing crowd funds with equity, using them for property rights, or even as VIP tickets or simply as fan tokens.
Self-financed development
Organic, self-financed, digital growth is now possible. The technology underlying BitShares allows shareholders to vote for three different types of employees: 1) Witnesses 2) Delegates and 3) Workers. The witnesses are paid to process transactions and secure the network. The delegates are not paid, but are in an honorary position of trust to propose updates for the BitShares network. Finally, the workers can propose any project and if elected, they can be paid to work on their project.
This system makes BitShares the first blockchain capable of hiring its own staff fully decentralized, with every person who owns BitShares tokens having a say.
Conclusion
BitShares enables an open, scalable, distributed exchange and fintech platform with smartcoins, a novel financial instrument. It organises itself and finances its own work and development, making it the first DAC (or "DAO") to reach the free market. What does the future hold for BitShares? With the creation of Steem (this platform!), we can be optimistic that BitShares will return to its rightful prominent place in the crypto economy.
Trade BTS - BTS Markets, Exchanges, Broker
BitShares is a decentralized stock exchange and Fintech platform. BitShares is designed to be fast, efficient and scalable to handle the tens of thousands of transactions per second associated with distributed exchange. To understand the values traded on the BitShares distributed exchange, you need to understand the stable values called smartcoin and the digitized values called user-issued assets. After all, BitShares is designed to finance itself and employ its own staff.
Fast, efficient and scalable
The blockchain analyzed in the context of the Decentralized Autonomous Company (DAC) metaphor illustrates the importance of reducing transaction costs, increasing transaction speed and making the system scalable in order to work with existing to be able to compete with financial institutions.
BitShares was developed with these constraints in mind and eliminates the Proof of Work (PoW) security in Bitcoin for Delegated Proof of Stake (DPoS), which is cheaper and more efficient. This enables BitShares to deliver near instant transactions with extremely low fees and an infrastructure that adapts to the size of Visa/PayPal and beyond.
Decentralized Exchange
At present, crypto currencies like Bitcoin are traded on major exchanges that follow the traditional logic of centralization, with a single point of failure for corruption, information theft, coercion, robbery, fraud and so on, and that is exactly what we have seen in the crypto currency area and in Bitcoin exchanges.
The solution is no further away than using the technology behind Bitcoin, the blockchain, to create decentralised exchanges. BitShares was partly developed with this in mind, so emphasis was placed on speed, efficiency and scalability. The New York Stock Exchange and Wall Street will soon face disruptive competition from projects such as BitShares.
Smartcoins and Custom Assets
With BitShares it is possible to trade many different types of assets in addition to the native cryptocoin. In particular, there are so-called Smartcoins and User-Issued Assets.
Smartcoins are coins such as bitUSD, bitGOLD and bitCNY, which track the value of their counterparts, so that 1 bitUSD today is worth 1 USD per week, month or year. With Smartcoins, people can take advantage of the blockchain payment network without being exposed to the volatility that comes with the disruptive but emerging development stage.
As the name implies, user-issued assets are assets issued by the user, i.e. anyone can issue their own asset. The issuer of the asset can set different levels of control he has over the asset, including the fact that he has no control at all. Assets can be used for an amazing variety of things, including performing crowd funds with equity, using them for property rights, or even as VIP tickets or simply as fan tokens.
Self-financed development
Organic, self-financed, digital growth is now possible. The technology underlying BitShares allows shareholders to vote for three different types of employees: 1) Witnesses 2) Delegates and 3) Workers. The witnesses are paid to process transactions and secure the network. The delegates are not paid, but are in an honorary position of trust to propose updates for the BitShares network. Finally, the workers can propose any project and if elected, they can be paid to work on their project.
This system makes BitShares the first blockchain capable of hiring its own staff fully decentralized, with every person who owns BitShares tokens having a say.
Conclusion
BitShares enables an open, scalable, distributed exchange and fintech platform with smartcoins, a novel financial instrument. It organises itself and finances its own work and development, making it the first DAC (or "DAO") to reach the free market. What does the future hold for BitShares? With the creation of Steem (this platform!), we can be optimistic that BitShares will return to its rightful prominent place in the crypto economy.
Trade BTS - BTS Markets, Exchanges, Broker
BitShares is a decentralized stock exchange and Fintech platform. BitShares is designed to be fast, efficient and scalable to handle the tens of thousands of transactions per second associated with distributed exchange. To understand the values traded on the BitShares distributed exchange, you need to understand the stable values called smartcoin and the digitized values called user-issued assets. After all, BitShares is designed to finance itself and employ its own staff.
