Great question, I'm not an expert in BTS but I will do my best here. SmartCoins on BitShares are collaterized assets, trading leverage on one end for stability on the other. AFAIK, BTS does not support the same controls that Prism is offering. Only pegged assets like bitUSD and bitGold. Prisms are backed in ETH collateral but can give exposure to portfolios of many different asset combinations.
Also BTS is not Ethereum and the implementation of Prism in the form of smart contracts is much more flexible than BTS
I would say first off, no KYC or anything of the like on Ethereum or Prism. The bitshares model supports stable assets on the blockchain - this is different from prism where portfolios are not stable assets, they simply give the holder exposure to markets other than ETH.
This is very different from what BitShares is offering. Plus it is on Ethereum.
Well first off, you do not need to trust the solvency of any exchanges - everything is collateralized and build on smart contracts.
With this product, you gain exposure to other cryptos without the need to find a secure wallet or deal with any keys.
In the end, you are going to be better off buying the coins and keeping them in your own wallets - in the future, when the fees come to earth, this is a much easier way to gain exposure to other coins without the risks associated (exchanges, keys, wallets ...)
I tried to create an account at launch, within minutes, and i still have not received an invite. There was few things that I didnt like about this launch. Plus it is cheaper to manage my portfolio myself. It maybe interesting for someone completely new and if the learning curve or trading is too high.
Still haven't gotten mine either.
I am all about the product, the fees are high but it is very much a reputable team making a quality product. I think services like this will be important to this multi-coin future we are headed to.
Love the API they provide. Be careful with Exodus, everything seems okay as of now but their wallet is not entirely open source - a requirement in my book for a wallet.
You are probably fine - just don't keep your millions there.
Great post! I did read about the concept, and I think it is a great idea! No messing around with all these different wallets anymore... But I did not know about these high fees! Wow!
How is this different from Bitshares Smart Coins? Seems like Prism already has a competitor that's been doing the same thing for years.
Great question, I'm not an expert in BTS but I will do my best here. SmartCoins on BitShares are collaterized assets, trading leverage on one end for stability on the other. AFAIK, BTS does not support the same controls that Prism is offering. Only pegged assets like bitUSD and bitGold. Prisms are backed in ETH collateral but can give exposure to portfolios of many different asset combinations.
Also BTS is not Ethereum and the implementation of Prism in the form of smart contracts is much more flexible than BTS
Still sounds like Bitshares. Have you checked into User Issued Assets?
https://bitshares.org/technology/user-issued-assets/
I would say first off, no KYC or anything of the like on Ethereum or Prism. The bitshares model supports stable assets on the blockchain - this is different from prism where portfolios are not stable assets, they simply give the holder exposure to markets other than ETH.
This is very different from what BitShares is offering. Plus it is on Ethereum.
Noob here! Apologies in advance in case I misunderstood the whole thing.
How is this different from simply buying and holding desired cryptos in exchanges and selling 3 weeks later?
Well first off, you do not need to trust the solvency of any exchanges - everything is collateralized and build on smart contracts.
With this product, you gain exposure to other cryptos without the need to find a secure wallet or deal with any keys.
In the end, you are going to be better off buying the coins and keeping them in your own wallets - in the future, when the fees come to earth, this is a much easier way to gain exposure to other coins without the risks associated (exchanges, keys, wallets ...)
Will have to look a little more into this Prism thing.
I tried to create an account at launch, within minutes, and i still have not received an invite. There was few things that I didnt like about this launch. Plus it is cheaper to manage my portfolio myself. It maybe interesting for someone completely new and if the learning curve or trading is too high.
Still haven't gotten mine either.
I am all about the product, the fees are high but it is very much a reputable team making a quality product. I think services like this will be important to this multi-coin future we are headed to.
Yea for sure. ShapeShift is amazing for crypto development. They have been implemented in many products, including my favorite Exodus wallet.
Love the API they provide. Be careful with Exodus, everything seems okay as of now but their wallet is not entirely open source - a requirement in my book for a wallet.
You are probably fine - just don't keep your millions there.
I wish i had millions. Thanks for the heads up.
Great post! I did read about the concept, and I think it is a great idea! No messing around with all these different wallets anymore... But I did not know about these high fees! Wow!
I haven't ever heard about it before reading the post of yours!
Upvoted & Followed you as well.
Nicely stated... I love the world of polychain applications...
I love it! Thanks for sharing :)