OpenLedger and BitShares: Your Security in Mind

in blockchain •  2 years ago 

NEWS RELEASE

19 April 2017 — (London, England) — The OpenLedger Decentralized Conglomerate (DC), the world’s first blockchain powered conglomerate, is based on BitShares technology, and supports an ecosystem which includes the OpenLedger DEX and OpenLedger’s Crowdfunding (ITO) Services.

As the OpenLedger DC is built on permission based, Bitshares Blockchain MIT Graphene Toolkit Technology, it has many advantages over Bitcoin technology. The BitShares blockchain platform is driven by a consensus mechanism and consists of a network of permission-less nodes networked together in a peer-to-peer (P2P) configuration.

Bitshares vs Bitcoin:

  1. Bitshares (BTS) is an ecosystem where Bitcoin (BTC) is a currency.

  2. BTC is permission-less as is the core currency BTS, yet BTS allows for permissioned based parameters to be set by the platform, such as SmartCoins (StableCoins), market pegged assets (MPA’s), fee backed assets (FBA’s) and user issued assets (UIA’s).

  3. BTS are faster than BTC to conduct transactions (BTS 3800 t/s vs BTC 1 per 10–15 minute)

  4. BTS are a market pegged asset, yet BTC is not. The BTS assets fight the main problem of cryptocurrency — volatility. For example, if you buy 1BIT USD, the value remains the same regardless of BTC movement.

  5. The BTS protocol is much secure than BTC protocol.

OpenLedger DEX vs. Other Exchanges

OpenLedger is a Decentralized Exchange, a peer-to-peer (P2P) platform, meaning your accounts are guarded by thousands of computers, not one centralized one. Other Exchanges are constantly under hacker attack. Wallets are not secure and millions of dollars have been lost in the last few years (Mt.Gox, Bter, Crypsty, and more). Your security is our priority.

SmartCoins can soon be withdrawn directly to cash via OpenLedger all-in-one debit card or money transfer, with Ripple and Paypal options to be added.

  1. Wiring money in the legacy banking system takes days. OpenLedger lets you send money anywhere in the world, within seconds.

  2. No one can freeze, seize, hack or attack your wealth. You are always in control and your identity can never be stolen.

  3. Soon, with the OpenLedger Debit Card, you can spend your money instantly, anywhere major debit cards are accepted. OpenLedger will handle the conversions for you.

  4. Your money goes directly from you to its destination. No middlemen ever get control of your money.

  5. Only those you authorize can see your accounts. Share control of accounts with friends, family, and business associates with complete accountability and flexibility never before available in legacy banking.

As highlighted by tradingview.com, the Bitshares technology platform was chosen as the fuel used by OpenLedger DC ‘because of the many features in its technology such as smart contracts, price-stable currencies, decentralized asset exchange, scalability, dynamic account permissions, recurring and scheduled payments, a referral rewards program for contributing to network growth, regulation-compatible user-issued assets, stakeholder-approved project funding, and transferable named accounts.’

‘They also have a fairly active community and well-funded development. Many of these features could eventually be leveraged to build financial applications for the underbanked in emerging markets that are increasingly being connected to the internet and need an access to fast and cheap ways of sending and storing money on the internet.’

The commitment of OpenLedger to Bitshares is further demonstrated by the recent nomination of Ronny Boesing, Founder and CEO of OpenLedger ApS, onto the Official Bitshares Committee. Inspired by the persistence, drive and passion behind the crypto-pioneers, especially Daniel Larimer, Co-Founder of BitShares and Steemit, Ronny was driven to learn all about cryptocurrency, eventually leading to the creation of the OpenLedger DC.

For more information about OpenLedger DC or Bitshares technology please visit their sites directly.

Media Contact

Siim Ounap/Aviva Pearson

[email protected] / [email protected]

Phone: +372 556 07 289

OpenLedger ApS

Birkevej 15, DK-9490 Pandrup, Denmark

OpenLedger is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Don't forget to join OpenLedger Lab Slack Channel

Follow OpenLedger on socials

OpenLedger Twitter

OpenLedger Facebook

OpenLedger LinkedIn

OpenLedger Youtube

OpenLedger Telegram

OpenLedger SubReddit

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

I love Bitshares and your contributions, but number 2:
"No one can freeze, seize, hack or attack your wealth. You are always in control and your identity can never be stolen." ignores keystroke loggers, and deep state compromised firmware. Crypto may not break out into the mainstream without hardware security devices like the Trezor and Ledger. Please help make that happen. Thanks. Upvoted and resteemed.

We are a fan of the whole BitShares ecosystem and OpenLedger is a big part of that.

One thing that should at a minimum be explained further or at least linked to objective verifiable proof is #5 "The BTS protocol is much secure than BTC protocol."

There probably is a theoretical rational to what would make that statement true, but that statement will do nothing more than discredit everything else. Bitcoin is by far the largest honey pot that hasn't been broken. Until BitShares is responsible for that much value, it should focus on proving it by increasing the value proposition.

Where can I find some media coverage of this potential debit card release? Where's your sources for this? Thanks.

You can find more information in the #Slack group for OpenLedger

Thank you for the article. I have been playing around in the OpenLedger.io platform and really like the coins they have available and its easy on the eyes ;-) Upvoted

very good introductions.thks.

I withdraw Open ETH from BTS network using "test198401" account by OpenLeger , and one month later, didn't receive the ETH in my pocket, and the support team didn't give me feedback for a long time. How can you be trusted?

ok, i got the open ETH. Send comments works here. Even one month later the ETH already drop a lot.

OK, so I'm a little confused here. Should we trade on bitshares.org or OpenLedger.io? What is the difference between the two exchanges?

It is two different entrance point to Bitshares DEX blockchain. All the order books are the same whatever interface you use, but gui is a bit different.

I am having trouble getting the divide or separation bitshares/vs/ openledger.
one addition to open ledger would be a Fiat/ BTC converter . Hard for me to
go to go to coinmarketplace to get the conversion, I love Open Ledger and look forward to them getting more altcoins.