What is BitShares (BTS)?

BitShares (symbol BTS), formerly known as ProtoShares (PTS), is an industrial-grade “crypto-equity”, peer to peer distributed ledger and network based on a Delegated Proof of Stake (DPoS) algorithm. It was created in 2014 by visionary Dan Larimer (“Bytemaster”), co-founder of Steemit, EOS and, Cryptonomex.

BitShares is based on Graphene, an open-source C++ blockchain implementation, which acts as a consensus mechanism. Graphene is used by several other projects like Steemit.com (decentralized Reddit, blog platform), and PeerPlays.com (gaming site and token PPY) indicating real-world usage.

The Graphene Ecosystem

BitShares operates more as an equity rather than a purist “currency” since BTS tokens are used as collateral for a variety of decentralized financial services like smart contracts, decentralized exchanges, banking, derivative creation (of market pegged “bitAssets”) and currency rails.

About the author

Henry is the Founder and Executive Managing Director of Compumatrix and Networks International. He is also the Editor-in-Chief of the Compumatrix Bloggers' Network.

Comments

  1. Compumatrix eco-system found its place in Bitshares platform where descentralization was/is a key element for our businessassets can be traded in our DEX

  2. Bitshares is a great, perfectly scalable, all-in-one decentralized ledger that also has one of the first-ever stablecoin. The only problem with it is that it’s very unintuitive and hard to work on for companies that don’t have an in-house development team with such niche skills.

    Luckily, after all this time there are companies emerging like Bitshares Labs that can help anyone with passion and interest to build products, services and modern payment rails on Bitshares decentralized network.

    Compumatrix is a great example of what could be achieved when building on Bitshares.

  3. A perfect decentralized platform for trading, and Bitshares gives us this requirement.

    It caters to and blends very well with Compumatrix, providing us the solutions that we need as of now.

  4. I like the fact that that Bitshares platform seems more tied to actual real assets than just some kind of new made up token or some other cryptocurrency. For instance USDT being directly tied to the USD. or EurCX being tied to Euros. That seems to make things more tangible to me anyway. It’s amazing how many 1000’s of assets can be paired with BTS.

  5. The platform is built to the blockchain.
    Unlike bitcoin, bitshares main goal is not to be a peer-to-peer currency, but a fully-fledged exchange system with value tokens tied to real-life assets.
    The bitshares core software has just been updated to the 4.0.0 protocol.
    This software is used to build the validation nodes that perform consensus of all transactions on the bitshares blockchain.

  6. Bitshares allows us the opportunity to be recognized as the company we are (Compumatrix) and at the same time, we are decentralized on the Bitshares Decentralized platform. We will be able to work together under the company umbrella and at the same time know we have the protection of a decentralized system.

  7. awesome read and great replies also — I have not looked at all at this Bitshares platform and now I will research more and like the steem it issues and bitcoin on the dex and ether and ethereum on the market and it is not just about seeing what the price is but how it actually works and what can I do to maximize my position —

  8. This is a very good read about Bitshares, and the comments are awesome and very helpful. I get to learn more and more about cryptocurrency and our business each day through the blogs and comments from the well-informed in the community. Once again, thank you for putting this up to help enrich the membership with the wealth of information available, thus adding to their confidence.

  9. such a good reply Veronica — i have learned a bunch over the last few weeks as i read through the replies and re-read the blogs — it is a great small specialized school of higher learning and with a little effort the information is being learnt and i am not an easy student but I am trying and reading these blogs definitely helps —

  10. From my understanding, BitShares is a platform that will allow Compumatrix members to “cashout”. To expand, BitShares already set up for transforming cryptocurrencies to fiat, which will allow Compumatrix members to turn their cryptocurrencies into USD or EURO. I have already studied a lot on Dan Larimer, but more information on him is always useful! The more knowledge one has the better equipped they are under any circumstance.

  11. BTS or Bitshares seems like a very solid platform that can help the transaction time and scalability of the Compumatrix Dex. This article helped explain alot to me. There appears to be a need for crypto-engineers to help merge varying Dex platforms. Thanks for the education of BTS and it’s platform.

  12. just came back and read this again and the replies — and after reading thru the other blogs for the past month or so and then come back to this blog and wow the sense this makes is phenomenal — and now know the tie-ins between Dex and BTC and Bitshares and how it may all come together because it is decentralized and it also is tied to fiat currency also — just wow — thank you very much —

  13. I am excited about Compumatrix’s involvement with BitShares! By Compumatrix partnering with Bitshares, BitShares will eventually allow us smoothly to cashout our funds from cryptocurrency to fiat. Specifically, Compumatrix to Bitshares → Bitshares to fiat → equals yay! It is exciting to think about just how close we all really are to changing history!

  14. Compumatrix has been around for a while, and so many of us have worked hard to build up our cyrptocurrency in the form of compuceeds. But we had no way to convert cyrptocurrency to fiat in any form, and so we had to partner with a company which had the way and means of doing this. The hard work to merge the systems (constant testing and retesting) has been quite the task for Henry and all of His team, but the time is well spent and Bitshares did most of the hard work by being the great company they have become with effort and team-work with all the companies they work with.

  15. Thank you Henry for all you do. Helping us all get moving and understanding has been amazing. We appreciate all the time the team takes to make sure we are all moving in the right direction and we will continue to blossom like a lotus flower.

  16. Henry nice of you to post regards Bitshares and how Compumatrix is able to use their platform for it’s function .Bitshare has Compumatrix as one of the assets that is traded on their platform and has exposure to all those visiting their web site. In the long run Compumatrix will benefit a lot being involved with Bitshares I think. It will help us converting our assets to Fiat of ou rrespevtive countries. Hurray.

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