### What is BitShares?

BitShares (BTS) is a decentralized exchange (DEX) platform designed to enable the trading of cryptocurrencies and BitAssets, which are tokens pegged to real-world markets. It aims to provide a high-performance exchange and payment network globally without the need for third-party intermediaries.

### How does BitShares work?

BitShares operates on the Graphene blockchain technology, offering transaction speeds of up to 100,000 transactions per second. It utilizes a Delegated Proof of Stake (DPoS) consensus mechanism, where stakeholders vote for delegates to validate transactions and make network decisions. Users can create smart coins called BitAssets, including Market Pegged Assets and other crypto-derived pairs. BitShares also supports the creation of Distributed Autonomous Companies (DACs), which function autonomously based on encoded business rules.

### What are the potential use cases for BitShares?

BitShares has a variety of applications, including:

1. **Decentralized Exchange:** Facilitates high-speed, secure trading without centralised intermediaries.
2. **Financial Services:** Offers smart coins for pegged assets and collateralized loans.
3. **DACs:** Enables businesses to operate as autonomous entities on the blockchain, reducing costs.
4. **Property Investment:** Through partnerships, BitShares aims to invest in real estate, backing its technology with tangible assets.

### What is the history of BitShares?

BitShares was founded by Dan Larimer and launched in July 2014. Initially called ProtoShares (PTS), it evolved from a Bitcoin clone to a comprehensive financial platform. BitShares experienced significant developments, such as joining the Microsoft Azure blockchain and undergoing a hard fork in 2020, resulting in a new coin, NBS. It has a history of innovative blockchain applications and remains active as a decentralized financial platform.

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