I saw on bitshares that they have open.btc open.eth open.dash and such I just wondered if they are something else or what the open.x means
You are viewing a single comment's thread from:
I saw on bitshares that they have open.btc open.eth open.dash and such I just wondered if they are something else or what the open.x means
OPEN.x are User Issued Assets (UIA) issued by OpenLedger rather than Market Pegged Assets (MPA) that are collateralized with BTS locked by the blockchain. UIAs have counterparty risk since the issuer could potentially have their wallets hacked or run off with the assets themselves. bitBTC is an MPA, so it's collateralized. The tradeoff is that MPAs don't exist yet for a lot of coins, and some of them that do don't have much liquidity. Since UIA issuers can collect trading fees, they're hopefully incentivized to maintain some market liquidity.
Thanks, I still have a lot to learn about this