Fast, efficient and scalable
The blockchain analyzed in the context of the Decentralized Autonomous Company (DAC) metaphor illustrates the importance of reducing transaction costs, increasing transaction speed and making the system scalable in order to work with existing to be able to compete with financial institutions.
BitShares was developed with these constraints in mind and eliminates the Proof of Work (PoW) security in Bitcoin for Delegated Proof of Stake (DPoS), which is cheaper and more efficient. This enables BitShares to deliver near instant transactions with extremely low fees and an infrastructure that adapts to the size of Visa/PayPal and beyond.
Decentralized Exchange
At present, crypto currencies like Bitcoin are traded on major exchanges that follow the traditional logic of centralization, with a single point of failure for corruption, information theft, coercion, robbery, fraud and so on, and that is exactly what we have seen in the crypto currency area and in Bitcoin exchanges.
The solution is no further away than using the technology behind Bitcoin, the blockchain, to create decentralised exchanges. BitShares was partly developed with this in mind, so emphasis was placed on speed, efficiency and scalability. The New York Stock Exchange and Wall Street will soon face disruptive competition from projects such as BitShares.
Smartcoins and Custom Assets
With BitShares it is possible to trade many different types of assets in addition to the native cryptocoin. In particular, there are so-called Smartcoins and User-Issued Assets.
Smartcoins are coins such as bitUSD, bitGOLD and bitCNY, which track the value of their counterparts, so that 1 bitUSD today is worth 1 USD per week, month or year. With Smartcoins, people can take advantage of the blockchain payment network without being exposed to the volatility that comes with the disruptive but emerging development stage.
As the name implies, user-issued assets are assets issued by the user, i.e. anyone can issue their own asset. The issuer of the asset can set different levels of control he has over the asset, including the fact that he has no control at all. Assets can be used for an amazing variety of things, including performing crowd funds with equity, using them for property rights, or even as VIP tickets or simply as fan tokens.
Self-financed development
Organic, self-financed, digital growth is now possible. The technology underlying BitShares allows shareholders to vote for three different types of employees: 1) Witnesses 2) Delegates and 3) Workers. The witnesses are paid to process transactions and secure the network. The delegates are not paid, but are in an honorary position of trust to propose updates for the BitShares network. Finally, the workers can propose any project and if elected, they can be paid to work on their project.
This system makes BitShares the first blockchain capable of hiring its own staff fully decentralized, with every person who owns BitShares tokens having a say.
Conclusion
BitShares enables an open, scalable, distributed exchange and fintech platform with smartcoins, a novel financial instrument. It organises itself and finances its own work and development, making it the first DAC (or "DAO") to reach the free market. What does the future hold for BitShares? With the creation of Steem (this platform!), we can be optimistic that BitShares will return to its rightful prominent place in the crypto economy.
Trade BTS - BTS Markets, Exchanges, Broker
BitShares is a decentralized stock exchange and Fintech platform. BitShares is designed to be fast, efficient and scalable to handle the tens of thousands of transactions per second associated with distributed exchange. To understand the values traded on the BitShares distributed exchange, you need to understand the stable values called smartcoin and the digitized values called user-issued assets. After all, BitShares is designed to finance itself and employ its own staff.
Fast, efficient and scalable
The blockchain analyzed in the context of the Decentralized Autonomous Company (DAC) metaphor illustrates the importance of reducing transaction costs, increasing transaction speed and making the system scalable in order to work with existing to be able to compete with financial institutions.
BitShares was developed with these constraints in mind and eliminates the Proof of Work (PoW) security in Bitcoin for Delegated Proof of Stake (DPoS), which is cheaper and more efficient. This enables BitShares to deliver near instant transactions with extremely low fees and an infrastructure that adapts to the size of Visa/PayPal and beyond.
Decentralized Exchange
At present, crypto currencies like Bitcoin are traded on major exchanges that follow the traditional logic of centralization, with a single point of failure for corruption, information theft, coercion, robbery, fraud and so on, and that is exactly what we have seen in the crypto currency area and in Bitcoin exchanges.
The solution is no further away than using the technology behind Bitcoin, the blockchain, to create decentralised exchanges. BitShares was partly developed with this in mind, so emphasis was placed on speed, efficiency and scalability. The New York Stock Exchange and Wall Street will soon face disruptive competition from projects such as BitShares.
