Bitshares – cryptocurrency, exchange and blockchain

Incryptico » Bitshares — cryptocurrency, exchange and blockchain
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The Bitshares platform is a distributed exchange based on the Graphene algorithm, which was created by developers from Cryptonomex. The project was launched in 2014 by Dan Larimer. The official site is available from the link https: // Bitshares.Org.

The principle of work and the history of creation

Bitcoin inspired the development of the Bitshares project of the Bitshares project. They took it as a revolutionary financial instrument, but considered that the multi -million rewards of the miners, which are paid annually, are inappropriate. There is no mining in this platform to which everyone is accustomed. 
Bitshares is a distributed exchanger with high throughput. All the functionality that is in it corresponds to the functionality of ordinary centralized exchange platforms. Users are available purchase and sale of assets, their tracking.
Tokens that the platform uses are tied to fiat currencies, for example, dollars, euro, yuanam. So, by buying tokens Bitusd, Biteur, Bitcny, the user will always be able to exchange them at the rate, which corresponds to the nominal value. 


Below are the main technical characteristics of the cryptocurrency Bitshares:

  • The consensus achievement algorithm –Proof-off-stake using delegates using DPOS Graphene technology
  • Block time – 3 seconds, delay of ~ 1.5 seconds to achieve irreversibility in 99.nine% 
  • Blok award – 3 bts
  • Coins that are outside the reserve fund – 2599900000 BTS
  • Coins that are in the reserve fund – 1000668097 BTS
  • The maximum possible number of coins is 3600570502 (fixed number)
  • The maximum possible number of transactions per second is from 100,000 to 180,000
  • It is also worth noting that the system does not use complex long addresses that can be seen in bitcoin or etherium. In BitShares, your address on the blockchain is the name of the account. 
  • The platform also provides users with a technology to create their own tokens that can be sold and sent to other participants. It is allowed to even add unique rules that limit the circle of users who have the opportunity to own tokens.

    Bitshares - cryptocurrency, exchange and blockchain


    At the time of writing, at the end of January 2018, the price of one BTS coin is 50 cents. Emission in 2.6 billion allows the currency to have capitalization in 1.$ 3 billion and take 32nd place in the ranking on the CoinmarketCap website. The volume of trading over the past month has amounted to 1.9 billion and Bitshares are in the 34th position in this indicator. 

    The record price of BTS was about 90 cents and was reached by Pampu in early January 2018. After that, the course began to be adjusted and the fall of up to 27 cents per coin followed. Now the schedule has turned around and the cost is growing again.


    Bitshares - cryptocurrency, exchange and blockchain

    On the official website of the project, users are invited to use an online foreigner, or download a special application. The browser version has been translated into several languages, among which there is Russian.
    To work with the platform, you must register an account. The creators guarantee the safety of this process and claim that everything is generated directly in the user browser. It is also strongly recommended to make a backup of the exchange wallet, as when working with ordinary cryptocurrencies.
    The platform interface is quite understandable and is not too different from the appearance of any other site for trade in cryptocurrencies. 
    The wallet account can be replenished with other coins or fiat money. Special services called a “bridge” and “gateway” are used just for this. This is how user money is converted into smart currencies used by the platform. This process is described in more detail on the replenishment page that can be found on the exchange.

    How to get BTS

    As noted above, in BitShares there is no familiar mining system. An analogue of the miner in this platform is a delegate. They are tracking and confirming the changes made on the project blockchain.
    A delegate is elected by other users of the project and anyone can become it from them. Each BTS coin on the account of the Platform participant provides him with the opportunity to vote for the delegate to whom he can trust. Accordingly, only those users who voted more people are obtained by the right to add blocks than for the rest.
    A similar system has a number of advantages, because it allows you to choose those who confirm transactions, and not trust this serious process random miners.

    Where to buy

    If you decide to purchase bitshares coins, you can do this on several large trading floors that specialize in cryptocurrencies. Among them are Poloniex, Binance and Livecoin.
    Trading pairs with bitcoin are available on all three exchanges. If we talk about other currencies, then Binance also offers trade with Ethereum and BNB (Binance Coin). The largest trading volume falls on this exchange. Fiat with fiat currencies are available as part of the BitShares platform itself.
    BTS cryptocurrency can be found on many other sites, many of which are various decentralized projects, like Bitshares. 


    In conclusion, this project is a really promising solution that will interest traders. This is a great example of an exchange that ensures the security of the assets of its users due to the decentralized approach. Another category of users that this project will attract are tokens developers, because Bitshares is a wonderful site for ICO. Do not forget about the possibility of quick conversion of fiat means into tokens that are attached to them. Such an opportunity may become a standard for transferring real money into cryptocurrencies. Of course, Bitshares uses financial instruments that may not be clear to ordinary users. But if this does not scare you, then this platform deserves your attention.

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