12 October 2017 1:12 pm
The cryptocurrency market is unique and complex, making investment choices difficult. By using a checklist of criteria as outlined in the video, we can identify quality investments. One project that meets all of the requirements of a great investment is BitShares. Let’s test BitShares against this check list and see how it stacks up!
1. Do they have a good website with all of the relevant investor information?
BitShares.org clearly displays the most important features offered by the platform and also provides very detailed technical information about how the whole ecosystem functions. The website links to an extensive list of supplemental resources and the active online communities are listed.
2. Is there a good team behind the project, with experienced and trusted developers?
BitShares was developed by Daniel Larimer. Larimer has been involved with several high profile crypto projects including the co-founding of the blockchain based social media site steemit.
Larimer most recently launched the highly anticipated EOS project. All of these projects are built on the same advanced Graphene Blockchain Technology which is capable of processing over 100,000 transactions per second with an average confirmation time of less than 1 second.
3. Do they have a well written whitepaper that clearly explains the project?
BitShares offers three detailed whitepapers including
4. Is it open source and are there active improvements on GitHub?
BitShares has a GitHub with updates being posted regularly.
5. How active are they on social media? Do they have an enthusiastic online community?
BitShares has several online communities including twitter and reddit. BitShares also has an active forum, however there is a very active and lively community on Steemit. “BitShares Hangouts” are posted often, updating investors and BitShares advocates of all the most important news.
6. How will the funds be allocated?
BitShares uses a self-sustaining funding model.
“BitShares is designed to be self-funding and self-sustaining by giving the stakeholders the power to direct where blockchain reserves are spent. BitShares has a reserve pool of 1.2 billion BTS (about $8 million dollars) that automatically grows as transaction fees are collected and the share price rises. Each day, the blockchain is authorized to spend up to 432,000 BTS (about $77,000 per month), which is enough to hire a small team to maintain the network for years, even with no price appreciation.”
7. How is the token structured? Look at things like total supply.
BitShares allows for the creation of smart coins and user issued assets but it also has its own core currency, BitShares (BTS). BTS derives its value from the demand for BitShares services. BTS acts as a form of collateral and helps ensure the liquidity of Market Pegged Assets.
BitShares does not have a fixed supply like Bitcoin and the current circulating supply is around 2,599,040,000 BTS.
8. How is the investment structured? Will there be a presale, what is the price of the token?
BitShares tokens were originally distributed 1:1 when BitShares 1.0 migrated to BitShares 2.0.
9. What is the community sentiment? Are people excited about and happy with the development process?
There is a lot of excitement surrounding BitShares and the Decentralized Exchange. Several businesses have announced they will be building on the BitShares platform and the Billion Hero Campaign is generating a lot of interest.
The HERO is a mathematically defined asset designed to appreciate annually by five percent (5%). This means an investment of $1000 should net you, by definition, a return of $1050 after one year. The HERO is built on and trades on the BitShares platform. Currently the Billion Hero Campaign is raising $1 billion for charity! https://billionherocampaign.com/
10. Does the project have a clear use case, that will have market demand?
If there is one criticism to make about BitShares, it is that it has too many uses! That is a great problem to have. BitShares first and foremost is a fast and efficient blockchain capable of 100,000 transactions per second.
BitShares also allows for Dynamic Account Permissions, Recurring & Scheduled Payments, Referral Rewards Program, User-Issued Assets, Price-Stable Cryptocurrencies, Distributed Autonomous Companies (DAC) and a Decentralized Asset Exchange (DEX). In short, BitShares offers the features needed for the new blockchain based economy.
11. Do they have a working product?
BitShares has a working blockchain that is ready to meet the demand of the new digital economy. The BitShares native currency BTS is traded on several popular exchanges including the BitShares DEX.
12. Roadmap – Are they meeting their project goals on time and do they have a clear plan for the future?
BitShares has been growing rapidly with new businesses building on the platform and exciting new projects like the HERO. As BitShares continues its development it could certainly create a real foothold in the cryptocurrency industry and experience continued growth in asset value.
All in all, BitShares checks all the boxes as being a good investment. The future for BitShares looks bright!
If you want to learn more about the BitShares platform and the powerful services it offers, visit bitshares.org.