Why Bitshares is the most undervalued blockchain in the ecosystem

The Bitshares blockchain is often thought of as only constituting a decentralised exchange (DEX), but this does not do justice to it. In reality, Bitshares is a powerful blockchain with an immense ecosystem and array of projects built on top of it.

The DEX is just one of the many applications and as time goes on more software will be created that operates on and interacts with the blockchain.

Let’s take a look at the wider Bitshares ecosystem and what makes this system the perfect foundation for growing that ecosystem.

The three most prominent applications built by Bitshares are the DEX, DEXBot and Beet.

Anyone can install the bot and it is completely free to use. However, you’re advised to do thorough research into how the trading bot works before you give it free reign over your crypto funds.

The way DEXBot was created shows the decentralised nature of the Bitshares ecosystem: a worker proposal is made and the wider community casts its votes. Beet is currently in BETA stage and is being developed to make that process a lot simpler and straightforward. The project aims to resolve the need to cast votes through the DEX which can be complicated for crypto beginners and as such limits the size of the voter base when new proposals are made.

Besides Bitspark, there are many projects that run on the Bitshares blockchain. Here is a list of some of those projects:

In 2017, Bitspark made the switch to the Bitshares blockchain for a variety of reasons, with one of the key decision makers being the ability to create stablecoins pegged to fiat currencies.

Bitshares allows users to create stablecoins pegged to the value of any type of asset such as Chinese Renminbi, the US Dollar or gold. BitAssets, as the stablecoins are called in the Bitshares ecosystem, are created using the native BTS cryptocurrency and collaterised at a minimum ratio of 1.75 to guarantee stable exchange rates. At any point in time, you can sell one BitUSD for at least 1 USD worth of BTS.

Lastly, underpinning the vast growing Bitshares ecosystem of exchanges, wallets, stablecoins and other projects, is a very capable blockchain. On the Bitshares website, the team states the blockchain handles 3300 transactions per second today, with the potential to scale to 100,000 transactions per second in the future (more than Visa and Mastercard combined). It can handle the volume of the NASDAQ, while transactions get written to the blockchain within 3 seconds, and on average in under 1.5 seconds.

The CUI of Bitshares is only at 0.08% with over a million operations, whereas Bitcoin is struggling at 100% CUI processing 900,000 operations and Ethereum at around 65% processing only 840,000 operations.

All in all, Bitshares is much more impressive than most people realise and the potential for future developments is practically limitless. It is certainly one of the most undervalued blockchains today.

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