BitShares is a Peer-to-Peer distributed ledger and network based on a Delegated Proof of Stake (DPoS) algorithm. It runs on the open-source blockchain implementation Graphene and aims to provide a more efficient global payment network for securely trading cryptocurrencies without intermediaries. The platform is powered by the BitShares (BTS) token, a native utility token with multiple purposes, including the creation of collateralizing market-pegged and stable smartcoin known as "bitAssets". The BitShares platform is managed by a decentralized autonomous company (DAC), allowing BTS token holders to decide the platform's future and which features to add next.

What makes BitShares unique?

BitShares stands out with its integrated decentralized cryptocurrency exchange platform (DEX), enabling users to trade regular cryptocurrencies and traditional financial instruments (via BitAssets) without middlemen. It is often regarded as the world's first DeFi capable blockchain due to its native DEX and support for synthetic assets (BitAssets). BitShares utilizes distributed autonomous companies (DACs) to create a self-governing, self-financing system. BTS holders can set the business rules that govern the BitShares ecosystem through a secure proposal and voting procedure. Unlike other platforms, BitShares eliminates the use of addresses and instead uses simple memos to identify users, making it more user-friendly. It also features a referral program that incentivizes network growth by distributing upgrade fees between referrers and the BitShares network. BitShares was the first blockchain to implement self-governed delegated proof-of-stake (DPoS) technology, offering fast transaction processing times of approximately 3 seconds. In September 2020, a hard fork resulted in the creation of New BitShares (NBS), a derivative project unaffiliated with the original BitShares. BTS holders received NBS tokens at a 1:1 ratio through an airdrop.

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.

Originally launched in July 2014 as ProtoShares (PTS), it was later rebranded to BitShares (BTS) within a year.

Powered by the BitShares (BTS) token, the platform allows for the creation of smartcoins known as BitAssets that can represent various assets such as reward points, collateralized fiat-pegged tokens, and IOUs.

Managed by a decentralized autonomous company (DAC), BitShares enables token holders to shape the platform's future and decide on new features. It utilizes the Graphene open-source blockchain implementation, capable of processing up to 100,000 transactions per second (TPS).

As of January 2021, BitShares is undergoing a relaunch and will experience significant changes going forward.

BitShares was co-founded in 2013 by notable figures in the cryptocurrency industry, including:

• Daniel Larimer, an accomplished software engineer who co-founded EOS.IO, Block.one, and Steemit.
• Charles Hoskinson, an entrepreneur and mathematician, one of the original co-founders of Ethereum, and current CEO of Input Output HK (IOHK).

The BitShares core team consists of 17 permanent workers and is supported by over 60 long-term contributors with expertise in various disciplines.

BitShares stands out with its integrated decentralized cryptocurrency exchange platform (DEX), enabling users to trade cryptocurrencies and traditional financial instruments (BitAssets) without intermediaries.

It is often regarded as the world's first DeFi-capable blockchain due to its native DEX and support for synthetic assets (BitAssets).

BitShares employs distributed autonomous companies (DACs) to create a self-governing, self-financing system. It replaces addresses with simple memos, making it more user-friendly. The platform also features a referral program to incentivize network growth.

Utilizing self-governed delegated proof-of-stake (DPoS) technology, BitShares boasts fast transaction processing and was the first blockchain to implement this consensus mechanism.

In September 2020, a hard fork led to the creation of New BitShares (NBS), a separate project not affiliated with the original BitShares.

As of January 2021, nearly 3 billion BTS coins are in circulation, which accounts for approximately 83% of the maximum BTS supply.

The initial funding for BitShares included community investments of 5,904 BTC and 415,000 Proton Shares (PTN) in 2014.

Full details of the BTS tokenomics are not publicly available.

The BitShares network is secured through a custom delegated proof-of-stake (DPoS) consensus mechanism. This system combines witnesses and decentralized voting to create a democratic consensus system that avoids centralization risks.

DPoS reduces the need for multiple transaction confirmations, ensuring fast finalization of BitShares transactions. Delegates, known as witnesses, are responsible for producing and broadcasting blocks, with safeguards in place to ensure their actions align with the network's best interests.

BitShares (BTS) tokens are available for purchase or trading on various prominent cryptocurrency exchange platforms, including Binance, Huobi Global, and HitBTC.

As of January 2021, the most liquid BTS trading pairs are BTS/USDT, BTS/BTC, and BTS/ETH. However, there are currently no liquid BTS to fiat trading pairs.

If you prefer to buy BTS using a credit or debit card, you can refer to our guide on purchasing cryptocurrencies with fiat.