Smartcoins and Custom Assets
With BitShares it is possible to trade many different types of assets in addition to the native cryptocoin. In particular, there are so-called Smartcoins and User-Issued Assets.
Smartcoins are coins such as bitUSD, bitGOLD and bitCNY, which track the value of their counterparts, so that 1 bitUSD today is worth 1 USD per week, month or year. With Smartcoins, people can take advantage of the blockchain payment network without being exposed to the volatility that comes with the disruptive but emerging development stage.
As the name implies, user-issued assets are assets issued by the user, i.e. anyone can issue their own asset. The issuer of the asset can set different levels of control he has over the asset, including the fact that he has no control at all. Assets can be used for an amazing variety of things, including performing crowd funds with equity, using them for property rights, or even as VIP tickets or simply as fan tokens.
Self-financed development
Organic, self-financed, digital growth is now possible. The technology underlying BitShares allows shareholders to vote for three different types of employees: 1) Witnesses 2) Delegates and 3) Workers. The witnesses are paid to process transactions and secure the network. The delegates are not paid, but are in an honorary position of trust to propose updates for the BitShares network. Finally, the workers can propose any project and if elected, they can be paid to work on their project.
This system makes BitShares the first blockchain capable of hiring its own staff fully decentralized, with every person who owns BitShares tokens having a say.
Conclusion
BitShares enables an open, scalable, distributed exchange and fintech platform with smartcoins, a novel financial instrument. It organises itself and finances its own work and development, making it the first DAC (or "DAO") to reach the free market. What does the future hold for BitShares? With the creation of Steem (this platform!), we can be optimistic that BitShares will return to its rightful prominent place in the crypto economy.
Trade BTS - BTS Markets, Exchanges, Broker
BitShares is a decentralized stock exchange and Fintech platform. BitShares is designed to be fast, efficient and scalable to handle the tens of thousands of transactions per second associated with distributed exchange. To understand the values traded on the BitShares distributed exchange, you need to understand the stable values called smartcoin and the digitized values called user-issued assets. After all, BitShares is designed to finance itself and employ its own staff.
Fast, efficient and scalable
The blockchain analyzed in the context of the Decentralized Autonomous Company (DAC) metaphor illustrates the importance of reducing transaction costs, increasing transaction speed and making the system scalable in order to work with existing to be able to compete with financial institutions.
BitShares was developed with these constraints in mind and eliminates the Proof of Work (PoW) security in Bitcoin for Delegated Proof of Stake (DPoS), which is cheaper and more efficient. This enables BitShares to deliver near instant transactions with extremely low fees and an infrastructure that adapts to the size of Visa/PayPal and beyond.
Decentralized Exchange
At present, crypto currencies like Bitcoin are traded on major exchanges that follow the traditional logic of centralization, with a single point of failure for corruption, information theft, coercion, robbery, fraud and so on, and that is exactly what we have seen in the crypto currency area and in Bitcoin exchanges.
The solution is no further away than using the technology behind Bitcoin, the blockchain, to create decentralised exchanges. BitShares was partly developed with this in mind, so emphasis was placed on speed, efficiency and scalability. The New York Stock Exchange and Wall Street will soon face disruptive competition from projects such as BitShares.
Smartcoins and Custom Assets
With BitShares it is possible to trade many different types of assets in addition to the native cryptocoin. In particular, there are so-called Smartcoins and User-Issued Assets.
Smartcoins are coins such as bitUSD, bitGOLD and bitCNY, which track the value of their counterparts, so that 1 bitUSD today is worth 1 USD per week, month or year. With Smartcoins, people can take advantage of the blockchain payment network without being exposed to the volatility that comes with the disruptive but emerging development stage.
As the name implies, user-issued assets are assets issued by the user, i.e. anyone can issue their own asset. The issuer of the asset can set different levels of control he has over the asset, including the fact that he has no control at all. Assets can be used for an amazing variety of things, including performing crowd funds with equity, using them for property rights, or even as VIP tickets or simply as fan tokens.
Self-financed development
Organic, self-financed, digital growth is now possible. The technology underlying BitShares allows shareholders to vote for three different types of employees: 1) Witnesses 2) Delegates and 3) Workers. The witnesses are paid to process transactions and secure the network. The delegates are not paid, but are in an honorary position of trust to propose updates for the BitShares network. Finally, the workers can propose any project and if elected, they can be paid to work on their project.
