Difference between revisions of "Bitshares (BTS)"
From CryptoWiki
wiki_crypto>Zeb.dyor |
|||
| (One intermediate revision by one other user not shown) | |||
| Line 5: | Line 5: | ||
* Inflationary economic model, Inflation: 6,3% and decreasing | * Inflationary economic model, Inflation: 6,3% and decreasing | ||
* A [[Decentralized Autonomous Company (DAC)|DAC]] | * A [[Decentralized Autonomous Company (DAC)|DAC]] | ||
* In a nutshell, Bitshares is a [[decentralized]] [[Peer-to-Peer network|peer-to-peer]] crypto-currency like [[Bitcoin (BTC)|Bitcoin]] that allows you to trade other entities that can be anything, from Gold to Apple stock to Bitcoin. | * In a nutshell, Bitshares is a [[decentralized]] [[Peer-to-Peer network|peer-to-peer]] crypto-currency like [[Bitcoin (BTC)|Bitcoin]] that allows you to trade other entities that can be anything, from Gold to [[Apple]] stock to [[Bitcoin]]. | ||
* Bitshares is a [[decentralised exchange]] which has the benefits of increased security and equality between market orders (No high frequency trading, front running, hidden orders or location bias). Digital tokens of common physical assets such as gold also exist on this platform, however, these are not actually backed by the real physical assets as other platforms intend to do. It has pegged [[fiat]] cryptocurrencies and zero fees. | * Bitshares is a [[decentralised exchange]] which has the benefits of increased security and equality between market orders (No high frequency trading, [[front running]], hidden orders or location bias). Digital tokens of common physical assets such as gold also exist on this platform, however, these are not actually backed by the real physical assets as other platforms intend to do. It has pegged [[fiat]] cryptocurrencies and zero [[fees]]. | ||
* [[Tokens]], shares, pegs and [[Decentralised Autonomous Organisation (DAO)|DAO's]]. BitShares was originally an experiment to test the economic theory behind a new kind of [[Prediction Market|prediction market]]. This experiment creates a decentralized bank and exchange that uses a decentralized transaction ledger secured by [[Delegated-Proof-of-Stake (DPoS)|DPOS]] to create fungible digital assets that are market-pegged to the value of anything from dollars, to gold, to gallons of gasoline. | * [[Tokens]], shares, pegs and [[Decentralised Autonomous Organisation (DAO)|DAO's]]. BitShares was originally an experiment to test the economic theory behind a new kind of [[Prediction Market|prediction market]]. This experiment creates a decentralized bank and exchange that uses a decentralized [[transaction]] ledger secured by [[Delegated-Proof-of-Stake (DPoS)|DPOS]] to create [[fungible]] digital assets that are market-pegged to the value of anything from dollars, to gold, to gallons of gasoline. | ||
* A broad term which encompasses all [[Distributed Autonomous Companies (DAC)|Distributed Autonomous Companies]] that spawn from ideas and code put forward by [[Invictus Innovations]].Which is a (regular) company fronted by Co-Founder, [[Daniel Larimer]]. Invictus creates Distributed Autonomous Companies (DACs) under the Bitshares banner. These DACs are released to the public and honour Bitshares PTS (fka ProtoShares) and Bitshares AGS holders with part ownership in these DACs. UPDATE: however, by the year of 2018 the focus of the company had shifted towards [[EOS]]. | * A broad term which encompasses all [[Distributed Autonomous Companies (DAC)|Distributed Autonomous Companies]] that spawn from ideas and code put forward by [[Invictus Innovations]].Which is a (regular) company fronted by Co-Founder, [[Daniel Larimer]]. Invictus creates [[Distributed]] Autonomous Companies (DACs) under the Bitshares banner. These DACs are released to the public and honour Bitshares PTS (fka ProtoShares) and Bitshares AGS holders with part ownership in these DACs. UPDATE: however, by the year of 2018 the focus of the company had shifted towards [[EOS]]. | ||
== History == | |||
* [https://banklessdao.substack.com/p/the-stablecoin-edition-defi-download?s=r From] [[Bankless DAO (BANK)|Bankless]] (3-6-2022): | |||
''"In July of 2014, [[Daniel Larimer|Dan Larimer]] and [[Charles Hoskinson]] [https://medium.com/the-ledger-by-spark/what-is-bitusd-everything-you-need-to-know-about-the-first-stablecoin-ever-created-72337c53fdfa issued] the first ever [[Stablecoins|stablecoin]] called BitUSD on the Bitshares [[Blockchain]], which was backed by the Bitshares’ native [[token]] BTS and other crypto assets. Both founders are well known in the crypto space. Charles Hoskinson is one of the co-founders of [[Ethereum (ETH)|Ethereum]], while [[Dan Larimer]] was the CTO and core developer at [[Block.one|Block One]], which founded [[EOS]] in 2017.'' | |||
