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BitShares

BitShares

Bitshares is a decentralized exchange designed for trading of cryptocurrencies utilizing a delegated proof of stake consensus.

BitShares is an open source decentralized exchange designed for the trading of cryptocurrencies utilizing a delegated proof-of-stake consensus (DPOS). BitShares was created by Dan Larimer in 2013, and assumed its existing form in October, 2015.



It is organized as a Decentralized Autonomous Organization (DAO), and has all the features typically associated with fiat currency based trading platforms. Features of Bitshares include: DPoS consensus; customizable account permissions; authorized transactions; user-issued blockchain assets; ability to create and extend functionality of built-in and/or external dApps; human-readable account names with public key registration; quick transaction processing speeds (average of 1.5 seconds); low fees with 80% vesting cash back for lifetime members; ability to issue recurring and schedules payments; and a high level of security through delegated Proof-of-Stake (DPOS). 



BitShares was created by an Daniel Larimer. It is described as a cryptocurrency platform, a digital currency, or a digital exchange. The Financial Times in 2016 pointed out BitShares difficulty to operate its DAO due to conflicting interests of its voting members. Bitshares were seized (along with Bitcoin and other digital currencies), when the U.S. Securities and Exchange Commission in 2018 seized the assets of AriseBank for operating an illegal Initial coin offering. Bitshares was initially referred to as ProtoShares. Remittance company Bitspark based in Hong Kong raised 1.4 Million USD by doing an Initial coin offering on the bitshares platform.



Timeline

People

Name
Role
LinkedIn

Dan Larimer

Founder



Further reading

Title
Author
Link
Type
Date

BitShares Reaches Record Transaction, Overtakes Bitcoin and Ethereum in Transaction Volume

Michael Taggart

News



BitShares whitepaper

BitShares





Documentaries, videos and podcasts

Title
Date
Link

Dan Larimer - Bitshares

January 25, 2015

Companies

Company
CEO
Location
Products/Services









References