Mon. Oct 25th, 2021
    BitShares, Wiki

    BitShares is one of the oldest blockchain platforms (created in 2014, originally called ProtoShares), founded by entrepreneur and programmer Dan Larimer, known as Bytemaster.


    • The project runs on DPoS, where it is assumed that all users can participate in consensus building by selecting validators (in this case, “witnesses”) by voting. The value of a vote is determined by the balance of the base currency, and blocks are formed by the chosen validators.
    • BitShares is based on the Graphene open-source blockchain, which can theoretically process thousands of transactions per second. 
    • Payment support with increased user privacy (Stealth Transfers). It can be applied optionally, since regular (non-confidential) payments are used by default.
    • BTS cryptocurrency (utility token) can be used for several purposes, including conversion into BitAssets smart coins (their price is tied to tangible assets and fiat funds, thus avoiding volatility).
    • The platform is operated by a decentralized autonomous company (DAC), which allows BTS holders to decide what features to add in the future, thereby determining the future of the platform.

    The BitShares protocol has been used as a basis in other systems: EOS, Steemit. the Whitepaper can be read here.