Bitshares/EOS Combination? Bitshares 3.0 Going To Change Finance????
There is a great deal of talk about EOS disrupting existing blockchains.
To start, I must say that I am not a believe in blockchains competing. While some offer benefits that others do not, in the end people are establishing businesses on all the blockchains out there. Like any business, some will succeed while others fail. The main reason is people are not interested in using what is being offered. That is what is so exciting about the blockhchain world. We all have the choice to utilize what interests us.
Bitshares is a blockchain that was created with the intention of taking over the financial system. Whereas right now, we see a centralized system that is run by a number of major corporations and exchanges, Bitshares offers an alternative. It is a decentralized exchange that provides a variety of innovative products. Like most blockchains, it is still in its infancy yet growing. Essentially, it offers creative ways of financing for those in need of capital while individuals have new ways of gaining a return.
Bitshares, like STEEM, is the fastest blockchain out there. With the ability to process up to 100K transactions per second with 3 second transaction speed, this is light years ahead of the more well known blockchains like Bitcoin and Ethereum. That said, EOS is rumored to be able to offer virtually unlimited speed. This caused a few token holders of the other blockchains to be concerned, including those with STEEM and Bitshares.
@stan has repeatedly talked about Bitshares 3.0. Basically, that is the combination of Bitshares and EOS operating together. In other words, there would be a mixed chain.
Why would anyone want to do that?
Aside from the increase in functionality, there is a more practical reason for this move.
Bitshares, like all blockchains, was built by those who believe in the "Wild West". The people involved tend to dislike the current system and how it enslaves people. They know the government really is nothing more than a stooge for the major corporations, most notably the banks. Wall Street controls the world with the ability to pump the entire global economy, right up until they crash it.
These people truly want little to do with the mainstream establishment.
Bitshares needs to protect this identity. It needs to offer the privacy that comes with the "go screw yourself" attitude. Getting away from this core is very dangerous since we are only going to see the expansion of this over the next few years.
This creates a problem. How does one take over the financial arena by operating on the outskirts? It cannot. Hence, Bitshares somehow needs to get to the institutional money. That is where the real action is.
Unfortunately, this means operating in an environment where there is regulation. This is the exact opposite of the mindset that created Bitshares (actually cryptocurrency in general). So how to resolve it?
Enter EOS.
EOS is a hybrid network in that it can operate with anonymity while also being able to offer KYC to those institutions that require it. Suddenly, a new market of major money just opened up. Institutions can move aspects of their trading to this blockchain while conforming to the government's regulations. At the same time, people who are involved in some of Bitshare's other products who do not want to be known can still operate in that manner.
This is a much different ambition. EOS is not a threat to Bitshares. Instead, it is an addition to it which will make it even more powerful. While I have no confirmation on this, doing something like this with EOS will give Bithsares the ability to scale to greater speeds if required. Expanding the perspective market for Bitshares can only increase the potential value.
The June release of EOS might not be the death of Bitshares but its birth.
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@taskmaster4450 thanks for the post!
In order EOS could be a new birth to Bitshares there should be a willing of the BTS community to:
I haven't heard of any worker proposals on BTS side in regards to the above (correct me if I'm wrong here).
Actaully Stan has mentioned this in several posts and comments. That he and his developers are working on a Bitshares 3.0, which would create a KYC compliant middle chain between bitshares and EOS, making the bitshares tokens able to move freely around the whole bitshares/EOS multiverse.
And at the same time it should open up for funding from big institutional investors like taskmaster's post suggest. So I think it's safe to assume that bitshares will benefit from the EOS launch.
I can try and find Stan's post about it if you want.
It would be great if you could share it!
In this article he wrote:
"This year, BitShares 3.0 will make all BitShares tokens mobile across the entire EOS multi-chain landscape."
https://steemit.com/bitcoin/@stan/and-i-thought-usa-today-was-shilling-for-bitshares
He also wrote this in a comment to taskmaster a few days ago:
"BitShares 3.0 = BitShares 2.0 + EOS in a TBD Mix"
Wow, looks like my comment was upvoted by @dan , which means it's not as easy as it seems for BTS to gain from EOS launch.
Super congrats on the upvote.
Getting something like that is amazing.
See it pays to comment....
Amen. I would like to introduce you to https://credits.com/en which I think would be another multi-billion dollar project. It doesn't seem as strong as EOS. But it comes close. Credits could mark the end of XRP and even XLM.
I'm also excited for the token airdrops for EOS holders and maybe a better STEEM on EOS.
Assuming you hold some EOS, have you registered your tokens? I haven't done that myself. Would be awesome if you created a tutorial on how to do it. With the launch of EOS in June, which will benefit more in price action, BTS or EOS?
Why would these blockchains need to compete? Is there not enough people in this world that diversify in different manners! Maybe some people won't want to create quality content and will just spend their hard earned money to buy shares in a blockchain. I think there's plenty of room out there, for competition. But right now, and in the future, my time and my passion is in Steem. The friendships built here are more important than power. Preach it Task. 😎
True. There is a lot of room for competition, but only for those who want to compete. It seems like the far majority of us just want to chill out and not worry about who's doing what.
Hmmm. Interesting post. I actually like EOS project. I believe in this team and technology behind the project. I hope they prevail.
Thank you for explaining the subject Bitshares / EOS, good reading
Fantastic new information to me. I am paying big attention to EOS these days!
Hmmm, in theory steem's blockchain can be connected to EOS too then.
From what I can figure out, it looks like any blockchain can...that is why EOS appears so interesting.
It is more of an operating system.....
But I am not 100% certain.
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Good writing.Steem all the way for me. I don't need to diversify with another crypto. Gold, Silver, Steem, and any restaurant that has a dollar menu! Now Iam set. Thanks for sharing this post.
I will waiting for your next post. May God bless you.
😂