Each and every cryptocurrency has different benefits. That is why, when you’re thinking of investing in any cryptocurrency, you have to 1st look at the benefits and thereafter you have to take a call. Similarly, when you are thinking of investing in Bitshares as well, you have to 1st look into the fundamentals and thereafter you have to make a decision. Bitshares is currently valued in the top 40 cryptocurrencies. That is why it is certainly not just any other cryptocurrency. However, we will now go into the fundamentals in order to help you better understand Bitshares.
Don Larimer designed Bitshares in the year 2014. He is also the co-founder of EOS. Bitshares has been inspired by Graphene. Graphene is open source blockchain which uses the C++ programming language. This particular blockchain technology is used by various ICO’s as well as gaming applications as well. Graphene has created a highly efficient blockchain. This is one of the main reasons why this cryptocurrency has become so popular. Bitshares gets its high scalability from this particular blockchain only. It is capable of handling up to 10,000 transactions each and every 2nd. As a result, scalability is not an issue when it comes to Bitshares.
Proof of stake algorithm:
When you look into the algorithm which is powering the blockchain of Bitshares, you will realize that it works on proof of stake. This is beneficial for the long-term working of Bitshares. This also means that working of this algorithm is easier. In addition to that, it is easier for Bitshares to allow the usage of its blockchain for various different applications.
Due to the type of blockchain which is powering Bitshares, it can also be used to create decentralized exchanges. With the help of decentralized exchanges, it will be easier to trade as well. Moreover, the fees will be on the lower side. Moreover, traders will be able to trade in real-time which will ensure that the order execution is not a problem as well. Also, real-world assets like US dollars can be easily transacted with the help of this blockchain as well. As a result, it will be easier to create such blockchain-based decentralized exchanges and run them as well. This is the reason why you should definitely look at Bitshares as it is a blockchain which is significantly advanced as compared to some of its peers.