Stakeholder-Approved Project Funding

 

A self-sustaining funding model

The BitShares blockchain is designed to be self funding and self-sustaining by giving the stakeholders the power to direct where blockchain reserves are spent. The BitShares Blockchain has a reserve pool of 1.2 billion BTS (about $8 million dollars) that automatically grows as transaction fees are collected and the share price rises. Each day, the blockchain is authorized to spend up to 432,000 BTS (about $77,000 per month), which is enough to hire a small team to maintain the network for years, even with no price appreciation.

Income

The network’s ultimate goal is to collect more from transaction fees than it spends through paying witnesses and workers. Committee Members can adjust the transaction fees and referral commission rates to ensure that the network remains sustainable. By charging appropriate fees and distributing the income in an effective manner, the BitShares blockchain can grow, even while others struggle. Members pay fees similar to Bitcoin ($0.04 per transaction), while users pay fees similar to Dwolla ($0.20 per transaction) or centralized exchanges (0.2% of trade volume).

Workers

A worker is an elected position that is paid to fund new blockchain infrastructure. Their employment “smart contract” specifies a start date, an end date, a daily pay rate, and a vesting period for pay received. Each day, a budget totaling 432,000 BTS is allocated to be paid to all workers. The workers are automatically sorted by net shareholder approval and paid in turn until the daily budget runs out.

Each worker can specify a vesting period for funds received. This optional vesting period reassures stakeholders that a proposed worker has a long-term commitment, because it prevents the received funds from being sold immediately.

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.

More info about the latest workers can be found here: http://www.bitshares.foundation/worker/ 

BitShares Technology

New to the BitShares Blockchain? Read more about the BitShares Blockchain core features in the following articles. They have been posted originally at www.BitShares.org

Delegated Proof-of-Stake Consensus

Delegated Proof-of-Stake Consensus   A robust and flexible consensus protocol Delegated Proof of Stake (DPOS) is the fastest, most efficient, most decentralized, and most flexible

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Transferable Named Accounts

Transferable Named Accounts Easy and secure transactions Named accounts enable users to easily remember and communicate their account information. We don’t use IP addresses to

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Stakeholder-Approved Project Funding

Stakeholder-Approved Project Funding   A self-sustaining funding model The BitShares blockchain is designed to be self funding and self-sustaining by giving the stakeholders the power

Read More »

User-Issued Assets

User-Issued Assets   Regulation-compatible cryptoasset issuance The BitShares platform provides a feature known as “user-issued assets” to help facilitate profitable business models for certain types

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Referral Rewards Program

Referral Rewards Program Flexible withdrawal permissions The BitShares blockchain is the first smart contract platform with built-in support for recurring payments and subscription payments. This

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