Simple explanation on the relation existing between BitShares, OpenLedger and Graphene
I saw a lot of questions lately about it and each time, I see someone trying hardly to answer in a couple of lines in the comment section. It's probably worth a little more time and details !
Let's gather the information so the next time I see someone asking, I'll just send him to this blog and hopefully, you'll do the same ;)
Graphene is the technology behind BitShares (also behind Steem, Peerplay and Muse but let's keep our focus).
It has been created by Dan Larimer and its team during the creation of BitShares 2.0. (Dan Larimer is DanTheMan)
BitShares is the platform running on Graphene and providing all kind of economic tools such as Decentralized Verification, Public P2P Network, Industry-Grade Security, DPOS Consensus, Decentralized Decision Making, Stakeholder-Approved Project Funding, Decentralized Exchange, Counterparty-Risk Free Trading, Integrated Payment Solution, Price-Stable Cryptocurrencies, Referral Program, Prediction Markets, Recurring & Scheduled Payments, ...
If you download the desktop wallet, you'll see the "basic" version of the BitShares graphical interface. In other words, the non-customize version.
This version is open source and can be exploited freely. Anyone who wants to build an exchange can use it and launch its own on the BTS blockchain. The best part, you can use/share the order books of the others exchanges running on BitShares so your new exchange already has volume on the first day ... isn't it amazing ?
Ronny Boesing, big boss of OpenLedger took this opportunity. He used that free code and built its own exchange called OpenLedger at the launch of BitShares 2.0 (October 2015). As you may have seen, both platforms are very similars. Ronny is currently in the process of customising its own exchange so it meets OpenLedger criteria.
Peerplays also jump onto this occasion to build its own exchange called FreedomLedger.
( If I wanted, I could also freely build my very own exchange called GlitterFartLedger ... )
These graphical interfaces may change over time BUT all the operations, trades, accounts, assets, ... on OpenLedger or FreedomLedger are occurring in the BitShares ecosystem. What you do in OpenLedger or FreedomLedger can be seen in the BitShares Blockchain.
I'll end up this quick article with a couple important points !
OpenLedger is not only an exchange, nor Peerplays is only freedomLedger. These two exchanges have been created by entrepreneurs with big plans ... huge plans !!!
Peerplay is building a new Graphene based blockchain aiming the gaming industry ... just that !
Ronny is building so many things around OpenLedger than I have a hard time to follow. If some of you are interested in understanding what is OpenLedger, what are OBITs and how Ronny articulate all its projects around the concept of decentralised conglomerate, I'll gladly write a quick blog on the subject.
Drop a comment and consider it done !
I'll let you guys enjoy the rest of your Tuesday, cheers !
If you enjoyed the reading, consider following me , @GlitterFart
Good information for rookie like me.
I've seen people get interested but having a hard time to grasp the whole thing.
I'm following these projects since early 2015 and it also took me a while to understand it.
Time to share my knowledge ;p
Yep...that's me: "having a hard time to grasp the whole thing."
I am struggling trying to understand it all, I keep reading things like this, to learn more.
Thank you for understanding how hard it is for some people who try hard to learn but are struggling, some just do not realize how difficult it can be. So thank you again for understanding and trying to help.
--
I came to say thanks again for a huge vote and support of a post of mine, it is very much always appreciated and I always try and give thanks.
You are helping me deal with the whole car running me over thing, with all your support and it shall never be forgotten.
Thank you.
I struggle with all the BTS stuff, there is just so much to it. I cannot lie @oldtimer
Just buy and hodl. You'll have time to figure it out later on.
hahaha this is true! good advice, I'd listen @barrydutton
I just saw this. To be honest, I have no idea what bitshares is all about and those openledger. Thanks for the explanation. Meanwhile, I would like to thank you for supporting one of my post then. Thanks a lot.
It's confusing for a lot of people. This is a really good explanation post! I just saw it today as well. Really impressed that it was written two years ago @glitterfart. Haha I'm so behind, I just got brave enough to do my first post expaining it.
I hope you understand better, now, @iyanpol12 ! If you have any questions, you can ask me and I will try to explain anything for you! Bitshares is SUPER undervalued! It's ahead of it's time
Thank you @nomadicsoul. I will check your post regarding it. :)
Cool! Hope it also helps
Great post @glitterfart I learned a lot. This will be useful for my current project, creating a gig website using STEEM as currency. If you are interested check out my post here: https://steemit.com/steemit/@baodog/interest-check-gig-site-using-steem-think-fiverr
I am definitely going to need some help getting this out there to see whether it is something I should invest my time/money into.
Interesting idea indeed.
If you have questions about cryptocurrencies in general, Steem, BitShares or Graphene, I may be able to help.
If you want to get in touch with me, my email is glitterf4rt @ gmail .com
@glitterfart - I am a big fan of Bitshares, have you been following haejin, he has some pretty ambitious price targets for it, hope he is right, it could become a trillion dollar decentralised exchange in the next 5 years.
Good to get the word out about Bitshares!
One of my favourite coins and certainly the one I'm more informed. Trying to share the complicated stuff in a simple way ;p
I struggle with all the BTS stuff, there is just so much to it. I cannot lie @kus-knee
Great work, this is very useful for newbies.
Thanks again jademont !
I see good feedback on these articles, I may follow this path.
Follow n one upvote at @glitterfart
Follow back?
I think I was already following you. Anyway, your name sounds familiar, I'll check your blogs when I get home.
Cheers ;)
Can you explain why getting the lifetime membership on bitshares creates a referral link that starts at the openledger page? I still can't quite wrap my mind around it. So am I using the openledger interface? Is that the one that's available from bitshares.org? And I pay fees to openledger?
The ref link allow you to register ppl in BitShares and earn 80% of hteir fee. You only pay 20% of the normal fee, the rest is giving back to you. The link send ppl to OpenLedger so they can create an account.
Read this news, it may help you. Ask there in the comment where you can read the full explanation on ref link and Life Tiem Member account, I can't find it.
Cheers ^^
#glitterfart ?
Thank you for this glitterfart! Following.
You are very welcome Geke ;)
Got it. Thanks. If you are cointinuing in the series some more explanations to Decentralized Verification, Public P2P Network, Industry-Grade Security, DPOS Consensus, Decentralized Decision Making, Stakeholder-Approved Project Funding, Decentralized Exchange, Counterparty-Risk Free Trading, Integrated Payment Solution, Price-Stable Cryptocurrencies, Referral Program, Prediction Markets, Recurring & Scheduled Payments would help or a link to other posts that explain it.
I was thinking about explaining the DPOS Consensus which is the very heart of BitShares.
Would another one make more sense to you ?