The DPOS algorithm is divided into two parts: electing a group of block producers and scheduling production.
The election process makes sure that core-token holders are ultimately in control because stakeholders lose the most when the network does not operate smoothly”. Dan Larimer
DPoS (Delegated Proof of Stake) specifically replaces environmentally reckless ‘mining’.
The BitShares Blockchain designs permissions around accounts and then cryptography for ease of use
Every account can be controlled by single or weighted combinations of other account/s and/or keys. This creates a hierarchical structure which can be built to reflect real-life permissions – for example a company or organization approval and signing processes in digital form.
Any user interacting with a Blockchain does so with transactions which are authentic and authorized.
Transactions are constructed then transmitted to the network, containing instructions the user wants to perform. The most simple form is the transfer operation, which contains sender, receiver, amount, and optionally, encrypted memo.
Create your own cryptocurrency tokens by publically representing and listing a User-Issued Asset on the blockchain
User-Issued Assets enable entrepreneurs to issue their own tokens. Event tickets, company shares, crowd-funding, loyalty/credits are just a few of the examples. Whitelist to create fully regulatory compliant KYC/AML tokens. Publically describe, list, and provide liquidity for your assets.
Operations on the BitShares Blockchain allow for extending its range of functions towards built-in or external dApps.
The BitShares Blockchain is extensively modularized and implements operations independently of one another. BitShares is considered so stable because core blockchain modifications require vetting by the core developer team, followed and approved by BTS holders before any network-wide protocol upgrade.
Human-readable account names that must be registered together with public-keys in the blockchain prior to usage
The BitShares Blockchain acts as a name-to-public-key resolver in a similar way to the traditional Domain Name Service (DNS). Users can easily remember and pass on their account information instead of error-prone addresses.
More Features of the BitShares industrial grade blockchain:
Fastest block confirmations. Transactions get written to the blockchain within 3 seconds, and on average in under 1.5 seconds.
Like other Blockchains, BitShares also has fees yet they are much lower than average, with 80% vesting cashback for lifetime members.
Recurring and Scheduled Payments
Supports recurring payments, subscription payments, allow users to authorize third parties to make withdrawals within certain limits.
Dynamic Account Permissions
Enabling management for the corporate environment, control wallets using a weighted combination of other account approvals.
Powered by an eco-system of dApps which self-fund the core token BTS, ensuring the blockchain covers costs to keep going in perpetuity.
Delegated Proof of Stake (DPOS) is virtually impossible to hack, as it would involve taking out many active and backup, global, trusted delegates.