BitShares has features that make it a different cryptocurrency. It is a pegged asset anyone can freely trade. The value traces the value of any fiat currency. While it is similar to other new currencies in many ways, BitShares value is more stable.
Bitcoin and similar cryptocurrencies use transferable digital tokens. All of this is secured by private keys and stored within a decentralized network. Meanwhile, BitShares uses a main token called ‘BitShares’ (BTS).
A BitShares asset is a contract between a buyer looking for stable price and a seller looking for greater exposure to BTS price. The open source software offers a peer-to-peer marketplace for such assets. All transactions are recorded and shared through a main ledger.
BitShares value is determined by the users and the system itself. Nothing has value until any of the users decides to want something. This value creates demand. More demand means more value. More value means more people willing to exchange for it.
Exposure can also affect BitShares value. A large user base attracts more people to get a BitShares wallet. This can all help push the price up and give the new currency a better market to work with.
BitShares enjoyed its peak during its early days. The first few months saw prices up to $0.04. While it supports its own currency; the team also began to develop a transaction network. This can support other virtual transactions and the BitShares value.
Looking at the short-term prices of BTS, it looks like that the market is going for a certain pattern. If this pattern works successfully, users can expect the BitShares value to rise.
With a few announcements from the BitShares team, the currency’s value might just head north from here. Here are some of the notable events for the digital currency:
- Blockplay – A project from the BitShares Munich team. It serves Oktoberfest with Smartcoin enabled mobile Point of sale systems. This includes physical and downloadable systems.
- Bitfinex Hack – BitShares key product that allows users to send and receive payments quickly while retaining ownership of the assets.
- Bitland secures corporate license to land registries in Ghana.
- Peerplays to introduce Sharedrop on Bitshares holders.
- BitShares Smartcoins added to Bitsquare.
These recent developments may just bring the BitShares value up once again. Potential news and innovations and BitShares mining makes it more exciting for those who want to try it out. See and feel the advantages of BitShares.