What is New BitShares (NBS)?
New BitShares (NBS) is kind of like a new version of the BitShares network. In 2020, BitShares underwent a hard fork that led to the creation of New BitShares. NBS is a stand-alone project that is not a part of the main BitShares network, though. However, following the hard fork, holders of BTS tokens received NBS tokens at a 1:1 ratio.
New BitShares is a cross-chain DeFi platform that also features a DEX and runs using advanced Graphene technology. The network employs the Delegated Proof-of-Stake (DPoS) consensus mechanism and is governed based on the principle of a DAO.
NBS is the native token of the platform. You can check the current NBS price on the New BitShares price chart above.
Apart from trading on the DEX, users can also develop decentralized applications (dApps) using the New BitShares crypto platform. The dApp developers are provided with an SDK that has standard structures and testing tools, Command Line Tools, and NBS Explorer, which allows them to analyze network performance and debug contracts. Besides that, the platform offers an NNS Wallet for streamlining the user experience.
Use Cases of NBS Tokens
The New BitShares coins are used for various cases. The following are the main ones:
- Payment method. NBS tokens are used to cover transaction and processing fees.
- Governance. NBS token holders are provided with governance rights, which means that they can vote on various decisions that determine the further development of the New BitShares crypto project.
- Loans. NBS holders can loan their tokens and choose their own reserve levels.
- Rewards. NBS tokens are used to reward network users.
Make sure to analyze the New BitShares price chart before making any purchasing decisions. It features both – the current and the previous NBS price.
Who Founded New BitShares?
As mentioned before, New BitShare is a hard fork of BitShares. The latter was founded by Dan Larimer and Charles Hoskinson in 2014. ProtoShares was the project's original name, though.
Dan Larimer is a seasoned software engineer. He has previously held positions in such companies as Raytheon, TORC Robotics, Park Intuit, and Pheonix Integration. Additionally, he was the creator of Steemit, Block.one, EOS, and Cryptonomex.
Charles Hoskinson is both – a mathematician and an entrepreneur. He is a part of the team that created Ethereum. He also founded Cardano in addition to BitShares and Ethereum. Besides, as of writing this, he serves as the CEO of IOHK.
