Review on BitShares by Othere Obtentus
Full Decentralization
BitShares is an open source finance network and a decentralized digital currency marketplace. It aims to minimize enough of the danger inherent with centralized exchanges. In the past, users have encountered high-profile breaches of exchanges like Bitgrail, Bitstamp and Coincheck. These events have resulted in multiple clients losing their deposits as a consequence of putting those assets in the custody of third parties.
Apart from centralized markets that often demand fairly detailed personal details from their customers, Bitshares is fast and simple when it comes to creating an account. You do not require share extensive personal details. In fact, you do not need to provide any details. This renders Bitshares rather appealing to those who are careful and aware of privacy, and also makes the application further stable as user data is never kept on the server, particularly on any centralized servers.
Pros
- Decentralized and open source financial platform
- Data is not stored in a centralized server
- No need to provide any personal information
- Scalability
Cons
- A bit complex than other centralized exchanges
