The flexible ultimate financial ecosystem

As a core payment and clearing system with an integrated digital asset exchange at heart, the platform allows for numberless financial services all of which are connected by one shared ledger.

Features like exchange, transfer, settlement, payment requests and digital asset creation are available through our application programming interface (API).

Plug & Play – The BitShares Blockchain for all kind of financial services

The BitShares Blockchain combines multiple financial service features on a distributed ledger, which can be used by everyone. Right from the beginning, the BitShares Blockchain has been tailored to the needs of the financial industry. On this level, it provides a peer-to-peer network where users can create tokens for various digital assets, transfer them and trade on the shared decentralized asset exchange.

Other than with traditional stock exchanges like NYSE however, there is no need to trust a central authority. Creation, transfer, trade and settlement are individual smart contracts automatically enforced by the blockchain.

BitShares’ core token BTS (bitshares) is traded as a native crypto currency. BTS are required to pay network fees and can be used as collateral for market pegged assets. The blockchain is charging BTS for all operations and executed smart contracts.

The BitShares Blockchain is the first Decentralized Autonomous Company (DAC). Pioneering the industry with the consensus algorithm “delegated proof of stake” (DPoS), BitShares Blockchain is governed directly by elected representatives. Everybody who holds BTS tokens can call their vote in the real-time BitShares Governance.

Outmatching an outdated system – Why the BitShares Blockchain is the answer

The Problem

With the digital revolution on its way, the global payment infrastructure appears to be outdated, slow, inefficient and expensive. As a centralized system, it does not scale to the new development in the field at all.

Traditional financial institutions run private and closed ledgers on disconnected servers in isolated data silos making data exchange, clearing and settlement of assets hard and time-consuming. In the meantime, further pressure is coming from the rapidly growing digital payment industry with a transaction volume of more than $3 trillion USD already.

The old payment infrastructure which was never designed for those dimensions is at the edge of collapse with customers waiting days for bank transfers and paying overpriced fees.

The Solution

This is where the BitShares Blockchain comes in. The blockchain is able to handle more than 3,300 transactions per second. It instantly connects banks, payment providers, digital asset exchanges and corporates over a shared peer-to-peer ledger, with instant transactions and superior fund traceability along the full payment life-cycle. All of this runs without friction and high fees.

Based on the Graphene technology and governed by the consensus algorithm delegated proof of stake (DPoS), the BitShares Blockchain stands for the next generation payment infrastructure.

Everyone can join this global payment network and offer a brand new frictionless experience to their clients. Like the email protocol, with the BitShares Blockchain you can develop unlimited financial services, all connected by a shared ledger – the BitShares Blockchain

Leveraging the latest blockchain technologies, the BitShares Blockchain has been particularly developed for the financial industry to serve as a new financial backbone for the digital economy.

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The driving force behind the BitShares Blockchain

The BitShares Blockchain is powered by the Graphene framework, an open source blockchain implementation which also powers the Steem and EOS blockchains. The Blockchain is using the delegated proof of stake (DPoS) consensus model.

Since the BitShares Blockchain is a decentralized Autonomous Company (DAC), there is no single entity running this Blockchain. The platform is operated and maintained by the BitShares community – an open consortium of individuals and organizations committed to grow the platform and develop new features and services.

Working together, this community has designed and developed the BitShares Blockchain to include numerous innovative features which are not found elsewhere within the blockchain and financial industry.

BitShares Blockchain: thoroughly democratic and autonomous

With the BitShares Blockchain, the users lead the way. As a decentralized system using the delegated proof of stake (DPoS) consensus model, the blockchain allows every shareholder to participate or delegate with his votes in real-time governance events. This way, the network users ultimately decide on the future.

The approach of this stake rated direct democracy is based on the idea that every user should be able to propose and vote on the key parameters of the system and adjust the platform according to the latest needs – every day and around the clock.

Apart from workers, primarily witnesses and the committee, the board of directors, are to be elected. In order to make the process easier a proxy can be chosen who will vote on behalf of a user. Proxy voting enables instant reactions to immediate business concerns.

  • Everyone holding BTS (bitshares) is entitled to vote, either directly or through a proxy, which is a community representative votes can be delegated to.

    1 BTS = 1 vote. All votes are collected via smart contracts, they are fraud proof and recorded in real-time. The BitShares Blockchain presents one of the first full transparent blockchain ecosystems with a people driven governance.

  • The BitShares governance allows users to elect the following parties, either directly or through a proxy:

    Committee: Unpaid members of the community who maintain the key parameters of the BitShares Blockchain

    Witnesses: Paid block producers who create new blocks and validate the Blockchain

    Workers: They propose work for the network which can vote whether the proposal will be accepted or not. Once approved, they get paid from the BitShares Blockchain working budget.

  • All charged network fees are collected and pooled into the working budget smart contract. The working budget holds approx. 1/3 of all available BTS tokens. Its funds are used to pay witnesses for their services and to fund approved worker proposals. In case one or the other looses voting support from the BitShares shareholders, the working budget will stop payments. As a result, every voter has the power to manage spendings at all time.

  • The BitShares Blockchain offers predictable governance allowing the ecosystem to adjust to world events and market demands.

    Users can vote on all kinds of aspects, be it new products, lower platform fees or a higher community consensus over a project, just to name a few.

    All shareholders receive real power over corporates interest by allocating their savings to those who support their beliefs and political agenda.

    Each and every user can directly influence expenses as well as fund projects that help grow the platform, instead of wasting money on unnecessary activities.

Direct blockchain governance with outstanding benefits

Lightning Fast

With a minimum of 3,300 transactions per second settled in less than 3 seconds around the world, trade and settlement merge into one instant action.

Scalable

The BitShares Blockchain can consistently handle 3,300 transactions per second, which is far more power than VISA™ and Mastercard™ combined will ever need.

Distributed

Based on open-source technology and built on the best principles of blockchain, BitShares is a strong growing community.

Stable

BitShares’ three-year track record of stable technology and solid governance makes it ready for institutional and enterprise use.

Innovative

With the BitShares Blockchain anything can be created, transferred or traded. Besides blockchain enforced derivatives, bonds, shares, exchange traded funds and others.

Tokens

The BitShares Blockchain has 6 unique digital assets classes (tokens). 1. Market pegged assets (MPA - Smartcoins) 2. User issued assets (UIA) 3. Exchange backed assets (EBA - Bitcoin on Poloniex) 4. Feedbacked assets (FBA) 5. Privatized Bitassets 6. Prediction market assets

Do you have questions about the BitShares Blockchain?

This website is a community based fanpage about the BitShares Blockchain. Official website is www.bitshares.foundation