''After inception, BTS was used as collateral for other [[stablecoins]], which were backed by native, local currencies such as the Philippine Peso. For BitUSD to stay stable, the amount of BTS used as collateral had to be [https://medium.com/the-ledger-by-spark/what-is-bitusd-everything-you-need-to-know-about-the-first-stablecoin-ever-created-72337c53fdfa at least two times] the value of one dollar.'' | |||
''BitUSD’s peg broke in 2017, caused by high overall crypto market volatility and instant liquidations, and the token is no longer actively traded."'' | |||
== Tech == | == Tech == | ||
* [[Smart Contract|Smart contract]] | * [[Smart Contract|Smart contract]] | ||
* [[Delegated-Proof-of-Stake (DPoS)|Delegated PoS]] | * [[Delegated-Proof-of-Stake (DPoS)|Delegated PoS]] | ||
* 10 seconds [[Block]] production time, worst case for confirmation time: 51 blocks, 10 TPS | * 10 seconds [[Block]] production time, worst case for [[confirmation]] time: 51 [[blocks]], 10 TPS | ||
* Network Security Costs: Fraction of [[Transaction (Tx)|Tx. Fee]] | * Network Security Costs: Fraction of [[Transaction (Tx)|Tx. Fee]] | ||
* Anonymous | * Anonymous | ||
| Line 36: | Line 46: | ||
* Never really took off | * Never really took off | ||
Advantages | Advantages | ||
* Very fast transactions | * Very fast [[transactions]] | ||
* Very high transactions per second (100,000s Tx/s) | * Very high [[transactions per second]] (100,000s Tx/s) | ||
* low [[Transaction Fee|fees]] | * low [[Transaction Fee|fees]] | ||
* [[decentralised exchange]] (no third party risk) | * [[decentralised exchange]] (no third party risk) | ||
[[Category:Coins/Tokens]] | [[Category:Coins/Tokens]] | ||
Latest revision as of 04:04, 6 June 2022
| Type | a DAC |
|---|---|
| Ticker symbol | BTS |
| Consensus mechanism | Delegated PoS |
| Total supply | 3.76B |
Basics
- FKA Protoshares.
- Inflationary economic model, Inflation: 6,3% and decreasing
- A DAC
- In a nutshell, Bitshares is a decentralized peer-to-peer crypto-currency like Bitcoin that allows you to trade other entities that can be anything, from Gold to Apple stock to Bitcoin.
- Bitshares is a decentralised exchange which has the benefits of increased security and equality between market orders (No high frequency trading, front running, hidden orders or location bias). Digital tokens of common physical assets such as gold also exist on this platform, however, these are not actually backed by the real physical assets as other platforms intend to do. It has pegged fiat cryptocurrencies and zero fees.
- Tokens, shares, pegs and DAO's. BitShares was originally an experiment to test the economic theory behind a new kind of prediction market. This experiment creates a decentralized bank and exchange that uses a decentralized transaction ledger secured by DPOS to create fungible digital assets that are market-pegged to the value of anything from dollars, to gold, to gallons of gasoline.
- A broad term which encompasses all Distributed Autonomous Companies that spawn from ideas and code put forward by Invictus Innovations.Which is a (regular) company fronted by Co-Founder, Daniel Larimer. Invictus creates Distributed Autonomous Companies (DACs) under the Bitshares banner. These DACs are released to the public and honour Bitshares PTS (fka ProtoShares) and Bitshares AGS holders with part ownership in these DACs. UPDATE: however, by the year of 2018 the focus of the company had shifted towards EOS.
History
"In July of 2014, Dan Larimer and Charles Hoskinson issued the first ever stablecoin called BitUSD on the Bitshares Blockchain, which was backed by the Bitshares’ native token BTS and other crypto assets. Both founders are well known in the crypto space. Charles Hoskinson is one of the co-founders of Ethereum, while Dan Larimer was the CTO and core developer at Block One, which founded EOS in 2017.
After inception, BTS was used as collateral for other stablecoins, which were backed by native, local currencies such as the Philippine Peso. For BitUSD to stay stable, the amount of BTS used as collateral had to be at least two times the value of one dollar.
BitUSD’s peg broke in 2017, caused by high overall crypto market volatility and instant liquidations, and the token is no longer actively traded."
Tech
- Smart contract
- Delegated PoS
- 10 seconds Block production time, worst case for confirmation time: 51 blocks, 10 TPS
- Network Security Costs: Fraction of Tx. Fee
- Anonymous
- Encrypted messaging
- Exchange
- Cross Chain trading support
- Has a voting system
- Transparent Presale
- Not Mineable
- Pegged
- Self Funding
- Instant Transactions
Team, etc.
- Larimer, Daniel; creator
- Hoskinson, Charles; involved in the early stages
- Both are focussed on other projects (2018), EOS and ADA respectivly.
Cons and pros
Risks
- From what I can see there is no legal backing behind their digitized assets.
- Never really took off
Advantages
- Very fast transactions
- Very high transactions per second (100,000s Tx/s)
- low fees
- decentralised exchange (no third party risk)
