1 Level
11 Review
16 Karma
Review on BitShares by John Murphy
When you hold BitUSD the value of your holdings will remain pegged to the…
When you hold BitUSD the value of your holdings will remain pegged to the dollar so long as BitShares itself has reasonable volatility. Reasonable volatility in this case means that it can handle greater volatility than Bitcoin has ever seen in its lifetime. The price of BitShares would have to fall to less than 1/3 its starting price in less than 24 hours and then stay there. No legitimate, widely adopted cryptocurrency has ever seen that kind of price movement. This means that BitUSD is secure against just about everything but an unfixable software bug in the BitShares protocol itself.
Pros
- Refund Workers Refund workers are a special worker type that return their pay to the reserve pool. These workers can be elected to prevent spending on other workers, which saves more funds in the reserve pool for future projects.
Cons
- that the performance achieved by BitShares is highly dependent upon having a compatible transaction protocol. It would not be possible to achieve the same level of performance in a protocol where the Core Business Logic is run in a virtual machine that performs cryptographic operations and references all objects with hash identifiers.
