Bitshares is considered by Daniel Larimer, an American programmer, and entrepreneur. And the start date is known as July 2014. Bitshares is the name given to a system in which users participate in the system by using their web browsers as a wallet through the internet platform. In this block called platform, each user can be thought of as a song of the system. So it is part of the system, and it is common for things to continue. The next generation can be called a currency and a stock exchange without a centre. At the same time, users can track it on the market and in BitShares (BTS) on the crypto-coin stock exchange. (Read about our cryptocurreny exchange article.)
Bitshares is an excellent platform for cryptocurrencies. One of the most striking features of Bitshares (BST) is the crypto entity. These entities are called virtual money, which each member wishes to produce in time and the desired amount. In short, anyone who enters the Bitshares (BST) system will be able to create his own virtual money in the qualities he wants. An open source network allows all computers on the network to synchronize the data and keep the database in sync with the nodes that make up the blockchain.
By making copies of the BTS database, records are kept on a blockchain where the network can not be changed.
For users, this is the same thing as sending a Blockchain application to your computer and sending a BTC to a person in the Bitcoin wallet with no institution or organization in between. The only difference between this situation and Bitshares is that there will also be swap transactions in addition to transfer transactions. With Bitshares, all kinds of objects can be exchanged.
To give a different example, you can create your own ICO with Bitshares. You may wish to raise funds or distribute dividends on a business you think. All you need to do is create a crypto entity and sell it on the platform. Thus, these crypto entities will be able to cross the underground by exchanging the decentralized stock market, and the project will produce its own cryptocurrency without creating Blockchain.
As a currency, BitShares (BST) represents various assets. It can be used not only as an independent virtual currency but also to represent the US dollar or gold. These assets are represented as BitShares or BTS in order to be processed in the world in the whole world. Once the BTS has been transferred, it can be converted back to the entity represented.
In 2014, Daniel Larimer explained the benefits of using the BTS to represent price currencies shortly after the appearance of BitShares. Explanation: When traditional currencies such as paper dollars or gold are used, transferring from one country to another may be difficult. Physically moving these currencies is costly and takes a lot of time. As a wiser option, banks can be used to transfer funds. But this option takes much longer than the BitShares (BST) transfer and requires a central organization with control over the transferred money.
BitShares (BST) aims to create a different notebook by developing traditional notebook technology. The transparency of the open source code provides full control over the control and balance of users on the network. Traditional books; corruption, human error, or misuse. BitShares (BST) aims to remove these mistakes.
All this depends entirely on the BitShares (BST) community. The community is responsible for the bookkeeping to check the accuracy. Larimer also plans to develop a community that is big enough to remove the need for centralized institutions following BitShares’ movements.
BitShares coin is turning out to be one of the altcoins. Along with the popularity of Bitcoin, which has become so popular recently, altcoins have been able to attract a great deal of attention from users and investors. As time passes by, now everyone, in general, has heard or understood the concept of bitcoin. There is also a cryptocurrency symbol that can be transferred between accounts with BTS name, for network tools, and for wages and a guarantee for creditors.
BitShares (BST) is a publicly open block-based, the real-time financial structure with open source code. For cryptographic currencies, and with the help of an international computer network where no one can be here, it is possible to control all the funds that carry out trading and to change assets without having to rely on any central power and without an integral centre.
BitShares (BST) allows investors or users to exercise transactions on a non-centric currency basis. The traditional crypto-currency exchange is to trust all of its private servers with the intention of concealing, supervising and processing all funds; it is worth noting that there is a history of any theft, as well as a history of being attacked or shut down. Therefore, the cypher can not reach the keys of the cryptocurrency and work on the distributed computer network. This way the durability is increased.
The fact that all the cryptographic currencies in the market are transferred to the Bitshares (BST) network means that there is a direct trade between the investors and the virtual currencies directly on the centrally-controlled stock exchange front. The most important feature of this system compared to the central stock exchange is security and everything is transparent. Because it is secure, there is no data centre where hacker attacks can occur. All the movements are done over the Blockchain. However, possible manipulations with this system are not allowed. So far, many state or government officials have stated that cryptographic money is used by terrorists or criminal organizations. Because of the transparency feature of the Bitshares (BST) system, it is not possible to perform many illegal transactions such as money laundering, drug and arms sales.