1 Level
6 Review
1 Karma
Review on BitShares by ThieT Ngo
Roles of an Exchange The roles that traditional exchanges perform todayβ¦
Roles of an Exchange
The roles that traditional exchanges perform today encompass:
Receiving cryptocurrency and issuing IOUs.
Receiving fiat and issuing IOUs.
Processing an order book.
Redeeming IOUs.
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Pros
- BitShares designs permissions around people, rather than around cryptography, making it easy to use. Every account can be controlled by any weighted combination of other accounts and private keys. This creates a hierarchical structure that reflects how permissions are organized in real life, and makes multi-user control over funds easier than ever. Multi-user control is the single biggest contributor to security, and, when used properly, it can virtually eliminate the risk of theft due to hacking.
Cons
- Waves is way better funded, has more momentum and way better PR than BitShares. Their DEX even if it isn't as good, looks better. So people will naturally go there becasue user experience matters.