This system makes BitShares the first blockchain capable of hiring its own staff fully decentralized, with every person who owns BitShares tokens having a say.
Conclusion
BitShares enables an open, scalable, distributed exchange and fintech platform with smartcoins, a novel financial instrument. It organises itself and finances its own work and development, making it the first DAC (or "DAO") to reach the free market. What does the future hold for BitShares? With the creation of Steem (this platform!), we can be optimistic that BitShares will return to its rightful prominent place in the crypto economy.
Trade BTS - BTS Markets, Exchanges, Broker
BitShares is a decentralized stock exchange and Fintech platform. BitShares is designed to be fast, efficient and scalable to handle the tens of thousands of transactions per second associated with distributed exchange. To understand the values traded on the BitShares distributed exchange, you need to understand the stable values called smartcoin and the digitized values called user-issued assets. After all, BitShares is designed to finance itself and employ its own staff.
Fast, efficient and scalable
The blockchain analyzed in the context of the Decentralized Autonomous Company (DAC) metaphor illustrates the importance of reducing transaction costs, increasing transaction speed and making the system scalable in order to work with existing to be able to compete with financial institutions.
BitShares was developed with these constraints in mind and eliminates the Proof of Work (PoW) security in Bitcoin for Delegated Proof of Stake (DPoS), which is cheaper and more efficient. This enables BitShares to deliver near instant transactions with extremely low fees and an infrastructure that adapts to the size of Visa/PayPal and beyond.
Decentralized Exchange
At present, crypto currencies like Bitcoin are traded on major exchanges that follow the traditional logic of centralization, with a single point of failure for corruption, information theft, coercion, robbery, fraud and so on, and that is exactly what we have seen in the crypto currency area and in Bitcoin exchanges.
The solution is no further away than using the technology behind Bitcoin, the blockchain, to create decentralised exchanges. BitShares was partly developed with this in mind, so emphasis was placed on speed, efficiency and scalability. The New York Stock Exchange and Wall Street will soon face disruptive competition from projects such as BitShares.
Smartcoins and Custom Assets
With BitShares it is possible to trade many different types of assets in addition to the native cryptocoin. In particular, there are so-called Smartcoins and User-Issued Assets.
Smartcoins are coins such as bitUSD, bitGOLD and bitCNY, which track the value of their counterparts, so that 1 bitUSD today is worth 1 USD per week, month or year. With Smartcoins, people can take advantage of the blockchain payment network without being exposed to the volatility that comes with the disruptive but emerging development stage.
As the name implies, user-issued assets are assets issued by the user, i.e. anyone can issue their own asset. The issuer of the asset can set different levels of control he has over the asset, including the fact that he has no control at all. Assets can be used for an amazing variety of things, including performing crowd funds with equity, using them for property rights, or even as VIP tickets or simply as fan tokens.
Self-financed development
Organic, self-financed, digital growth is now possible. The technology underlying BitShares allows shareholders to vote for three different types of employees: 1) Witnesses 2) Delegates and 3) Workers. The witnesses are paid to process transactions and secure the network. The delegates are not paid, but are in an honorary position of trust to propose updates for the BitShares network. Finally, the workers can propose any project and if elected, they can be paid to work on their project.
This system makes BitShares the first blockchain capable of hiring its own staff fully decentralized, with every person who owns BitShares tokens having a say.
Conclusion
BitShares enables an open, scalable, distributed exchange and fintech platform with smartcoins, a novel financial instrument. It organises itself and finances its own work and development, making it the first DAC (or "DAO") to reach the free market. What does the future hold for BitShares? With the creation of Steem (this platform!), we can be optimistic that BitShares will return to its rightful prominent place in the crypto economy.
Trade BTS - BTS Markets, Exchanges, Broker
BitShares is a decentralized stock exchange and Fintech platform. BitShares is designed to be fast, efficient and scalable to handle the tens of thousands of transactions per second associated with distributed exchange. To understand the values traded on the BitShares distributed exchange, you need to understand the stable values called smartcoin and the digitized values called user-issued assets. After all, BitShares is designed to finance itself and employ its own staff.
Fast, efficient and scalable
The blockchain analyzed in the context of the Decentralized Autonomous Company (DAC) metaphor illustrates the importance of reducing transaction costs, increasing transaction speed and making the system scalable in order to work with existing to be able to compete with financial institutions.
