BlockbasisGeneral Q&A

What blockchain does Blockbasis use?


Blockbasis is built on Bitshares which was launched in the current form on October 2015. The BitShares blockchain and its dApps implements industrial-grade technology with an amazing open source ecosystem. Based on open-source MIT-licensed, Graphene technology and its blockchain comes with many benefits:

1) Speed: Super fast block confirmations. Transactions get written to the blockchain within 3 seconds, and on average in under 1.5 seconds!

2) Low Fees: Like other blockchains, to run on the Graphene blockchain there are fees, yet they are much lower than what you know from the Bitcoin and Ethereum blockchain.

3) Self-sustaining: The Graphene blockchain covers costs through an ecosystem of dApps which self-fund the core Bitshares token, BTS.

4) Security: The consensus mechanism used on Graphene is Delegated Proof of Stake (DPOS), which is virtually impossible to hack, as it would involve taking out many active and backup, global, trusted delegates.

Beyond the Graphene blockchain, BitShares offer a variety of blockchain tokens and types of digital assets. There is not just the BTS (core token) but many other types of currency and assets. Hence, providing a service like Blockbasis the flexibility needed to transact and exchange virtually anything where there is a buyer and seller.

By using Bitshares, Blockbasis ensures to offer Blockbasis’ users a secure, flexible and efficient solution to store, send, receive and exchange digital money.