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

Founder and Executive Manager of Compumatrix International

Leave a Reply

Your email address will not be published. Required fields are marked *