BitShares was developed with these constraints in mind and eliminates the Proof of Work (PoW) security in Bitcoin for Delegated Proof of Stake (DPoS), which is cheaper and more efficient. This enables BitShares to deliver near instant transactions with extremely low fees and an infrastructure that adapts to the size of Visa/PayPal and beyond.
Decentralized Exchange
At present, crypto currencies like Bitcoin are traded on major exchanges that follow the traditional logic of centralization, with a single point of failure for corruption, information theft, coercion, robbery, fraud and so on, and that is exactly what we have seen in the crypto currency area and in Bitcoin exchanges.
The solution is no further away than using the technology behind Bitcoin, the blockchain, to create decentralised exchanges. BitShares was partly developed with this in mind, so emphasis was placed on speed, efficiency and scalability. The New York Stock Exchange and Wall Street will soon face disruptive competition from projects such as BitShares.
Smartcoins and Custom Assets
With BitShares it is possible to trade many different types of assets in addition to the native cryptocoin. In particular, there are so-called Smartcoins and User-Issued Assets.
Smartcoins are coins such as bitUSD, bitGOLD and bitCNY, which track the value of their counterparts, so that 1 bitUSD today is worth 1 USD per week, month or year. With Smartcoins, people can take advantage of the blockchain payment network without being exposed to the volatility that comes with the disruptive but emerging development stage.
As the name implies, user-issued assets are assets issued by the user, i.e. anyone can issue their own asset. The issuer of the asset can set different levels of control he has over the asset, including the fact that he has no control at all. Assets can be used for an amazing variety of things, including performing crowd funds with equity, using them for property rights, or even as VIP tickets or simply as fan tokens.
Self-financed development
Organic, self-financed, digital growth is now possible. The technology underlying BitShares allows shareholders to vote for three different types of employees: 1) Witnesses 2) Delegates and 3) Workers. The witnesses are paid to process transactions and secure the network. The delegates are not paid, but are in an honorary position of trust to propose updates for the BitShares network. Finally, the workers can propose any project and if elected, they can be paid to work on their project.
This system makes BitShares the first blockchain capable of hiring its own staff fully decentralized, with every person who owns BitShares tokens having a say.
Conclusion
BitShares enables an open, scalable, distributed exchange and fintech platform with smartcoins, a novel financial instrument. It organises itself and finances its own work and development, making it the first DAC (or "DAO") to reach the free market. What does the future hold for BitShares? With the creation of Steem (this platform!), we can be optimistic that BitShares will return to its rightful prominent place in the crypto economy.
Trade BTS - BTS Markets, Exchanges, Broker
BitShares is a decentralized stock exchange and Fintech platform. BitShares is designed to be fast, efficient and scalable to handle the tens of thousands of transactions per second associated with distributed exchange. To understand the values traded on the BitShares distributed exchange, you need to understand the stable values called smartcoin and the digitized values called user-issued assets. After all, BitShares is designed to finance itself and employ its own staff.
Fast, efficient and scalable
The blockchain analyzed in the context of the Decentralized Autonomous Company (DAC) metaphor illustrates the importance of reducing transaction costs, increasing transaction speed and making the system scalable in order to work with existing to be able to compete with financial institutions.
BitShares was developed with these constraints in mind and eliminates the Proof of Work (PoW) security in Bitcoin for Delegated Proof of Stake (DPoS), which is cheaper and more efficient. This enables BitShares to deliver near instant transactions with extremely low fees and an infrastructure that adapts to the size of Visa/PayPal and beyond.
Decentralized Exchange
At present, crypto currencies like Bitcoin are traded on major exchanges that follow the traditional logic of centralization, with a single point of failure for corruption, information theft, coercion, robbery, fraud and so on, and that is exactly what we have seen in the crypto currency area and in Bitcoin exchanges.
The solution is no further away than using the technology behind Bitcoin, the blockchain, to create decentralised exchanges. BitShares was partly developed with this in mind, so emphasis was placed on speed, efficiency and scalability. The New York Stock Exchange and Wall Street will soon face disruptive competition from projects such as BitShares.
Smartcoins and Custom Assets
With BitShares it is possible to trade many different types of assets in addition to the native cryptocoin. In particular, there are so-called Smartcoins and User-Issued Assets.
Smartcoins are coins such as bitUSD, bitGOLD and bitCNY, which track the value of their counterparts, so that 1 bitUSD today is worth 1 USD per week, month or year. With Smartcoins, people can take advantage of the blockchain payment network without being exposed to the volatility that comes with the disruptive but emerging development stage.
