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BitShares Achieves Market Cap of $294.93 Million (CRYPTO:BTS)

BitShares (CURRENCY:BTS) traded down 5.6% against the US dollar during the 24 hour period ending at 5:00 AM E.T. on September 3rd. BitShares has a total market cap of $294.93 million and $6.25 million worth of BitShares was traded on exchanges in the last 24 hours. One BitShares coin can now be bought for $0.11 or 0.00001768 BTC on major exchanges including HitBTC, Poloniex, CryptoBridge and OpenLedger DEX. Over the last seven days, BitShares has traded up 9.3% against the US dollar.

Here’s how similar cryptocurrencies have performed over the last 24 hours:

  • Cardano (ADA) traded 7.8% lower against the dollar and now trades at $0.0635 or 0.00001013 BTC.
  • OmiseGO (OMG) traded 6.5% lower against the dollar and now trades at $3.14 or 0.00050058 BTC.
  • Ontology (ONT) traded 7.6% lower against the dollar and now trades at $1.67 or 0.00026685 BTC.
  • Qtum (QTUM) traded 6.1% lower against the dollar and now trades at $3.18 or 0.00050772 BTC.
  • Ardor (ARDR) traded 8.3% lower against the dollar and now trades at $0.0981 or 0.00001564 BTC.
  • Mithril (MITH) traded 7.1% lower against the dollar and now trades at $0.25 or 0.00003943 BTC.
  • Wanchain (WAN) traded down 9.1% against the dollar and now trades at $0.88 or 0.00013998 BTC.
  • Dropil (DROP) traded 4.5% lower against the dollar and now trades at $0.0036 or 0.00000057 BTC.
  • Mixin (XIN) traded 11.3% lower against the dollar and now trades at $125.36 or 0.01998713 BTC.
  • PRIZM (PZM) traded 0.2% lower against the dollar and now trades at $0.50 or 0.00007969 BTC.

About BitShares

BTS is a proof-of-stake (PoS) coin that uses the SHA-512 hashing algorithm. Its launch date was November 5th, 2014. BitShares’ total supply is 2,659,100,000 coins. The Reddit community for BitShares is /r/bitshares and the currency’s Github account can be viewed here. BitShares’ official message board is bitsharestalk.org. The official website for BitShares is bitshares.org. BitShares’ official Twitter account is @_bitshares and its Facebook page is accessible 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

BitShares can be bought or sold on the following cryptocurrency exchanges: HitBTC, CoinTiger, CryptoBridge, BitShares Asset Exchange, Poloniex, Huobi, RuDEX, Livecoin, YoBit, CoinEgg, Crex24, ZB.COM, OpenLedger DEX, LBank, Indodax, RightBTC, EXX, Binance, Tidex, BigONE and Gate.io. It is usually not possible to purchase alternative cryptocurrencies such as BitShares directly using US dollars. Investors seeking to trade BitShares should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase BitShares using one of the exchanges listed above.

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