What is BitShares?

What is BitShares?

Bitshares (BTS)

Website

Whitepaper

 

Bitshares (BTS) is a peer-to-peer decentralized bank and exchange. It claims to be one of the fastest payment methods, BTS can even be more instant than Master and VISA card combined. The block time can be confirmed in a single second, meaning that they can complete and verify transactions in just a second.

It can handle relatively quick transactions, and this is one of the reasons why there’s a significant number of crypto enthusiasts that show a keen interest in it.  Another feature BTS has referred as funding that comes in a fully decentralized manner. It means that the control is on the users rather than by a single authority.

How do BTS works?

The funding feature can be compelling; it allows Bitshares to pay itself for new features or bug fixes that it needs. Bug fixes refer to the technical stuff that developers need to reprogram or repair. For you to understand the idea of BTS funding better, we’ll give you an example. For instance, you’re a part of BTS, and you wanted to improve its security, so what you will do is you have to present your plan to people who own BTS. If they approve your idea, they will be giving you fund to put your proposal into work.

Bitshare video explanation

Is BTS scalable?

Bitshares Blockchain is extremely scalable. It processes many transactions every second and is proven to be able to compete with the top payment processors in the world today. BTS will not be bogged down by limitations of technology.

What are user-issued assets?

An asset is simply a device, data, or a component that supports the hardware. User-issued assets are one of the main features of BTS that allows the users to create their assets and this can be an inexpensive asset that you just share with your friends for fun.

It could also be corporations issuing their shares on the BTS blockchain. This feature puts the users an enormous amount of control over exactly how those units can be used. For instance, a BTS user can say that certain accounts can only hold particular shares or say that the assets can only be traded with a definite asset in exchange.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: