What is BitShares?
BitShares , formerly referred to as ProtoShares is a industrial “crypto-equity”, peer to peer distributed ledger and network centered on a Delegated Evidence of Stake (DPoS) algorithm. It was created in 2014 by the well known, Dan Larimer, co-founder of Steemit, EOS and Cryptonomex.
BitShares is dependant on Graphene, an open source C++ blockchain implementation, which acts as a consensus mechanism. Graphene is utilized by other projects like Steemit.com (decentralized Reddit, blog platform), and PeerPlays.com indicating real-world usage.
BitShares operates more being an equity rather than purist “currency” since BTS tokens are employed as collateral for many different decentralized financial services like smart contracts, decentralized exchanges, banking, derivative creation and currency rails.