As a result of the fork, BTS holders were airdropped NBS tokens at a 1:1 ratio. In September 2020, the BitShares platform underwent a hard fork, leading to the creation of New BitShares (NBS) - a derivative project that is not affiliated with the original BitShares. It was the first blockchain to use self-governed delegated proof-of-stake ( DPoS) technology and has an ~3-second processing time for transactions, making it one of the fastest blockchains currently operating. It is also built around a popular referral program that is used to incentivize the growth of the network by distributing upgrade fees between referrers and the BitShares network. Instead, it uses simple memos to distinguish users, making it one of the more accessible crypto platforms. One of BitShares’ major distinguishing features is its integrated decentralized cryptocurrency exchange platform ( DEX), which allows users to trade regular cryptocurrencies, as well as more traditional financial instruments (via BitAssets) without middlemen.īecause of its native DEX and support for synthetic assets (BitAssets), BitShares is often touted as the world’s first DeFi capable blockchain.Īs we previously touched on, BitShares uses distributed autonomous companies (DACs) to produce a self-governing, self-financing system that allows BTS holders to set the business rules that govern the BitShares ecosystem through a secure proposal and voting procedure.īitShares is also one of the few blockchain platforms to completely do away with addresses. Today, Hoskinson works as the CEO of Input Output HK (IOHK), the research and development company behind Cardano (ADA).Īs of January 2021, the BitShares core team consists of 17 permanent workers, supported by more than 60 long-term contributors - covering a range of disciplines including economics and legal, to systems admins and highly skilled developers. Larimer is an esteemed name in the cryptocurrency space and is widely regarded as one of its leading innovators.Ĭharles Hoskinson, an entrepreneur and mathematician who is one of the original eight co-founders of Ethereum - the second most successful blockchain platform (behind Bitcoin). Who Are the Founders of BitShares?īitShares was co-founded in 2013 by some of the cryptocurrency industry's biggest names, these include:ĭaniel Larimer, an accomplished software engineer and the co-founder of several other prominent blockchain ventures including EOS.IO, Block.one and Steemit. It runs on an open-source blockchain implementation known as Graphene, which is reportedly capable of processing up to 100,000 transactions per second (TPS) - making it faster than both MasterCard and VISA combined.Īs of January 2021, BitShares is in the process of a relaunch, and will be going through several major changes throughout going forward. The BitShares platform is managed by a decentralized autonomous company (DAC), which allows BTS token holders to decide the future of the platform, and decide which features to add next. The platform is powered by the BitShares (BTS) token, a native utility token that can be used for several purposes, including the creation of smartcoins known as “BitAssets,” which can have a variety of parameters and can represent practically anything - such as reward points, collateralized fiat-pegged tokens and IOUs. It was originally launched in July 2014 under the name ProtoShares (PTS) but was rebranded to BitShares (BTS) less than a year later. Links provided to third-party sites are not under Coinbase control, and Coinbase is not responsible for content on such third-party sites.BitShares is a decentralized platform designed to provide a more efficient global payment network and is commonly used for securely trading cryptocurrencies without any intermediaries. Information on this page is intended for and directed to customers in the United States only. Securities and Exchange Commission or the U.S. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided. This is not a recommendation to buy or sell a particular digital asset. Information is provided for educational purposes only and is not investment advice. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. or any of its affiliates and Coinbase is not responsible for such content. Certain content has been prepared by third parties not affiliated with Coinbase Inc. Actual cryptocurrency prices may vary.ĭata presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges. *Prices shown are for illustrative purposes only.
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