Question 1

What is BitShares?

Accepted Answer

BitShares is a blockchain-based platform that uses distributed consensus technology to create decentralized autonomous companies (DACs) that provide better quality services at a lower cost. BitShares aims to extend the innovation of the blockchain to all industries that rely on the internet to provide their services.

BitShares was originally launched under the name of ProtoShares (PTS); it was later renamed to BitShares (BTS) and "reloaded" in November 2014 by merging several products into BitShares (BTS).

Question 2

Who Created BitShares?

Accepted Answer

BitShares (BTS) was first introduced in a White Paper titled “A Peer-to-Peer Polymorphic Digital Asset Exchange” by Daniel Larimer, Charles Hoskinson, and Stan Larimer. The project was founded by Daniel Larimer of Invictus Innovations after receiving funding from Chinese venture capital firm BitFund.PE. Charles Hoskinson, founder of the Bitcoin Education Project, was a co-founder of the original project but has since left the team.

Question 3

How Do You Use BitShares?

Accepted Answer

BitShares can be used to create decentralized autonomous companies (DACs) that provide a variety of services, including banking, stock exchanges, lotteries, voting, music, auctions, and others. Users can participate in these DACs by becoming shareholders and securing the company through their computers. BitShares also has its own token, BTS, which is used to participate in the platform and its services.