BitShares (BTS) is a decentralized exchange, a network, a stockbroker or a bank. The BitShares platform enables the development of applications and technological innovations. BitShares is transformed into an autonomous and systematic economy with fair and transparent rules, empowering the community with economic responsibility and financial freedom. BitShares is fast, efficient, and scalable to handle 10,000 transactions per second. BitShares uses blockchain platform with DPoS algorithm.

How does BitShares work?

BitShares was created to assist people who don’t have their own bank accounts; More than 3 billion people worldwide do not have access to financial services. In other words, BitShares became their own bank. To create a BitShares account, all you need is a device that can connect to the internet. Once a BitShares account is created, the platform provides users with a number of financial services. In BitShares, you can trade two types of assets: smartcoins and user-issued assets.

Smartcoins: A coin that is pegged to an asset of a particular value, such as a commodity or currency. These coins are programmed to always be close to the value of the underlying asset (volatility can cause temporary differences). They are backed by a complex system that leaves no room for fraud.

User-issued assets: Assets issued by users of the BitShares platform. Any BTS owner can come up with their own content and it’s entirely up to them how they shape the content, the level of control they want to maintain, and the value/amount they define.

Features of BTS

BTS is a software: At the innermost layer, BTS is a distributed multi-user database with update permissions governed by a defined set of rules and public key cryptography. The software is open source, easy to copy, modify and most importantly protected by free speech. This means that almost nothing can stop BTS at this short class for a global event that destroys almost all digital data.

BTS is a network: At the top layer, BTS is a network. Network of computers owned by individuals worldwide, using BTS software and synchronizing databases according to software-defined rules. A BTS network can exist as long as at least two computers can communicate with each other over the internet.

BTS is a ledger: Ledger is a database containing account balances and transactions between them. Every bank, company and organization involved in financial affairs has a ledger to keep track of who owns what. The BitShares file is powerful because it is built on two previous layers: a highly distributed network that is completely transparent and protected with the latest encryption.

BitShares is a company: In the case of BitShares, the database that tracks share ownership is called BTS. Each share can vote for 110 representatives. The top 101 representatives by vote will become responsible for running the software and maintaining the network, as well as performing other duties that shareholders must give them. BitShares is a company that involves fees and profits, which are shared with shareholders through share buybacks.

BitShares is a currency: Anything can be used as currency under the right circumstances. BitShares has a lot of different assets that can be used as money, including BTS, BitUSD, BitGold, and BitSilver. All of these asset classes are replaceable, divisible, transportable and cannot be counterfeited.

Conclude

The BitShares platform offers a lot of functionality and can be used for a variety of purposes. Decentralized exchange technology is far ahead of the competition. The digital asset model on the exchange will create an extremely potential financial game for investors. Besides, the BitShares development team is highly qualified and reputable in the blockchain world.

You can see BTS prices here.

According to AZCoin News

Follow the Twitter page | Subscribe to Telegram channel | Follow the Facebook page