1 Level
6 Review
2 Karma
Review on BitShares by Ben Bui
Every Dollar, Euro, bitcoin and ounce of gold held as a SmartCoin on theβ¦
Every Dollar, Euro, bitcoin and ounce of gold held as a SmartCoin on the BitShares exchange is backed by up to twice the reserves of traditional centralized exchanges. The traditional banking system has long practiced what I like to call fictional reserve banking, more commonly known as fractional reserve banking.
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Pros
- The BitShares platform provides a feature known as "user-issued assets" to help facilitate profitable business models for certain types of services. The term refers to a type of custom token registered on the platform, which users can hold and trade within certain restrictions. The creator of such an asset publically names, describes, and distributes its tokens, and can specify customized requirements, such as an approved whitelist of accounts permitted to hold the tokens, or the associated trading and transfer fees.
Cons
- The activity of community is not much. The majority of participants are interested in pricing rather than the underlying
