Bitshares (BTS) is an open-source, blockchain-based cryptocurrency and decentralized asset exchange, which facilitates the trade of cryptocurrencies without the need of a centralized authority. The Bitshares network allows trading through utilizing all of the computers on its network, and allows a user’s funds to be stored locally, without being handed over to an exchange.

The Bitshares platform was founded and launched in July 2014 by Daniel Larimer – co-founder of the Steemit platform. Larimer worked with Ethereum and Cardano co-founder Charles Hoskinson to develop the business plan. The proposal was then taken to Chinese tycoon Li Xiaolai, who agreed to provide the initial funds for the project. Larimer and Hoskinson went on to create Invictus Innovations, which now oversees the project.
Bitshares is a cryptourrency exchange service which does not require fiat currencies to initiate. The mining process uses Proof of Stake, and cuts down on the resource and hardware requirements needed to mine for BTS coins.

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