Difference between revisions of "BitShares"
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In 2013, the decentralized exchange Bitshares was built, and in 2014 Bitshares was launched. Created by [[Dan Larimer]], it used delegated proof-of-stake giving 3 second confirmation times with very predictable, reliable block production. The first version of Bitshares was built off of some of the same ideas as Bitcoin and shared some technology, but still didn't meet the performance requirements of an exchange. | In 2013, the decentralized exchange Bitshares was built, and in 2014 Bitshares was launched. Created by [[Dan Larimer]], it used delegated proof-of-stake giving 3 second confirmation times with very predictable, reliable block production. The first version of Bitshares was built off of some of the same ideas as Bitcoin and shared some technology, but still didn't meet the performance requirements of an exchange. | ||
| − | In April 2016 a [https://techcrunch.com/2017/04/20/whats-keeping-cryptocurrencies-from-mass-adoption/ TechCrunch] article written by Neil Haran classified that Bitshares used a setup and switch method to attract mass adoption. Similar to the central app strategy, this method establishes a user base first, and then introduces the currency. Bitshares and its array of associated startups is a good example of this. Several networks with varying currencies - [[Steemit]] and their [[STEEM Tokens]], Peerplays and their tokens, for instance — slowly built their user base and value exchange system, and now they plan to adopt a central currency with Bitshares. This allows them to create a stable base first before pooling their resources. | + | In April 2016 a [https://techcrunch.com/2017/04/20/whats-keeping-cryptocurrencies-from-mass-adoption/ TechCrunch] article written by Neil Haran classified that Bitshares used a setup and switch method to attract mass adoption. Similar to the central app strategy, this method establishes a user base first, and then introduces the currency. Bitshares and its array of associated startups is a good example of this. Several networks with varying currencies - [[Steemit]] and their [[STEEM Tokens]], Peerplays and their tokens, for instance — slowly built their user base and value exchange system, and now they plan to adopt a central currency with Bitshares. This allows them to create a stable base first before pooling their resources. ''(1)'' |
| − | In June 2016 [[Dan Larimer]] in his [[Steemit]] blog told that over the past three years he have worked with the BitShares community to implement the worlds first [[Decentralized Autonomous Organization]] based upon many of the same principles as Ethereum's The DAO. Money was raised, tokens were allocated, and token holders were given the ability to vote on how to spend community money and set blockchain parameters. | + | In June 2016 [[Dan Larimer]] in his [[Steemit]] blog told that over the past three years he have worked with the BitShares community to implement the worlds first [[Decentralized Autonomous Organization]] based upon many of the same principles as Ethereum's The DAO. Money was raised, tokens were allocated, and token holders were given the ability to vote on how to spend community money and set blockchain parameters. ''(2)'' |
| − | == Graphene == | + | === Graphene === |
In 2015 [[Graphene]] was created, and Bitshares was completely rewritten. This was able to achieve 100,000 transaction per second on a single machine, and decentralized global stress testing achieved 18,000 transactions per second on a distributed network. Account names were also introduced with Bitshares (advanced hierarchical dynamic threshold multisig), which separated accounts from keys, allowing organizations to be structured and permissions to be delegated to other users. | In 2015 [[Graphene]] was created, and Bitshares was completely rewritten. This was able to achieve 100,000 transaction per second on a single machine, and decentralized global stress testing achieved 18,000 transactions per second on a distributed network. Account names were also introduced with Bitshares (advanced hierarchical dynamic threshold multisig), which separated accounts from keys, allowing organizations to be structured and permissions to be delegated to other users. | ||
