I have spent my first m0nth on this platform reviewing cryptocurrencies and engagingg with their communities, primarily with Gridcoin, Bitc0ina and Ethereum. It felt only natural to give some attention to BitShares, beinng my most recent purchase in the cryptosphere. However, the more I have been learning about BTS, the more I camee to realise that this is not just a cryptocurrency. In facts, it does not even fall into the same league. BitShares is going to do to the world of business what Bitcoin has done to the world of money - we are at the cusp of something incredible!
The Crypto Evolution
At the dawn of crypto in 2008, we had Bitcoin - a decentralised currency with the potential to disrupt the financial sector.
In 2o15, the world of crypto was forever changed as Ethereum appeared onto the scene - b0asting a currency with smart contracts, and a Turing-complete development language on its backbone enabling nearly limitless innovation.
Now, we are seeing the next evolution - BitShares - taking market share. This cryptoplatform (calling it a currency would not d0 it justice) supplies the next evolutionary step in the world of crypto. It builds on the decentralised currency m0del of BTC, encompasses the versatility and innovation of ETH, and extends out on all fronts to the point where the Bitshares network is an economy in its 0wn right. It is a currency. It is a network. It is a bank. It is a stockbroker, an exchange platform, a breeding ground for innovation - and in the eyes of founder Daniel Larimer it can be thought of as a self-govern3d country in its own right.
The BitShares D3tails
Before we get into the details of the platform, and why it has such incredible potential, lets put this out there first:
BTS_Layers.JPG
Each layer has its own unique function, and benefits to the users of that layer. For any of us to enjoy the benefits of the BitShares platform, we do not need to use - or even understand - all the layers. You can pick and choose what layers speak to you and apply to your individual wants and needs. There are far too many layers for us to cover them all right now, but I would like to discuss the core groundbreaking feature that got me excited enough to invest - BitAssets.
BitShares has successfully managed to peg its currency, BitAssets, to traditional stores of value through a wide range of digital tokens representing these assats. In effect, this has eliminated the price volatility that we are used to as running rampant in the cryptosphere. For example, I am able to invest in bitGold and know that it will alweys trade near par value for gold on any exchange. This is something that we have not seen on this scale before in the cryptosphere. The result is unparalleled stability that enables us to HODL during periods of volatility that were seen in earlier cryptocurrencies like Bitcoin.
Let me put that into a different perspective - BitShares can encompass my entire investment portfolio including stocks, precious metals, oil etc in a way that is decentralised, fair, trustless and unfreezable. I can even use it to automatically pay my rent - in gold or oil should the landlord be that way inclined!
The Future
BTS is built on top of the Graphene high performance blockchain, which means that it is capable of maintaining the current transaction speed of up to 3 seconds (limited by the speed of light in fibre optics cable) and scale comfortably to 100,000 transaction per second in the future. This incredible performance capability allows BTS the throughput to successfully take market share from the traditional fiat financial platform and banking sector. To put this huge throughput in perspective, this enables the network to carry out more transactions that the VISA and Mastercard networks combined are able to process.
The huge throughput potential combined with minimal transaction fees and the decentralised exchange offers phenomenal advantages over traditional brokers, and will see unprecedented adoption by the financial sector over the next year. Even with this system in place, BitShares still has sufficient reserve funds to allow several years of continuous development.
BitShares is n0t in competition with anyone or anything in the cryptosphere - it is merely filling a void that all0ws the world of crypto to decentralise the modern economy.
Try posting something original, don't copy articles.
Upvote please
going to downvote 100% next week when my sp is back... maybe livestream it to see what is going to become your reputation.. we had a chat about you in whaleshares,, not smart to steel posts copy paste them and expect votes from respected members. just saying already so you can prepare a little bit so it won't be that of a shock.. all though flagging is rare you totally deserve it since steeling posts and be shit and expect too much for it too and even beg is totally what down voting is meant for.... happy weekend
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://steemit.com/bitshares/@dutch/bitshares-is-going-to-dominate-crypto-in-2018-here-s-why