BitsharesBitshares is a platform that serves as an investment platform for different digital assets. Bitshares users can trade and invest in digital assets on the decentralized exchange of bitshares.
What is Bitshares?
Bitshares is a platform that serves as an investment platform for different digital assets. Bitshares users can trade and invest in digital assets on the decentralized exchange of bitshares. These assets could be anything from shares of a DAO, shares of a normal corporate, a crowd-funding campaign or simply a token. The platform allows user to create tokenized assets easily with your own customized set of rules and these assets could be tradable on Bitshares’s decentralized exchange.
How does Bitshares work?
Bitshares native token is BTS which could be converted into a price stable bitAsset known as BitUSD. BitUSD tracks the movements of the dollar by aggregating a variety of data sources that are maintained by the BitShares community.
Users of Bitshares will pledge their BTS in exchange of BitAsset like BitUSD which would be used to run smart contract or acquire other BitAssets on the platform. The BitAsset (BitUSD) is always collateralized by at least 200% of BTS in value therefore could almost always be converted back USD at a 1:1 ratio.
Using BitUSD, users could trade almost any user-issued asset on the Bitshares platform. On the issuer side, issuer can issue any assets linked to the real world and be traded on the platform provided that there is sufficient demand.
In terms of consensus mechanism, Bitshares operate on Delegated Proof of Stake, which is similar to EOS as the two shares the same co-founder. The system is designed based on Graphene technology which claims to improve blockchain performance with the promise of faster transactions per second.