| − | == From Bitshares to Steem == | + | === From Bitshares to Steem === |
| − | In 2016 [[Steem]] was launched which had new conceptual issues. Social media users don't want to have to pay for every vote, they need account recovery options, etc... Steem also took the block rewards which are wasted in mining and redistributes them to people who are posting on the [[blockchain]], enabling thousands of people to become active participants through massive decentralization allocation of funds. Steem went from concept in January to working blockchain in March to working website in July. At this point, Steem and Bitshares have more real world transactions occurring every day than the rest of the major blockchains combined. Steem also has a higher female-to-male ratio of users than any other blockchain. However, both Steem and Bitshares are application-specific blockchains. If you want to run multiple apps on the same blockchain, there are significant scalability issues that need to be solved. | + | In 2016 [[Steem]] was launched which had new conceptual issues. Social media users don't want to have to pay for every vote, they need account recovery options, etc... Steem also took the block rewards which are wasted in mining and redistributes them to people who are posting on the [[blockchain]], enabling thousands of people to become active participants through massive decentralization allocation of funds. Steem went from concept in January to working blockchain in March to working website in July. At this point, Steem and Bitshares have more real world transactions occurring every day than the rest of the major blockchains combined. Steem also has a higher female-to-male ratio of users than any other blockchain. However, both Steem and Bitshares are application-specific blockchains. If you want to run multiple apps on the same blockchain, there are significant scalability issues that need to be solved. ''(3)'' |
| − | == BitShares Blockchain Foundation == | + | === BitShares Blockchain Foundation === |
| − | The (Stichting) BitShares Blockchain Foundation is a non-profit organization registered in Deventer, Netherlands. It is operational since June 2016 and has been preparing industries behind the scenes ever since. In July 11th. 2017, after the block production incidente explained below, the website was lauched: http://www.bitshares.foundation The Foundation’s mission is to promote, advocate and grow the BitShares ecosystem to its full potential. | + | The (Stichting) BitShares Blockchain Foundation is a non-profit organization registered in Deventer, Netherlands. It is operational since June 2016 and has been preparing industries behind the scenes ever since. In July 11th. 2017, after the block production incidente explained below, the website was lauched: http://www.bitshares.foundation The Foundation’s mission is to promote, advocate and grow the BitShares ecosystem to its full potential. ''(4)'' |
== Block Production Incident == | == Block Production Incident == | ||
| − | On Monday, July 10th 2017 at 9:00am UTC, an incident occurred on the BitShares network that caused an unplanned interruption of block production. All block producers have been affected by a memory corruption that was caused by an automatic resize of a flat_index container that resulted in an unrecoverable stale state. This has happened for the first time in over two years of blockchain operations. This halting of the network was a first for Bitshares 2.0. The witness team came together and even [[Dan Larimer]] showed up to write a patch, in order to pull together and recover from this issue. After several core developers debugging the code, the cause was identified and a patch was quickly delivered to the block producers. Shortly after that, the blockchain recovered and new blocks have been generated. All transaction that made it into the blockchain prior to this incident are unaltered. | + | On Monday, July 10th 2017 at 9:00am UTC, an incident occurred on the BitShares network that caused an unplanned interruption of block production. All block producers have been affected by a memory corruption that was caused by an automatic resize of a flat_index container that resulted in an unrecoverable stale state. This has happened for the first time in over two years of blockchain operations. This halting of the network was a first for Bitshares 2.0. The witness team came together and even [[Dan Larimer]] showed up to write a patch, in order to pull together and recover from this issue. ''(5)'' After several core developers debugging the code, the cause was identified and a patch was quickly delivered to the block producers. Shortly after that, the blockchain recovered and new blocks have been generated. All transaction that made it into the blockchain prior to this incident are unaltered. ''(6)'' |