As the name implies, user-issued assets are assets issued by the user, i.e. anyone can issue their own asset. The issuer of the asset can set different levels of control he has over the asset, including the fact that he has no control at all. Assets can be used for an amazing variety of things, including performing crowd funds with equity, using them for property rights, or even as VIP tickets or simply as fan tokens.
Self-financed development
Organic, self-financed, digital growth is now possible. The technology underlying BitShares allows shareholders to vote for three different types of employees: 1) Witnesses 2) Delegates and 3) Workers. The witnesses are paid to process transactions and secure the network. The delegates are not paid, but are in an honorary position of trust to propose updates for the BitShares network. Finally, the workers can propose any project and if elected, they can be paid to work on their project.
This system makes BitShares the first blockchain capable of hiring its own staff fully decentralized, with every person who owns BitShares tokens having a say.
Conclusion
BitShares enables an open, scalable, distributed exchange and fintech platform with smartcoins, a novel financial instrument. It organises itself and finances its own work and development, making it the first DAC (or "DAO") to reach the free market. What does the future hold for BitShares? With the creation of Steem (this platform!), we can be optimistic that BitShares will return to its rightful prominent place in the crypto economy.
Trade BTS - BTS Markets, Exchanges, Broker
BitShares is a decentralized stock exchange and Fintech platform. BitShares is designed to be fast, efficient and scalable to handle the tens of thousands of transactions per second associated with distributed exchange. To understand the values traded on the BitShares distributed exchange, you need to understand the stable values called smartcoin and the digitized values called user-issued assets. After all, BitShares is designed to finance itself and employ its own staff.
Fast, efficient and scalable
The blockchain analyzed in the context of the Decentralized Autonomous Company (DAC) metaphor illustrates the importance of reducing transaction costs, increasing transaction speed and making the system scalable in order to work with existing to be able to compete with financial institutions.
BitShares was developed with these constraints in mind and eliminates the Proof of Work (PoW) security in Bitcoin for Delegated Proof of Stake (DPoS), which is cheaper and more efficient. This enables BitShares to deliver near instant transactions with extremely low fees and an infrastructure that adapts to the size of Visa/PayPal and beyond.
Decentralized Exchange
At present, crypto currencies like Bitcoin are traded on major exchanges that follow the traditional logic of centralization, with a single point of failure for corruption, information theft, coercion, robbery, fraud and so on, and that is exactly what we have seen in the crypto currency area and in Bitcoin exchanges.
The solution is no further away than using the technology behind Bitcoin, the blockchain, to create decentralised exchanges. BitShares was partly developed with this in mind, so emphasis was placed on speed, efficiency and scalability. The New York Stock Exchange and Wall Street will soon face disruptive competition from projects such as BitShares.
Smartcoins and Custom Assets
With BitShares it is possible to trade many different types of assets in addition to the native cryptocoin. In particular, there are so-called Smartcoins and User-Issued Assets.
Smartcoins are coins such as bitUSD, bitGOLD and bitCNY, which track the value of their counterparts, so that 1 bitUSD today is worth 1 USD per week, month or year. With Smartcoins, people can take advantage of the blockchain payment network without being exposed to the volatility that comes with the disruptive but emerging development stage.
As the name implies, user-issued assets are assets issued by the user, i.e. anyone can issue their own asset. The issuer of the asset can set different levels of control he has over the asset, including the fact that he has no control at all. Assets can be used for an amazing variety of things, including performing crowd funds with equity, using them for property rights, or even as VIP tickets or simply as fan tokens.
Self-financed development
Organic, self-financed, digital growth is now possible. The technology underlying BitShares allows shareholders to vote for three different types of employees: 1) Witnesses 2) Delegates and 3) Workers. The witnesses are paid to process transactions and secure the network. The delegates are not paid, but are in an honorary position of trust to propose updates for the BitShares network. Finally, the workers can propose any project and if elected, they can be paid to work on their project.
This system makes BitShares the first blockchain capable of hiring its own staff fully decentralized, with every person who owns BitShares tokens having a say.
Conclusion
BitShares enables an open, scalable, distributed exchange and fintech platform with smartcoins, a novel financial instrument. It organises itself and finances its own work and development, making it the first DAC (or "DAO") to reach the free market. What does the future hold for BitShares? With the creation of Steem (this platform!), we can be optimistic that BitShares will return to its rightful prominent place in the crypto economy.
