Funny how so many people think that crypto is limited to only one application. The ideal design for an autonomous cryptocurrency does not necessarily apply to other business applications, including private applications which have no need to be decentralized at all. One should avoid imposing a one-size-fits-all set of requirements on every use of the blockchain. That's way to limiting to its potential and will cause you to miss out on many opportunities to provide the world with something new and useful.
We agree that the application level has huge potential. BitShares is a real-time platform with a built in decentralized exchange (DEX) as it's first app which also serves as important support infrastructure for many other applications by us and others. Think of the DEX as an anchor store at a mall where we plan to add and attract other businesses over time. The platform gets a small share of the fees from each business in exchange for providing and infrastructure and ecosystem that accelerates the time to market for new businesses.
That DEX has a variety of products including Market Pegged Assets (MPA), User Issued Assets (UIA), and Fee Backed Assets (FBA). But BitShares is not defined by any particular single business or business product.
BitShares meets all our threshold design objectives for a practical engineering solution to a secure self-governing real-time blockchain. We expect to continue evolution of our free public domain software, but this was not a reason to delay releasing it to the public for others to start building a user base and providing useful services. It has run for 18 months in two generations without any serious problems. It is blazing fast, scalable to 1 second transactions and 100,000 transactions per second (when eventually needed), and completely controlled by its token owners proportional to their stake in the system.
We understand that others may have other design criteria, for other applications.
So do we.
We agree that the application level has huge potential. BitShares is a real-time platform with a built in decentralized exchange (DEX) as it's first app which also serves as important support infrastructure for many other applications by us and others. Think of the DEX as an anchor store at a mall where we plan to add and attract other businesses over time. The platform gets a small share of the fees from each business in exchange for providing and infrastructure and ecosystem that accelerates the time to market for new businesses.
That DEX has a variety of products including Market Pegged Assets (MPA), User Issued Assets (UIA), and Fee Backed Assets (FBA). But BitShares is not defined by any particular single business or business product.
BitShares meets all our threshold design objectives for a practical engineering solution to a secure self-governing real-time blockchain. We expect to continue evolution of our free public domain software, but this was not a reason to delay releasing it to the public for others to start building a user base and providing useful services. It has run for 18 months in two generations without any serious problems. It is blazing fast, scalable to 1 second transactions and 100,000 transactions per second (when eventually needed), and completely controlled by its token owners proportional to their stake in the system.
We understand that others may have other design criteria, for other applications.
So do we.