Bitshares is a cryptocurrency much like Bitcoin, Ethereum, Neo and many others in some ways but in other ways it boasts technology that is far more advanced than it’s competitors. In this article I will discuss some of Bitshares biggest strengths in terms of features and functionality. In addition its important to note that Steemit and Steem were created by the same developer and boast similar technology to Bitshares especially in the most important metric, TPS.
1.) Smartcoins set Bitshares apart from other cryptocurrencies.
A smartcoin is a cryptocurrency or token which has value which is pegged to another asset such as the USD or Gold.
SmartCoins always have 100% or more of their value backed by the BitShares core currency. The currency I am referring to is BTS.
In simple terms it means they have coins that have a steady value. This is a game changer for BTS because no other cryptocurrencies can offer this stability at this time.
2.) Decentralized Asset Exchange.
The Bitshares platform is the only cryptocurrency that I know of at this time that has it’s own decentralized cryptocurrency exchange.
This platform allows users to trade cryptocurrencies in a decentralized manner which many prefer over traditional exchanges such as Poloniex or Bittrex. You can visit the exchange and see for yourself at the following link: https://openledger.io/
This is what Bitshares had to say about their exchange:
'BitShares provides a high-performance decentralized exchange, with all the features you would expect in a trading platform.
It can handle the trading volume of the NASDAQ, while settling orders the second you submit them. With this kind of performance on a decentralized exchange, who needs risky centralized exchanges?'
If you’d like to learn more about this exchange, I highly recommend an article written by 
3.) Industrial Performance and Scalability
Here is where Bitshares really shines in my opinion. The Bitshares system uses a blockchain technology called 'Graphene' which is capable of 100,000 TPS (transactions per second) assuming the network has been allocated enough resources.
Blockchain technology is still in it's infancy. There is a lot of work to be done but also a lot of the problems that Bitcoin is now facing other, newer coins have already solved. The fact that the Bitshares network can process 100,000TPS is huge and should not be overlooked. The speed at which a network operates will affect how many people feel confident in using it. With more confidence and speedier transactions, mass adoption isn't just likely it's probable.
Here’s a very informative chart comparing some of the top cryptocurrencies and their technological features:
Notice that the ‘block target time’ varies quite a bit between cryptocurrencies. This metric looks at the speed it takes to complete a transaction. Bitcoin, the first cryptocurrency takes 10 minutes to finish a single block as opposed to Bitshares which only takes 2 seconds.
In terms of speed, Bitshares completely blows Bitcoin and all the other cryptocurrencies except for Steem (because they were made by the same developer) out of the water.
According to Wikipedia:
'VISA handles on average around 2,000 transactions per second (tps), so call it a daily peak rate of 4,000 tps. It has a peak capacity of around 56,000 transactions per second, [1] however they never actually use more than about a third of this even during peak shopping periods. [ 2]May 12, 2017'
So Bitshares has developed a blockchain that can handle almost twice as many transactions per second as Visa. This has completely blown my mind.
Techblogger Wrap Up
Cryptocurrencies are advancing at break neck speed and the developments in blockchain we will see in the coming decades will be nothing short of extraordinary. The features that impress me about Bitshares is the platforms integration of ‘Smartcoins,’ the platform’s industrial performance and scalability, Bitshares Openledger DEX and the impressive speed the platform is able to process transactions with.
At this point, I must disclose that I have made a modest investment in Bitshares and Steem and expect my investment to appreciate significantly in the coming years. If investors are looking for serious alternatives to Ethereum and Bitcoin they may benefit from doing some in-depth research into Bitshares.
If you’ve found this article interesting and have something you’d like to contribute, please leave thoughts and comments below.
Thanks for reading!
Sources:
Bitshares, Smartcoins and Industrial Scalability Study -
VISA – Wikipediabitcoin cryptocurrency bitshares beyondbitcoin steemit
