BitShares Asset Review 2023 - Is It Safe?
BitShares Asset (BTS) is a decentralized blockchain-based platform that enables users to trade, store, and manage various digital assets. The BitShares platform was developed by Dan Larimer, who also created other notable blockchain projects such as Steemit and EOS. BitShares is designed to provide a fast, efficient, and decentralized trading platform for digital assets, including cryptocurrencies, stocks, and commodities. In this review, we will analyze the key features of BitShares Asset, including its technology, team, token economics, use cases, and future prospects.
Technology
BitShares is built on a delegated Proof-of-Stake (dPoS) consensus algorithm, which is designed to provide faster transaction speeds and lower fees compared to other blockchain platforms. The dPoS algorithm uses a network of delegates who are responsible for verifying transactions and adding them to the blockchain. The use of dPoS ensures that the BitShares network is fast, efficient, and scalable.
BitShares uses a Graphene blockchain technology, which is a unique technology that allows for the creation of custom digital assets. This makes it possible to create and trade a wide range of digital assets, including cryptocurrencies, stocks, and commodities. The platform also uses a high-performance matching engine that can process up to 100,000 transactions per second.
Team
The BitShares platform was developed by Dan Larimer, who is a well-known figure in the blockchain industry. Larimer is also the founder of Steemit and EOS, which are other notable blockchain projects. The BitShares team consists of experienced developers, marketers, and business experts who are committed to creating a decentralized trading platform that is accessible to everyone.
Token Economics
BitShares Asset has a total supply of 3.6 billion tokens, of which around 2.7 billion tokens are in circulation. The platform uses a Proof-of-Stake (PoS) consensus algorithm, which means that users are rewarded with BTS tokens for holding and staking their tokens. The reward for staking BTS is currently around 3.5% per annum.
BTS tokens are primarily used for trading on the BitShares platform. The platform allows users to trade various digital assets, including cryptocurrencies, stocks, and commodities. BTS can also be used to pay for transaction fees on the BitShares platform. Additionally, BTS can be traded on various cryptocurrency exchanges.
Use Cases
BitShares Asset has a wide range of use cases, including:
Trading: BitShares Asset is primarily used for trading on the BitShares platform. The platform allows users to trade various digital assets, including cryptocurrencies, stocks, and commodities. The platform is fast, efficient, and decentralized, making it an ideal platform for trading.
Decentralized exchange: BitShares is a decentralized exchange, which means that users can trade digital assets without the need for a centralized intermediary. This makes the BitShares platform more secure and transparent than centralized exchanges.
Custom digital assets: BitShares allows for the creation of custom digital assets, which can be used for a wide range of applications. This includes creating cryptocurrencies, stocks, and commodities that can be traded on the BitShares platform.
Stablecoins: BitShares allows for the creation of stablecoins, which are digital assets that are pegged to a stable asset such as the US dollar. Stablecoins can be used as a store of value and a means of exchange.
I failed the verification, I don't know how I could if I don't have the fake I'd or something, didn't get how they work with the traders, just don't let me even try.
Not so popular exchange. I think it's because of the interface, it isn't friendly I think, but I was able to get used to it and I can easily work with that. If they want to attract more attention to the exchange they have to do something with the design.
Just a little bit complicated interface and tricky verification field. Apart from that I don't have the negative. Small platform for a fast operation with coins.
In my opinion, it could be a good choice for experienced users. I like the DPoS thing, it really speeds up the transaction process. I don't know why not many exchanges use it. I think it's awesome feature. I appreciate that but shares provide it.
The main advantages are still the same. The low prices and the US- investors permission. At first glance, the exchange seems a little bit complicated to use, but I found myself easily how to use properly and never face any big issues. A good one.
