Review on BitShares by Olugbenga Ajayi
Bitshare is an exchange with great dreams
Bitshare is a decentralized cryptocurrency exchange that provides a Platform for cryptocurrency exchange. It is part of Microsoft Azure blockchain created in July, 2014 by Dan Latimer. bitshare is a wonderful cryptocurrency exchange platform that provides more than an exchange value. It has a token known as BTS. BTS is more of a security than a crypto currency since it is acceptable as security or collateral and cannot be mined. Its token are created in bitshare network and then converted to BTS.
I appreciate the security value it added to bblockchain exchange. BTS has bridged the gap between cryptocurrency exchange and traditional financial institution since the value of its assets are pegged to real life asset. For instance BitUSD, BitEur,BitCNY are pegged to the price of USD while Bitgold and Bitsilver are pegged at the current price of gold and silver.With this user of the exchange can maintain their annonymity while trading and this will give rise to it's adoption and facilitate competition with traditional financial institution.
It uses proof of stake verification system with a high profile blockchain technology together with partnership with high ranking organization in blockchain industry.
Pros
- It comply with SEC regulation
- It has approval of regulatory body
- It is very profitable and promising for traders
Cons
- It needs to increase currency traded on its platform
New products
Comments (2)
May 26, 2020
The users of BitShares proof of stake verification system with a high profile blockchain technology together with partnership with high classes organization I blockchain industry.
May 26, 2020
Bitshares objectives is to offer financial services typically offered by banks to end users . Therefore it operates with stable coins such as bitUSD and bitCNY.
Bitshares , blockchain is settling new standards for all kind of financial services. Based on blockchain technology, the platform was developed for the financial industry, and it is open to everyone.
