BitShares Achieves Market Cap of $35.65 Million (BTS)

BitShares (BTS) traded 1.4% lower against the US dollar during the twenty-four hour period ending at 16:00 PM E.T. on May 14th. One BitShares coin can now be bought for about $0.0119 or 0.00000041 BTC on popular exchanges. BitShares has a total market capitalization of $35.65 million and $4.12 million worth of BitShares was traded on exchanges in the last day. During the last week, BitShares has traded down 35.6% against the US dollar.

Here is how similar cryptocurrencies have performed during the last day:

  • Kcash (KCASH) traded down 0.4% against the dollar and now trades at $0.0010 or 0.00000003 BTC.
  • Arionum (ARO) traded 0.3% higher against the dollar and now trades at $0.0002 or 0.00000001 BTC.
  • Odin Platform (ODN) traded 0.6% higher against the dollar and now trades at $0.0024 or 0.00000008 BTC.
  • Bat True Share (BTS) traded flat against the dollar and now trades at $29.60 or 0.00044332 BTC.
  • Bolt Share (BTS) traded 2.1% lower against the dollar and now trades at $4.15 or 0.00008745 BTC.

BitShares Coin Profile

BitShares (CRYPTO:BTS) is a proof-of-stake (PoS) coin that uses the SHA-512 hashing algorithm. Its genesis date was July 19th, 2014. BitShares’ total supply is 2,994,590,000 coins. BitShares’ official message board is bitsharestalk.org. BitShares’ official Twitter account is @_bitshares and its Facebook page is accessible here. BitShares’ official website is bitshares.org. The Reddit community for BitShares is /r/bitshares and the currency’s Github account can be viewed here.

According to CryptoCompare, “Delegated Proof-of-Stake Consensus Delegated Proof of Stake (DPOS) is a new method of securing a crypto-currency’s network. DPOS attempts to solve the problems of both Bitcoin’s traditional Proof of Work system, and the Proof of Stake system of Peercoin and NXT. DPOS implements a layer of technological democracy to offset the negative effects of centralization. Delegated proof of stake mitigates the potential negative impacts of centralization through the use of witnesses (formaly called delegates). A total of N witnesses sign the blocks and are voted on by those using the network with every transaction that gets made. By using a decentralized voting process, DPOS is by design more democratic than comparable systems. Rather than eliminating the need for trust all together, DPOS has safeguards in place the ensure that those trusted with signing blocks on behalf of the network are doing so correctly and without bias. Additionally, each block signed must have a verification that the block before it was signed by a trusted node. DPOS eliminates the need to wait until a certain number of untrusted nodes have verified a transaction before it can be confirmed. This reduced need for confirmation produces an increase in speed of transaction times. By intentionally placing trust with the most trustworthy of potential block signers, as decided by the network, no artificial encumbrance need be imposed to slow down the block signing process. DPOS allows for many more transactions to be included in a block than either proof of work or proof of stake systems. DPOS technology allows cryptocurrency technology to transact at a level where it can compete with the centralized clearinghouses like Visa and Mastercard. Such clearinghouses administer the most popular forms of electronic payment systems in the world. In a delegated proof of stake system centralization still occurs, but it is controlled. Unlike other methods of securing cryptocurrency networks, every client in a DPOS system has the ability to decide who is trusted rather than trust concentrating in the hands of those with the most resources. DPOS allows the network to reap some of the major advantages of centralization, while still maintaining some calculated measure of decentralization. This system is enforced by a fair election process where anyone could potentially become a delegated representative of the majority of users. “

Buying and Selling BitShares

It is usually not possible to buy alternative cryptocurrencies such as BitShares directly using U.S. dollars. Investors seeking to trade BitShares should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy BitShares using one of the exchanges listed above.

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