Bitshares is an industrial-grade decentralized cryptocurrency exchange and is part of the Microsoft Azure Blockchain. It was invented by Dan Larimer, the inventor of Steem and cofounder of EOS, Charles Hoskinson, Ethereum and Cardano cofounder, in 2014. The exchange allows for the trade of commodities, currencies, and securities. It is government compliant and ready to hit Wall Street with its smart contract platform. The network of decentralized applications of the Bitshares Blockchain is maintained by 30 stakeholder elected developers. Bitshares was finally released in late 2015 and like Bitcoin, utilizes Sha-256 algorithm. Their exchange operates via BitUSD which is tied to the USD. This way, users can convert other cryptocurrencies to fiat backed assets or Bitassets. This way the value stays on the blockchain and protects the owners privacy, which is compromised when converting cryptocurrencies to fiat currency.
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