BitShares

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From Bitshare to Steem

In 2013, the decentralized exchange Bitshares was built, and in 2014 Bitshares was launched. 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 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.


Source :

1. https://steemit.com/eos/@trogdor/introduction-to-eos-the-epic-blockchain-operating-system