Financial NewsBitShares presents dBTS

BitShares presents dBTS

True meaning of PEG and Synth in an ERC-20 token

Sattahip, Thailand, 16 Aug 2021, ZEXPRWIRE, BitShares presents dBTS, an ERC-20 token compatible on Ethereum platform, pegged 1-1 with the real BTS core token of BitShares.

Those of you familiar with the parable of the tortoise and the hare may already get the logo. ‘dBTS’ stands for ‘Decelerated BitShares, because as soon as $BTS tokens move from their native tech, it becomes much slower. Hence ‘decelerated’ and a turtle-like logo for ‘d’. 

Authors of the project were Henry Woo (Ethereum developer), Milos (DL) Preocanin (BitShares architect), and it was deployed by Long Jie (BitShares JS Developer). Quote from the architect, Milos: 

“Since people started going crazy about ‘wrapped’ BTC which has its own price, demonstrates nothing even close to what we consider PEG around BitShares, or the line of ‘synths’ by new tech startups… BitShares invented MPA’s with oracles more than 5 years ago, so it’s time to show the markets the real meaning of an Asset Peg and how Bitshares does it.” 

The decision was clear that BitShares needed to enter the wider ecosystems of crypto Pegs in order to show their credentials. The dBTS token is also a strong demonstration of the efficiency and speed the platform offers. 

TX cost per swap within Bitshares blockchain: ~ $0.10 (Basic account) TimeToComplete: 3 seconds fixed

TX cost per swap within Ethereum blockchain: ~ $18-$198 (Uniswap, Metamask) TimeToComplete: ~ 3 minutes

Background

BitShares BTS core token has been invited to participate on other markets and token economies in the past. The limitation was always they’re using ERC-20 protocol, which meant BTS was incompatible. So BitShares presents dBTS to become an ERC-20 instead and appear across the Ethereum based dApps and marketplaces.

Created in July 2014, BitShares is the oldest and first blockchain to introduce several concepts that are now becoming commonplace. These included Delegated Proof of Stake (replaces mining), readable account names, stable-coins, a wallet interface, and built-in exchange. Additionally it has a highly flexible array of business-logic features for managing budgets, payments, accounts, and lots more. The blockchain cryptography and autonomy also enables secure approvals and a transparent voting system. Together the platform features open many possibilities for business and industry applications. For more of the essentials on BitShares, see the main website at https://bitshares.org/ 

More Exposure

As previously mentioned, dBTS exposes BTS to all the ERC-20 markets, and with it their interest and liquidity. You could also call it ‘gorilla marketing’ as this represents a vast avenue for BitShares to be discovered. ERC-20 is the Ethereum platform format used by a huge number of crypto token projects. Another key point is dBTS ERC-20 provides anyone with $ETH a very convenient entry/exit point to the BitShares platform. Once others discover BitShares is offering such low fees and high speeds, more awareness will follow. 

ERC20 Characteristics and details:

Capped, Mintable, Burnable, Pausable.

OWNER/MINTER ADDRESS: 0xb4a19FA2196519641959c2Dd316daBe667F3fBd0

TOKEN CONTRACT ADDRESS: 0x58e27acd119a13bb41c795b9362b6c6dd39e0f3b

Precision: 5 decimals

Max mintable supply: 3,600,570,502.00000 dBTS

Initial Supply: 20,000.00000 dBTS

dBTS ERC20 contract is subject to copyright of BitShares non-profit organization

Move Institute, Slovenia (bitshares.org & EU Trademark)

dBTS ERC20 official and ONLY corporate Partner/representative is

BitShares Management Group Co., LTD. Thailand

Conclusion

Decelerated BitShares makes possible all kinds of integration between BitShares and Ethereum network dApps, ERC-20 token economies and exchanges.

BitShares blockchain goes from strength to strength with this addition. The team has also been busy launching a StakeBTS program, BitShares NFTs, a new Forum, and overhauling websites all whilst launching new companies to transform themselves into an international corporation that BitShares deserves to be. 

BitShares have big goals since 2020 for regulatory approval and growth of the brand. Once almost becoming a ‘Dark DAO’, BitShares are turning things around by introducing a layer of centralization and establishing a corporate presence. Now with a big cleanup undertaken and proper management, BitShares – the original DPoS project – is starting to emerge. See also https://bitsharesmanagement.group/

Media Contact

Website- BitShares.org

Email- [email protected]

Telegram- BitShares

Twitter- Bitshares

PR Contact

Name- Sourav Ghosal

Website- News Coverage Agency

Email- [email protected]

Telegram- Sourav Ghosal

The post BitShares presents dBTS appeared first on Zex PR Wire.

Latest news

ShipFinex: A Real-World Asset Tokenization Protocol Now Regional Champions of Startup World Cup Pitch Competition

Dubai, UAE, Nov 15, 2022, ZEXPRWIRE, One of the most promising properties of blockchain has been the ability to...

The world’s largest online general merchandiser DollarStore, will start accepting Oduwacoin in their online U.S flagship Store.

“The official cryptocurrency of the  Dollarstore.” Beverly Hills, California, Nov 14, 2022, ZEXPRWIRE, An incredible milestone for the Oduwa community;...

Gulf Xellence to Host World ESG Summit in Dubai, UAE, 21st-23rd February 2023

THE WORLD ENVIRONMENT, SOCIAL & GOVERNANCE SUMMIT “Leading the future through Environmentally Sustainable Growth”Dubai, UAE, Nov 7, 2022, ZEXPRWIRE,...

Chairperson IFSCA delivers a Keynote address on “Policy Dialogue -Directing ESG  Governance for the Financial Industry “at Singapore Fintech Festival 2022

Chairperson International Financial Services Centers Authority Injeti Srinivas was invited to deliver a keynote address on “ Policy Dialogue...

LedgerFi Appoints Dr Abdulrahmaan Al Ansaari as Chairman of the Board

Dubai, UAE, Nov 4, 2022, ZEXPRWIRE, LedgerFi IT Solutions, a Dubai-based web3 and blockchain company announced the appointment of...

ZoidPay to Revolutionize the Web 3.0 Landscape with $75M Investment Commitment from GEM Digital

A $75M financial commitment is set to establish ZoidPay as the go-to open architecture for building the next generation...

Must read

USD 19,500, the new key price of bitcoin to start an upward movement

Key facts: In the past, $19,500 has been a resistance...

Blockchain IDOs and Presales You Should Know About

There’s never a lack of new projects opportunities when...

The 10 rules to prepare for the crypto bear market by the savvy investor

While the Bitcoin and cryptocurrency market reached a record capitalization in...

Latin America’s E-commerce Giant Opens Up To Buying Bitcoin

Bitcoin (BTC) and cryptocurrencies are increasingly accepted every day for...

Binance Welcomes Arbitrum – Ethereum’s Second Layer!

For many months, the Ethereum (ETH) network has faced...

You might also like
Recommended to you