| + | |||
| + | ==References== | ||
| + | |||
| + | # [http://bytemaster.github.io/update/2014/12/18/What-is-BitShares/ what is Bitshares?] Written by '''[[Dan Larimer]]''' and published in Bytemaster's Blog in December 12th, 2014. | ||
| + | # [https://steemit.com/crypto-news/@dan/is-the-dao-going-to-be-doa Is The DAO going to be DOA?] Written by '''[[Dan Larimer]]''' (@dan) in June 2016 | ||
| + | # [https://steemit.com/eos/@trogdor/introduction-to-eos-the-epic-blockchain-operating-system Introduction to EOS: the Epic (blockchain) Operating System], Written by '''@trogdor''' in May 29th, 2017 | ||
| + | # http://www.bitshares.foundation '''BitShares Blockchain Foundation''' website, retrieved in July 19th, 2017 | ||
| + | # [https://steemit.com/bitshares/@robrigo/giveaway-bitshares-polo-and-t-shirt-up-for-grabs-to-celebrate-smashing-bugs GIVEAWAY - Bitshares polo and t-shirt up for grabs to celebrate smashing bugs] Written by '''@robrigo''' in July 11th, 2017 | ||
| + | # [https://steemit.com/bitshares/@xeroc/bitshares-block-production-incident-report BitShares Block Production Incident Report] Wriitten by '''@xeroc''' in July 11th, 2017 | ||
==Links== | ==Links== | ||
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* '''BitShares Blockchain Foundation''' : http://www.bitshares.foundation | * '''BitShares Blockchain Foundation''' : http://www.bitshares.foundation | ||
* '''Bitsharestalk Forum''' : https://bitsharestalk.org | * '''Bitsharestalk Forum''' : https://bitsharestalk.org | ||
| − | |||
| − | |||
* '''@ash''' : [https://steemit.com/bitshares/@ash/current-bitshares-testnet-stress-test-highlight-3300tx-14000ops Current BitShares Testnet Stress-test Highlight: 3300TXs 14000OPs] March 2017 | * '''@ash''' : [https://steemit.com/bitshares/@ash/current-bitshares-testnet-stress-test-highlight-3300tx-14000ops Current BitShares Testnet Stress-test Highlight: 3300TXs 14000OPs] March 2017 | ||
* '''@whatsup''' : [https://steemit.com/debate/@whatsup/looking-for-information-is-steemit-without-the-bloggers-bitshares-why-or-why-not Looking for Information - Is SteemIt without the Bloggers = to Bitshares. Why or why not?] March, 2017 | * '''@whatsup''' : [https://steemit.com/debate/@whatsup/looking-for-information-is-steemit-without-the-bloggers-bitshares-why-or-why-not Looking for Information - Is SteemIt without the Bloggers = to Bitshares. Why or why not?] March, 2017 | ||
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* '''@cryptoctopus''' : [https://steemit.com/bitshares/@cryptoctopus/after-almost-2-years-of-losing-faith-in-bitshares-i-m-back I've quit Bitshares for 2 years...why am I back?] March 2017 | * '''@cryptoctopus''' : [https://steemit.com/bitshares/@cryptoctopus/after-almost-2-years-of-losing-faith-in-bitshares-i-m-back I've quit Bitshares for 2 years...why am I back?] March 2017 | ||
* '''@steempower''' : [https://steemit.com/bitshares/@steempower/bitshares-state-of-the-network-14th-march-2017 Bitshares - State of the Network - 14th March 2017] March 14th, 2017 | * '''@steempower''' : [https://steemit.com/bitshares/@steempower/bitshares-state-of-the-network-14th-march-2017 Bitshares - State of the Network - 14th March 2017] March 14th, 2017 | ||
| − | |||
* '''@stan''' : [https://steemit.com/bitshares/@stan/bitshares-to-change-its-own-history BitShares to Change its Own History] May, 2017 | * '''@stan''' : [https://steemit.com/bitshares/@stan/bitshares-to-change-its-own-history BitShares to Change its Own History] May, 2017 | ||
* '''@rok-sivante''' : [https://steemit.com/crypto-news/@rok-sivante/bitshares-and-steem-the-upside-valuation-potential-in-context Bitshares & Steem: The Upside Valuation Potential In Context...] May 25th, 2017 | * '''@rok-sivante''' : [https://steemit.com/crypto-news/@rok-sivante/bitshares-and-steem-the-upside-valuation-potential-in-context Bitshares & Steem: The Upside Valuation Potential In Context...] May 25th, 2017 | ||
