1 Level
16 Review
36 Karma
Review on BitShares by Hadu KenTiger
Another amazing feature of Bitshares is is scalability and ability to process…
Another amazing feature of Bitshares is is scalability and ability to process transactions. Bitshares is based on an open-source blockchain implementation known as Graphene which acts as a consensus mechanism. Other projects using Graphene include Steemit, and it is claimed to be able to handle 100,000 transactions per second. That’s more than Visa and Mastercard handle, combined. BitShares Exchange has free & open registrations. BitShares Exchange has also desktop App available. 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.
Pros
- In addition to the added security, you’ll find that some of the volatility is removed from cryptocurrency exchange when you’re using Bitshares. This is because the exchange uses something they call SmartCoins as a stable coin. This use shows one of the main differences of Bitshares when compared with many other cryptocurrencies. This cryptocurrency is derived using DPOS. As per the derivative of the proof of stake algorithm, the power rests in the hand of stakeholders making the consensus mechanism purely decentralized.
Cons
- Bitshares could be a leader in decentralized exchanges, but someone will need to lead that charge forward, and with creator Dan Larimer having moved on to the EOS project, there’s no telling who that might be. One of the primary problems being solved by Bitshares is the risk that is inherent in centralized exchanges.
