This Technology Could Make The NYSE Obsolete

BitShares 2.0 is set to come out in September of this year, and BitShares proponents are very excited about it. “It is a game changer in the crypto world,” Max Wright told CCN. As CCN writes:

Some of the capabilities of BitShares 2.0 include, among other things, a Smartchain which can do more than the block chain, according to BitShares 2.0 proponents. For one, this Smartchain can process 100,000 transactions per second compared to the seven transactions per second the Bitcoin network can process, with reliable one second confirmation times, while Bitcoin takes one hour to confirm a transaction. Automatic and regular payments are available on the Smartchain, as is multisig.

There is a lot of potential for BitShares, which serves essentially as Ethereum’s main theoretical competition.

“BitShares is Unique in that is opens up a whole new paradigm of possibilities for the issuance of cryptocurrencies, while finding the proper balance of efficiency, security, scalability and decentralization of control over the networks built using its underlying DPOS protocol,” Ben Keyhotee told CCN.

BitShares 2.0 introduces the smartchain which strives to be the next evolution of the smart chain. The smartchain aims to provide a platform for thousands of chains competing to offer varying services across the globe.  As Keyhotee tells CCN:

When altcoins first began arriving on the scene, it became apparent that many were trying to fill specific niches in the market–to bring cryptocurrency to specific industries and fulfill specific market needs.  From coins with specific features (like Darkcoin and Monero’s attempts to achieve anonymous transactions), to coins with little innovation that were simply banking on using specific brand positioning as coins of choice for certain industries (Sexcoin and Gamecoin come to mind), it was clear that blockchain protocols wanted to be used in multiple areas of society.

What do you think of BitShares/BitShares 2.0? Let us know in the comments…

Justin O’Connell is the founder of GoldSilverBitcoin and also a co-host of Ovoss.fm. He also writes for CCN, Hacked, and works as a marketing and consultant to various online and local businesses.