The BitShares team this week announced their newest development, the upgrade to BitShares 2.0. This upgrade is said to be the next step in the evolution of BitShares. It incorporates all of the feedback and lessons learned from the BitShares stakeholders, partners, developers, marketers, and other community leaders throughout this past year of research and development.
With BitShares reaching maturity at version 2.0, the team is ready to remove the training wheels, and let the direction of all future development be decided completely by stakeholder vote.
To help ensure the long-term success of BitShares technology, the core development team will be reorganizing into Cryptonomex Inc., an independent blockchain development company. By utilizing a new worker voting system that will be included in BitShares 2.0, this company will continue to help develop BitShares in whatever direction is approved by its stakeholders. With this new structure, BitShares will be more robust, sustainable, and fair than ever.
The new upgrade introduces a brand new BitShares codebase, which has been rebuilt from scratch with a lot of features such as, Decentralized Asset Exchange, Stakeholder-Approved Project Funding, Delegated Proof-of-Stake Consensus, Industrial Performance and Scalability, Collateralized Bond Market, Dynamic Account Permissions and many more.
This codebase has been designed to solve the largest technical and economic problems with BitShares today. New competitive features have been added that will allow BitShares to grow and succeed as an industry leader.
BitShares 2.0 is based upon the Graphene Toolkit. BitShares is first and foremost a protocol based upon a public ledger. Anyone may provide and distribute an alternative implementation of the protocol and use the protocol for any other blockchain. The Graphene Toolkit produced by Cryptonomex Inc. is only one possible implementation of the protocol.
As soon as the software is ready, it will enter a public testing period for gathering community feedback. This testing period will last until the community is satisfied with the new system, after which an upgrade snapshot date will be announced with at least 30 days notice.