In the recent past, we have experienced a paradigm shift from use of traditional or monetary currencies to use of digital currency. The idea is not fu
In the recent past, we have experienced a paradigm shift from use of traditional or monetary currencies to use of digital currency. The idea is not fully embraced and face challenges that can be a limitation to their growth. However, use of digital currency can be made efficient and effective in global markets since it has become borderless. In world today, we have several cryptocurrencies which include Bitcoins, Bitshares, Factom, and Shadow Cash among others. Here we explore Bitshares; its basic information and relation to existing markets.
Bitshares is a decentralised form of payment or exchange which is attached to use of distributed ledger, US Dollar or mined gold. It has the potential to disrupt existing business systems and models. In addition, it’s an open way to new linkages and economic interactions especially in international markets. Centralized exchange has been characterised by mal practices like theft, fraud and abuse. However, use of Bitshares decentralizes exchange thus offering a secure platform. It has a high solvency in almost all markets. It is quick to trade with no hidden charges. Its locations are not biased and provide an equal opportunity to participants.
Bitshares has maintained a high performance in industrial sector by providing a platform for smart contracts and doing away with bureaucracy in block chain. The system uses software which keeps memory, avoids unnecessary computations and locks. This information is stored in a RAM which enables numerous transactions to be done within a short period.
It also provides users with multiple accounts with a dynamic platform to operate their accounts easily. The system has ability to collect multiple signatures and protect them. These permissions allow participants to own and control policies. As a result the system is secure, easy and efficient to users.
Bitshares also provide a platform to make easy withdrawals. This is attained through use of scheduled payments. A user can propose, execute and implement a transaction at a particular time in future. Withdrawal permission provide merchants with an automated system to transact at any given time at an affordable rate.
In conclusion, it is an effective cryptocurrency which is more of an asset than a liability. Listed above are some of characteristics and how it works in markets.