Bitshares is a decentralized exchange and financial platform built on a blockchain, designed to provide high-speed, low-cost financial services. It utilizes a Blockchain as Organization (BaO) architecture to integrate financial technologies into a transparent and reliable ecosystem.

Overview

Bitshares aims to function as a global financial market infrastructure, enabling decentralized capital formation and trade execution. The platform supports various decentralized financial services, including liquidity pools, order books, swap protocols, and stablecoins. It is developed through a decentralized organization structure involving a community focused around the utility token BTS. The system is designed for scalability and aims to enhance the stability and growth of its users and their communities by managing clearing and financial risks in a decentralized manner. ^[1]

Products and Key Features

The Bitshares platform incorporates several decentralized financial innovations and features designed to enhance user control, security, and market functionality. These features are built directly into the blockchain architecture.

Key features include:

• Dynamic Account Permissions: Accounts are controlled through weighted combinations of multiple private keys, allowing for flexible and efficient security configurations.
• Node Built-in API Interface: The core Bitshares node includes an API, enabling external interfaces to interact with the blockchain without requiring separate software maintenance.
• Open Source Clients: Users can access their accounts via open-source, browser-based wallets where keys are stored locally and transactions are signed client-side.
• Decentralized Exchange (DEX): Facilitates peer-to-peer trading of digital assets directly on the blockchain.
• Decentralized User Issued Asset (UIA): Allows users to create and manage their own digital tokens on the network.
• Decentralized Market Pegged Asset (MPA): Supports the creation of stablecoins and other assets whose value is pegged to external assets like fiat currencies or commodities.
• Decentralized Smart Assets (Smart Contracts): Enables the execution of self-executing contracts with the terms directly written into code.
• Decentralized Finance (DeFi): Provides a suite of decentralized financial services.
• Decentralized Liquidity Pools (LP): Allows users to contribute assets to pools used for automated trading.
• Decentralized Automated Market Maker (AMM): Protocols that enable automated trading based on liquidity pools.
• Decentralized Prediction Market (PM): Supports markets where users can trade on the outcome of future events.
• Decentralized Non-Fungible Token (NFT): Enables the creation and management of unique digital assets.

These features collectively form a comprehensive decentralized financial ecosystem on the Bitshares blockchain. ^[1]

Architecture and Technology

Bitshares is built on a Blockchain as Organization (BaO) architecture, emphasizing the integration of financial technologies directly into the blockchain. The core of the system is the bitshares-core node software. The platform is designed for high transaction speeds and low fees, aiming to provide a performant infrastructure for digital asset trading and management. Security is managed through dynamic account permissions utilizing multi-signature capabilities. The blockchain's design supports scalability to handle a large volume of financial operations. An integrated API allows for seamless interaction between the blockchain and various user interfaces or applications. ^{[1] [2]}

Use Cases

The Bitshares blockchain is designed to support a variety of decentralized financial and asset management use cases. Its features enable the tokenization and trading of different types of assets and the implementation of decentralized financial protocols.

Potential use cases include:

• Company Shares: Tokenizing corporate shares on the blockchain, potentially integrating with regulatory requirements for registration and allowing shares to be used as collateral or within smart assets.
• Event Tickets: Issuing event tickets as user-issued assets, enabling decentralized auctions and secondary markets for tickets, transferring sales risk to speculators.
• Digital Property: Representing software licenses, music licenses, or other digital property rights as transferable tokens, allowing for persistent licensing schemes independent of the original issuer's operational status.
• Liquidity Pools: Facilitating decentralized trading through Automated Market Makers (AMMs) by allowing users to contribute assets to liquidity pools.
• DeFi: Providing a foundation for various decentralized finance applications, including lending, borrowing, and yield farming, often utilizing fully collateralized assets.
• Pegged Assets: Creating price-stable cryptocurrencies (Market Pegged Assets) that are fully collateralized and rely on independent feed producers for price data, securing their value even if the issuer is not operational.

These examples demonstrate the platform's flexibility in handling diverse digital assets and financial activities. ^{[3] [4] [5]}

Additional Programs

Bitshares provides open-source client applications to facilitate user interaction with the blockchain. These include a web-based wallet and a mobile application.

• White Label Web Client: A browser-based wallet that connects to bitshares-core nodes. It operates as a reference wallet where private keys are stored locally in the user's browser, and transactions are signed client-side before broadcasting. ^{[6] [7]}
• White Label Mobile App: An open-source mobile application for interacting with the Bitshares blockchain. It supports account mode and wallet mode registration and login, asset views, transactions, market data (including K-Line charts and transaction history), collateral management, transfers, voting, Automated Market Making, and Liquidity Pools. ^{[8] [9]}

Tokenomics

The native utility token of the Bitshares blockchain is BTS. The token is integral to the operation of the decentralized ecosystem, facilitating transactions, powering smart contracts, and potentially used in governance mechanisms, although specific details on distribution and governance models were not provided in the source material. The token is listed on various cryptocurrency exchanges. ^[1]

Partnerships

Bitshares has established technology partnerships with various entities within the blockchain and digital asset space. These collaborations aim to expand the ecosystem and integrate Bitshares technology into other platforms and services.

Mentioned technology partners include:

• BTWTY
• XBTS
• ioBanker
• Artcasa Gallery

These partnerships represent integrations and collaborations leveraging the Bitshares blockchain. ^[1]

Team

The Bitshares development and operational team comprises individuals with diverse backgrounds in finance, technology, development, marketing, and legal fields. The team emphasizes transparency in its development process.

Notable team members mentioned include:

• Ammar Yousef (Technology Architect)
• Bench (General Engineer)
• litepresence (Technology Analyst)
• Dr. Stefan Schießl (Blockchain Technology Master)
• Dr. Christopher Sanborn (Innovator and Creative Thinker)
• TechnoL0g (Expert in the supernatural the IT)
• Europa (Crypto Goddess)
• Abit More (Blockchain Core Developer)
• Dr. John Conlin (Blockchain Developer and Lawyer)
• iamredbar (Technology Developer)
• Nicholas Burgess (Blockchain Analyst)
• syalon (Blockchain Mobile Core Developer)

The team collectively contributes to the ongoing development and maintenance of the Bitshares blockchain and its associated projects. ^[1]

References

^{[1] [10] [2] [3] [4] [5] [6] [7] [8] [9] [11] [12] [13] [14] [15] [16] [17] [18] [19] [20] [21] [22] [23] [24] [25] [26] [27] [28]}