What is Bitshares (BTS)?
Bitshares, formerly referred to as ProtoShares (PTS), is an investment currency with its own digital currency (BTS). Bitshares allows its users to trade and invest in a limitless list of assets while taking care of the security of the blockchain. Most of the features of Bitshares are what you would expect from a traditional trading platform, but with all the advantages of cryptocurrency, decentralization and other blockchain features.
Bitshares is a peer-to-peer distributed ledger as well as a network. It was created in 2014 by the co-founder of Steemit, EOS, and Cryptonomex Dan Larimer. Users of Bitshares use the BTS token as collateral for several decentralized financial services which include currency rails, banking, derivative creation, smart contracts, and decentralized exchanges.
Graphene, an open-source C++ implementation of the blockchain, serves as the consensus mechanism. It is the basis for Bitshares and has several real-world use cases through Steemit.com and PeerPlays.com.
As Bitshares is based on Graphene, its scalability is on the same level as some blockchain implementations. Graphene is able to handle up to 100,000 TPS. This figure shows that Bitshare is able to handle more transactions per second than MasterCard and Visa combined.
Confirmation for transactions take one second on average in the Bitshares network thanks to the Delegated Proof of Stake consensus.
This scalability is possible due to learning from other exchanges that have high scalability, which include the LMAX Exchange, which itself is capable of processing 6 million transactions per second. Bitshares mirrors the structure of the exchange in that it keeps everything within memory, keeps the core business logic in one thread while keeping the cryptographic operations separate from core business login, uses an object-oriented data model and divides validation into state-independent and state-dependent checks.
How Does BitShares’ Exchange Work?
Bitshares includes a decentralized asset exchange that can handle high volumes of trading like NASDAQ and is able to settle orders as soon as they are submitted as well as providing other features any good trading platform should have.
The Bitshares exchange is decentralized in nature, which helps to protect it from failing since no single point exists for such a failure to happen. Trades are executed within seconds on the exchange. You will not find high-frequency trading, nor hidden orders or front-running. In addition, Bitshares is highly secure with all assets in the exchange being held in the form of a SmartCoin backed by more than twice the reserves on a centralized exchange. A 100 percent reserve is the bare minimum as this can protect against surprise attacks.
There are no trading or withdrawal limits on the Bitshares exchange and there are no excessive demands for documentation. If you are looking for a really cheap exchange, Bitshares is a good choice as it takes just a couple of cents per trade with the SmartCoin pairs.
Bitshares (BTS) will be Listing on Atomars
Bitshares (BTS) has announced that it will be listing on Atomars on November 3rd with the trading pairs BTS/BTC and BTS/ETH.
Atomars is a new digital assets trading platform on the cryptocurrency marketplace that is currently bridging the gap between fiat and cryptocurrencies. By being fast, safe, secure and user-friendly, the Atomars platform seeks to make trading easy for everyone. You can find many of the major cryptocurrencies such as Bitcoin, Ethereum, Litecoin, DASH, USDT and more on the platform. Their web and mobile apps make it easy and fun trading on the go.