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Overview of BitShares

BitShares aims to expand the idea of block chain to all companies that depend on the internet to provide their services.

Bitshares consensus system is based on C++ implemented blockchain called Graphene and their tokens will be of equity than traditional currencies since it will be used as collateral for all the decentralized services which the platform facilitates. It will also use a DPOS consensus mechanism which makes it possible for each block to be formed every 1.5 seconds resulting in an amazing through put of 100K transactions per second.

These companies of all types make use of a digital public ledger. This allows for the creation of distributed autonomous companies (or DACs) that give better quality services at a relatively small cost compared to that incurred by their more traditional, centralized counterparts. Bitshares issue what is called smart coins whose value is backed by BTS.

Founder: Dan Larimer
Release Date: 2013

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