BitShares is an open-source, public, blockchain-based real-time financial platform that provides a built-in decentralized asset exchange. Without any central authority to handle all the funds, It executes transactions using an international network of computers in which anyone can take part. BitShares also provides a cryptocurrency token called "BTS", which can be transferred between accounts and is used to collect fees for network operations and as a collateral for loans.
Dan Larimer an Entrepreneur has discovered a way of creating a fiat/Bitcoin exchange without fiat deposits by introducing a token that is backed by another token on the same blockchain On June 2nd 2013. While discussing this concept with other crypto-enthusiasts on various Internet forums, He introduced his ideas to Charles Hoskinson, a co-founder of Ethereum, who helped to vet the idea and develop a business plan. They both presented the plan to Li Xiaolai, a Chinese Bitcoin tycoon, who agreed to fund the development. On 4th of July and they have founded a company named Invictus Innovations. Few month later, In October 2013 Hoskinson and Larimer presented the concept of BitShares at the Atlanta Bitcoin Conference .
Features that distinguish it from other cryptocurrencies.
Over 100,000 transactions per second. User can do Recurring and Scheduled Payments
A fast and fluid trading platform with Flexible withdrawal permissions
Management for the corporate environment. User-Issued Assets: Regulation-compatible crypto asset issuance. Transferable Named Accounts and Delegated Proof-of-Stake Consensus.
SmartCoins provide the freedom of cryptocurrency with the stability of the dollar.
BTS is built on top of the Graphene high performance blockchain, which means that it is capable of maintaining the current transaction speed of up to 3 seconds and up to 100,000 transaction per second in the future. This incredible performance capability allows BTS the throughput to successfully take market share from the traditional fiat financial platform and banking sector.
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