BitShares
Crypto Overview
Overview
BitShares (BTS) is a decentralized exchange (DEX) platform launched in 2014 that aims to provide a blockchain-based financial trading platform. The project was created by Dan Larimer, who also founded EOS and Steem.
Purpose and Utility
BitShares was designed to serve as a decentralized exchange platform allowing users to trade digital assets, create market-pegged tokens (called BitAssets), and participate in decentralized governance. The BTS token is used for transaction fees, collateral, and governance voting on the platform.
Business Model Analysis
The core business model revolves around providing decentralized trading infrastructure, which aligns with halal principles as it facilitates legitimate asset exchange. The platform enables direct peer-to-peer trading without intermediaries, promoting transparency and reducing counterparty risk.
Real-World Adoption
While BitShares was one of the early DEX platforms, its current adoption is limited compared to newer alternatives. The platform continues to operate and maintain its core functionalities, though trading volumes are relatively low compared to other major DEXs.
Development Activity
The project maintains ongoing development, though at a slower pace than during its early years. The core infrastructure remains functional and secure, with periodic updates and maintenance.
Token Distribution
The initial distribution of BTS tokens was done through a fair launch mechanism, with no pre-mine for founders. The token distribution appears relatively decentralized, with no single entity controlling a dominant portion of the supply.
Technology and Revenue Model
The platform generates revenue through trading fees, which are distributed to network participants. The technology focuses on facilitating asset exchange rather than lending or interest-bearing activities.
Crypto Impact
To assign a comfort level investing in BitShares from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to BitShares.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.