BITSHARES PRICES JUMP AS MICROSOFT AZURE ACCEPTS BITSHARES

BITSHARES is a cryptocurrency and financial blockchain smart contracts platform. The currency is currently ranked as the 8th largest by market cap, worth around US$23 million at the time of writing.

Despite the project’s interesting advantages, user adoption hasn’t taken off. The cryptocurrency’s price chart had been steadily headed downhill since trading started in July 2014. Today, however, that trend has taken a sharp turn upwards, with news of Microsoft’s Azure Blockchain as a Service (BaaS) platform adding a BitShares template package. The template deploys a BitShares node and a command-line wallet on Ubuntu Linux.

There are only four other blockchain services in Azure’s template manager, putting BitShares alongside Ethereum, Open Assets, Eris, and BitPay’s Bitcore. IT departments around the world wanting to test out a blockchain deployment for themselves will find these five packages among the easiest to evaluate.

It may seem odd for a cryptocurrency to be deployed from the Azure platform, it’s hard to imagine what type of business could need it. However, there are several uses for BitShares, including the ability to issue private crypto-securities.

A finance company could use the Decentralized Exchange (DEX) to make trades, they could issue their own stock or even just a coupon. Anyone in the world could then receive and trade them, just by downloading the open source BitShares wallet.

An upcoming Ethereum project, MakerCoin, has just launched a couple of crypto-securities using the platform. With tradable crypto-assets listed as “MKR” and “DAI” inside the BitShares Decentralised Exchange.

Just prior to being accepted into Azure, there had been a string of other victories for BitShares, any of which could have attributed to today’s rise in the price of the cryptocurrency. The team recently figured out a way to reduce every user’s transaction fees, which have now been dropped substantially. Standard accounts can now transact with a flat rate fee of about four BTS, which is only around 4,500 satoshis. This is a far smaller fee than Bitcoin, as well as the old BTS fee structure.

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