What is Bitshares?
Bitshares is a relatively new concept in the crypto world and has huge amounts of potential, since it’s launch in 2013. It has taken what Bitcoin does well, and adapted what it has done not so well, to create an altogether better solution. Bitshares has massive potential, given the fact it can do a staggering 10,000 transactions per second, compared with Bitcoin’s 7 transactions per second! This capability puts it on par with International banking standards, and will allow much faster transactions than many other altcoins.
Other differences between Bitshares and Bitcoin lay within the mining process. Bitcoin requires it’s miners to do something called proof of work, whereas Bitshares uses a slightly different concept called proof of stake. Any machine capable of solving the complex puzzles (work) can mine Bitcoin, however with Bitshares and proof of stake, the miners can be voted in and out of the community, and the more stake you have in total, the more voting power you have. This is considered more beneficial by many in the community because if some users aren’t doing the work or pulling their weight, they are simply voted out, meaning all involved parties are solely dedicated to making the system work for the better.
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