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* '''@stan''' : [https://steemit.com/bitshares/@stan/using-bitshares-to-underwrite-risky-asset-backed-currencies Using BitShares to Underwrite Risky Asset Backed Currencies] June 2017 | * '''@stan''' : [https://steemit.com/bitshares/@stan/using-bitshares-to-underwrite-risky-asset-backed-currencies Using BitShares to Underwrite Risky Asset Backed Currencies] June 2017 | ||
* '''@officialfuzzy''' : [https://steemit.com/beyondbitcoin/@officialfuzzy/bitshares-hangout-23-w-chris4210-and-officialfuzzy-2017-06-02 BitShares Hangout #23 w/ @chris4210 & @officialfuzzy! - 2017-06-02] June 2nd, 2017 | * '''@officialfuzzy''' : [https://steemit.com/beyondbitcoin/@officialfuzzy/bitshares-hangout-23-w-chris4210-and-officialfuzzy-2017-06-02 BitShares Hangout #23 w/ @chris4210 & @officialfuzzy! - 2017-06-02] June 2nd, 2017 | ||
| + | * '''@testlump''' : [https://steemit.com/bitshares/@testlump/coffee-on-the-blockchain-a-step-by-step-guide-to-bitshares-and-smartcoins-for-absolute-beginners Coffee on the Blockchain - A Step by Step Guide to Bitshares and SmartCoins for Absolute Beginners] ''July 3rd, 2017'' | ||
* '''@lovejoy''' : [https://steemit.com/interview/@lovejoy/interview-dan-larimer-a-prescient-retrospective-part-1-of-3 (Interview) Dan Larimer - A Prescient Retrospective - Part 1 of 3] ''July 9th, 2017'' | * '''@lovejoy''' : [https://steemit.com/interview/@lovejoy/interview-dan-larimer-a-prescient-retrospective-part-1-of-3 (Interview) Dan Larimer - A Prescient Retrospective - Part 1 of 3] ''July 9th, 2017'' | ||
| − | |||
| − | |||
* '''@xeroc''' : [https://steemit.com/bitshares/@xeroc/bitshares-blockchain-foundation BitShares Blockchain Foundation] ''July 11th, 2017'' | * '''@xeroc''' : [https://steemit.com/bitshares/@xeroc/bitshares-blockchain-foundation BitShares Blockchain Foundation] ''July 11th, 2017'' | ||
* '''@steemitguide''' : [https://steemit.com/steemit/@steemitguide/steem-s-secure-and-free-market-using-bitshares-2-0-decentralized-exchange Steem's secure & free market using Bitshares 2.0 Decentralized Exchange] ''July 13th, 2017'' | * '''@steemitguide''' : [https://steemit.com/steemit/@steemitguide/steem-s-secure-and-free-market-using-bitshares-2-0-decentralized-exchange Steem's secure & free market using Bitshares 2.0 Decentralized Exchange] ''July 13th, 2017'' | ||
| Line 56: | Line 61: | ||
* [[STEEM_Tokens|Steem Tokens]] | * [[STEEM_Tokens|Steem Tokens]] | ||
| − | == | + | ==External links== |
* '''Richtopia''' : [https://richtopia.com/top-lists/top-100-blockchainBitShares Top 100 Blockchain Organisations: From CoinDesk to BitPay, These Are the Most Influential Organisations in the Distributed Ledger Space] ''Written by Darin Cag, retrieved in 6/28/2017 when Bitshares was on position 33'' | * '''Richtopia''' : [https://richtopia.com/top-lists/top-100-blockchainBitShares Top 100 Blockchain Organisations: From CoinDesk to BitPay, These Are the Most Influential Organisations in the Distributed Ledger Space] ''Written by Darin Cag, retrieved in 6/28/2017 when Bitshares was on position 33'' | ||
| Line 62: | Line 67: | ||
* '''The Cointelegraph''' : [https://cointelegraph.com/news/bitshares-101-basics-of-the-worlds-4th-most-popular-cryptocurrency BitShares 101: Basics of the World's 4th Most Popular Cryptocurrency] ''Written by Amanda B. Johnson, published in 4/21/2015'' | * '''The Cointelegraph''' : [https://cointelegraph.com/news/bitshares-101-basics-of-the-worlds-4th-most-popular-cryptocurrency BitShares 101: Basics of the World's 4th Most Popular Cryptocurrency] ''Written by Amanda B. Johnson, published in 4/21/2015'' | ||
* '''CryptoCurrency Convention [[YouTube]] Channel''' : [https://www.youtube.com/watch?v=7mwmlJICyRA BitShares @ CryptoCurrency Convention NYC 4/9/14 - Dan Larimer] ''Video published in 4/18/2014'' | * '''CryptoCurrency Convention [[YouTube]] Channel''' : [https://www.youtube.com/watch?v=7mwmlJICyRA BitShares @ CryptoCurrency Convention NYC 4/9/14 - Dan Larimer] ''Video published in 4/18/2014'' | ||
| + | |||
| + | ==In other languages== | ||
| + | |||
| + | * [[日本語]] (Japanese) : [[Bitshares (jp)]] | ||
<br> | <br> | ||
Revision as of 17:45, 19 July 2017
