New BitShares (NBS) is a fork of BitShares (BTS), the Delegated Proof-of-Stake (DPoS) public blockchain infrastructure that started as a decentralized cryptocurrency exchange. In this article, as Kriptokoin.com, “What is New BitShares?” We will answer the question. In addition, we will touch on other questions about the project.
What is New BitShares? What Does It Do?
New Bitshares is a fork of Bitshares and a public blockchain infrastructure that uses the delegated proof-of-stake or dPos consensus algorithm.
The fork continues to operate based on a DPoS consensus. Also, this fork only reverses functions not approved by BTS committee for BTS4.0. That is, other functions of BTS4.0 continue to be used.
Of course, it describes itself as an open source solution (OSS) to power decentralized finance (DeFi) and DEX (decentralized exchanges) based on the dPos consensus of the founder of EOS.
What is NBS Coin?
NBS coin is the native token of New BitShares. Token; transaction fees are used for voting, store of value, collateral, and staking within the New BitShares Network. It is an OSS based on the DPOS consensus of DEFI and DEX and the DAO management structure. NBS uses advanced graphene technology in the blockchain world to create a fast and stable decentralized exchange and decentralized financial platform.
The NBS community itself is a decentralized DPOS consensus mechanism that allows any entity to vote and run private assets or activities. With one coin and one vote weight for core tokens, NBS holders can freely decide whether to support the community development program. The entire process, from the taking of the transaction decision to the review and resolution of the execution, is carried out in a transparent and fair environment.
How Does New BitShares Work?
The new Bitshares is working to reverse some features in BTS 4.0 that were not approved by the Bitshares committee. Additionally, there are features that New Bitshares will not include from BTS, for example:
- Weakening of the weight of the votes.
- Committee elections are held on the basis of one vote (1:1).
- Counts votes from unblocked accounts as zero.
- Elimination of voting rights when Bitshares is used as security.
It essentially works the same as Bitshare but with minor changes aimed at reducing the fear of centralization. In addition, it removes some features that are considered unfair by users.
What is New BitShares? How to Buy NBS Coins?
New BitShares is currently traded on numerous cryptocurrency exchanges. People who want to invest in the project should open an account in one of the exchanges where the project is traded. The exchanges where New BitShares is traded are listed as follows: Binance, MEXC, CoinTiger, Huobi Global. Users who want to invest in the project should open an account on one of these exchanges.
