BitShares – Blockchain Token: What is it?

This episode of Blockchain Token – Which is it? covers BitShares! In this series, we will cover the different types of blockchain platforms and cryptocurrencies on the market right now. We’ll give you a quick description of each blockchain/token, its function, their competition and where you can learn more.

BitShares is a decentralized exchange and fintech solution that is a decentralized autonomous organization, or DAO for short. This means that there is no head leading the project and it is self funded. In order for a decentralized exchange to function properly it must be able to process several transactions every second. BitShares offers this needed scalability, allowing for trading to occur in high volumes with short clearing times.

Bitshares has pointed out certain issues with a Proof-of-work mining system, and has instead chosen to use a delegated proof of stake mining algorithm. A major problem with maintaining a decentralized exchange is keeping fees down, otherwise users will head to other exchanges. Delegated Proof of Stake allows for fees to be limited while maintaining the necessary trading volume.

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BitShares – Blockchain Token: What is it?

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Kane Dane