BitShares (BTS) Reaches One Day Trading Volume of $4.29 Million

BitShares (CURRENCY:BTS) traded down 9.2% against the U.S. dollar during the 1-day period ending at 0:00 AM ET on August 14th. BitShares has a market capitalization of $105.68 million and approximately $4.29 million worth of BitShares was traded on exchanges in the last 24 hours. Over the last week, BitShares has traded down 13.9% against the U.S. dollar. One BitShares coin can now be bought for approximately $0.0386 or 0.00000391 BTC on exchanges including RuDEX, EXX, Tidex and YoBit.

Here’s how similar cryptocurrencies have performed over the last 24 hours:

  • Cardano (ADA) traded 11% lower against the dollar and now trades at $0.0471 or 0.00000477 BTC.
  • Ontology (ONT) traded down 8.2% against the dollar and now trades at $0.79 or 0.00007951 BTC.
  • Qtum (QTUM) traded down 7.9% against the dollar and now trades at $2.43 or 0.00024630 BTC.
  • OmiseGO (OMG) traded down 14% against the dollar and now trades at $1.15 or 0.00011671 BTC.
  • Mixin (XIN) traded down 10.8% against the dollar and now trades at $212.94 or 0.02156635 BTC.
  • Ardor (ARDR) traded 7.7% lower against the dollar and now trades at $0.0527 or 0.00000533 BTC.
  • SounDAC (XSD) traded flat against the dollar and now trades at $2.09 or 0.00018334 BTC.
  • Wanchain (WAN) traded down 11.2% against the dollar and now trades at $0.21 or 0.00002103 BTC.
  • Theta Fuel (TFUEL) traded down 13.1% against the dollar and now trades at $0.0057 or 0.00000058 BTC.
  • Apollo Currency (APL) traded down 11.3% against the dollar and now trades at $0.0014 or 0.00000014 BTC.

BitShares Profile

BitShares (CRYPTO:BTS) is a proof-of-stake (PoS) coin that uses the SHA-512 hashing algorithm. It was first traded on November 5th, 2014. BitShares’ total supply is 2,739,660,000 coins. BitShares’ official message board is bitsharestalk.org. The Reddit community for BitShares is /r/bitshares and the currency’s Github account can be viewed here. BitShares’ official Twitter account is @_bitshares and its Facebook page is accessible here. BitShares’ official website is bitshares.org.

According to CryptoCompare, “Delegated Proof-of-Stake Consensus Delegated Proof of Stake (DPOS) is a new method of securing a crypto-currency’s network. DPOS attempts to solve the problems of both Bitcoin’s traditional Proof of Work system, and the Proof of Stake system of Peercoin and NXT. DPOS implements a layer of technological democracy to offset the negative effects of centralization. Delegated proof of stake mitigates the potential negative impacts of centralization through the use of witnesses (formaly called delegates). A total of N witnesses sign the blocks and are voted on by those using the network with every transaction that gets made. By using a decentralized voting process, DPOS is by design more democratic than comparable systems. Rather than eliminating the need for trust all together, DPOS has safeguards in place the ensure that those trusted with signing blocks on behalf of the network are doing so correctly and without bias. Additionally, each block signed must have a verification that the block before it was signed by a trusted node. DPOS eliminates the need to wait until a certain number of untrusted nodes have verified a transaction before it can be confirmed. This reduced need for confirmation produces an increase in speed of transaction times. By intentionally placing trust with the most trustworthy of potential block signers, as decided by the network, no artificial encumbrance need be imposed to slow down the block signing process. DPOS allows for many more transactions to be included in a block than either proof of work or proof of stake systems. DPOS technology allows cryptocurrency technology to transact at a level where it can compete with the centralized clearinghouses like Visa and Mastercard. Such clearinghouses administer the most popular forms of electronic payment systems in the world. In a delegated proof of stake system centralization still occurs, but it is controlled. Unlike other methods of securing cryptocurrency networks, every client in a DPOS system has the ability to decide who is trusted rather than trust concentrating in the hands of those with the most resources. DPOS allows the network to reap some of the major advantages of centralization, while still maintaining some calculated measure of decentralization. This system is enforced by a fair election process where anyone could potentially become a delegated representative of the majority of users. “

Buying and Selling BitShares

BitShares can be traded on these cryptocurrency exchanges: ZB.COM, EXX, BitShares Asset Exchange, OpenLedger DEX, Gate.io, LBank, HitBTC, CoinTiger, Crex24, Poloniex, Huobi, RuDEX, YoBit, Binance, CryptoBridge, Livecoin, Tidex, CoinEgg, RightBTC, Indodax and BigONE. It is usually not presently possible to purchase alternative cryptocurrencies such as BitShares directly using U.S. dollars. Investors seeking to acquire BitShares should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase BitShares using one of the aforementioned exchanges.

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