In 2013, the decentralized exchange Bitshares was built, and in 2014 Bitshares was launched. Created by Dan Larimer, it used delegated proof-of-stake giving 3 second confirmation times with very predictable, reliable block production. The first version of Bitshares was built off of some of the same ideas as Bitcoin and shared some technology, but still didn't meet the performance requirements of an exchange.
In April 2016 a TechCrunch article written by Neil Haran classified that Bitshares used a setup and switch method to attract mass adoption. Similar to the central app strategy, this method establishes a user base first, and then introduces the currency. Bitshares and its array of associated startups is a good example of this. Several networks with varying currencies - Steemit and their STEEM Tokens, Peerplays and their tokens, for instance — slowly built their user base and value exchange system, and now they plan to adopt a central currency with Bitshares. This allows them to create a stable base first before pooling their resources. (1)
In June 2016 Dan Larimer in his Steemit blog told that over the past three years he have worked with the BitShares community to implement the worlds first Decentralized Autonomous Organization based upon many of the same principles as Ethereum's The DAO. Money was raised, tokens were allocated, and token holders were given the ability to vote on how to spend community money and set blockchain parameters. (2)
Contents
Graphene
In 2015 Graphene was created, and Bitshares was completely rewritten. This was able to achieve 100,000 transaction per second on a single machine, and decentralized global stress testing achieved 18,000 transactions per second on a distributed network. Account names were also introduced with Bitshares (advanced hierarchical dynamic threshold multisig), which separated accounts from keys, allowing organizations to be structured and permissions to be delegated to other users.
In 2016 Steem was launched which had new conceptual issues. Social media users don't want to have to pay for every vote, they need account recovery options, etc... Steem also took the block rewards which are wasted in mining and redistributes them to people who are posting on the blockchain, enabling thousands of people to become active participants through massive decentralization allocation of funds. Steem went from concept in January to working blockchain in March to working website in July. At this point, Steem and Bitshares have more real world transactions occurring every day than the rest of the major blockchains combined. Steem also has a higher female-to-male ratio of users than any other blockchain. However, both Steem and Bitshares are application-specific blockchains. If you want to run multiple apps on the same blockchain, there are significant scalability issues that need to be solved. (3)
The (Stichting) BitShares Blockchain Foundation is a non-profit organization registered in Deventer, Netherlands. It is operational since June 2016 and has been preparing industries behind the scenes ever since. In July 11th. 2017, after the block production incidente explained below, the website was lauched: http://www.bitshares.foundation The Foundation’s mission is to promote, advocate and grow the BitShares ecosystem to its full potential. (4)
Block Production Incident
On Monday, July 10th 2017 at 9:00am UTC, an incident occurred on the BitShares network that caused an unplanned interruption of block production. All block producers have been affected by a memory corruption that was caused by an automatic resize of a flat_index container that resulted in an unrecoverable stale state. This has happened for the first time in over two years of blockchain operations. This halting of the network was a first for Bitshares 2.0. The witness team came together and even Dan Larimer showed up to write a patch, in order to pull together and recover from this issue. (5) After several core developers debugging the code, the cause was identified and a patch was quickly delivered to the block producers. Shortly after that, the blockchain recovered and new blocks have been generated. All transaction that made it into the blockchain prior to this incident are unaltered. (6)
References
- what is Bitshares? Written by Dan Larimer and published in Bytemaster's Blog in December 12th, 2014.
