BitShares (BTS) converter and calculator

What is BitShares (BTS)?

BitShares Blockchain is a platform that allows individuals to participate in free market solutions by harnessing the power of globally decentralized decision making. It is a decentralized open source technology designed to run high-performance financial technology operations and record financial transactions between different accounts. BitShares Blockchain is governed by a decentralized autonomous community that allows its core utility token holders to determine the future direction of the Blockchain. With BitShares Blockchain, entrepreneurs, investors, and developers can leverage the power of consensus technology to coordinate the discovery and aggregation of real-time knowledge, which can be used to allocate resources more efficiently.

Who are the Founders of BitShares (BTS)?

The BitShares Blockchain was launched in 2015 with the goal of creating a decentralized platform for high-performance financial technologies, enabling individuals to have more control over their finances. The platform was co-founded by some of the cryptocurrency industry's biggest names, including Daniel Larimer, a well-respected software engineer and innovator, and Charles Hoskinson, an entrepreneur and mathematician who was one of the original co-founders of Ethereum.

Today, the BitShares core team consists of 17 permanent workers supported by over 60 long-term contributors with expertise in various fields such as economics, legal, systems administration, and highly skilled developers.

How does BitShares (BTS) Work?

BitShares is a revolutionary platform that aims to bring the power of blockchain technology to various industries that rely on the internet to provide their services. Whether it's banking, stock exchanges, lotteries, voting, music, auctions, or any other industry, BitShares' digital public ledger allows for the creation of distributed autonomous companies (DACs) that can provide better quality services at a fraction of the cost of their centralized counterparts. These DACs are run without any human management and under the control of an incorruptible set of business rules, which are encoded in publicly auditable open-source software distributed across the computers of the companies' shareholders. BitShares has done its best to stay on top of blockchain technology and is using consensus as the mechanism by which organized people decide upon unitary rational action. The BitShares ecosystem employs Delegated Proof of Stake to find efficient solutions to distributed consensus decision making.

What is the BTS Token?

The main utility of BitShares Blockchain is its core token, BTS, which serves as the transaction fee for submitting transactions within the Blockchain and is also utilized for development purposes. Holders of BTS have the power to manage and influence the future of BitShares through various built-in decentralized voting functions integrated within the Blockchain. These functions allow for the issuance of utility to developers for their approved worker proposals and the assignment of committee members responsible for maintaining the dynamic parameters of the Blockchain. Additionally, BTS holders can vote for witness nodes, which are responsible for validating live transactions.