- Is The DAO going to be DOA? Written by Dan Larimer (@dan) in June 2016
- Introduction to EOS: the Epic (blockchain) Operating System, Written by @trogdor in May 29th, 2017
- http://www.bitshares.foundation BitShares Blockchain Foundation website, retrieved in July 19th, 2017
- GIVEAWAY - Bitshares polo and t-shirt up for grabs to celebrate smashing bugs Written by @robrigo in July 11th, 2017
- BitShares Block Production Incident Report Wriitten by @xeroc in July 11th, 2017
Links
- Bitshares.org : https://bitshares.org
- Twitter : https://twitter.com/bitshares
- YouTube : https://www.youtube.com/user/bitshares
- BitShares Blockchain Foundation : http://www.bitshares.foundation
- Bitsharestalk Forum : https://bitsharestalk.org
- @ash : Current BitShares Testnet Stress-test Highlight: 3300TXs 14000OPs March 2017
- @whatsup : Looking for Information - Is SteemIt without the Bloggers = to Bitshares. Why or why not? March, 2017
- @oaldamster : Bitshares is superior to any other crypto and therefore so is Steem March 2017
- @cryptoctopus : I've quit Bitshares for 2 years...why am I back? March 2017
- @steempower : Bitshares - State of the Network - 14th March 2017 March 14th, 2017
- @stan : BitShares to Change its Own History May, 2017
- @rok-sivante : Bitshares & Steem: The Upside Valuation Potential In Context... May 25th, 2017
- @karnal : Bitshares: At the crossroads May 30th, 2017
- @kingscrown : Bitshares the older brother of STEEM at All TIme High (Vote for New Exchange to Add it!) June 2017
- @stan : Using BitShares to Underwrite Risky Asset Backed Currencies June 2017
- @officialfuzzy : BitShares Hangout #23 w/ @chris4210 & @officialfuzzy! - 2017-06-02 June 2nd, 2017
- @testlump : Coffee on the Blockchain - A Step by Step Guide to Bitshares and SmartCoins for Absolute Beginners July 3rd, 2017
- @lovejoy : (Interview) Dan Larimer - A Prescient Retrospective - Part 1 of 3 July 9th, 2017
- @xeroc : BitShares Blockchain Foundation July 11th, 2017
- @steemitguide : Steem's secure & free market using Bitshares 2.0 Decentralized Exchange July 13th, 2017
Related articles
External links
- Richtopia : Top 100 Blockchain Organisations: From CoinDesk to BitPay, These Are the Most Influential Organisations in the Distributed Ledger Space Written by Darin Cag, retrieved in 6/28/2017 when Bitshares was on position 33
- TechCrunch : What’s keeping cryptocurrencies from mass adoption? Written by Neil Haran, published in 4/20/2017
- The Cointelegraph : BitShares 101: Basics of the World's 4th Most Popular Cryptocurrency Written by Amanda B. Johnson, published in 4/21/2015
- CryptoCurrency Convention YouTube Channel : BitShares @ CryptoCurrency Convention NYC 4/9/14 - Dan Larimer Video published in 4/18/2014
In other languages
- 日本語 (Japanese) : Bitshares (jp)
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