Welcome to the 61st Bitshares State of the Network (BSotN) report. A weekly report focusing on the changes in the ecosystem and track longer term changes in a effort to identify emerging trends and changes in the Bitshares platform.
Bitshares - State of the Network - 14th November 2017
The Bitshares State of the Network Reports seeks to combine raw data from a wide range of metrics and combine them into meaningful information to identify emerging trends and changes in the Bitshares network.
Observation from this week
This section will highlight any observations made while analysing the data.
The Bitshares governance model is in full swing with 4 worker proposals currently being funded and 3 new proposed workers being voted on. 1 of the proposals already has the votes required to become funded on the proposed start date.
@lzmlam (Zicen, Bitshares Witness) and Bitcrab (Long time Bitshares supporter) have proposed a new worker proposal titled 'BTS Joint Marketing Campaign of Exchanges'. The proposal aims to work with 3 Exchanges to hold co-marketing activities to raise awareness and increase the popularity with Chinese investors. As members of the YOYOW team they have executed similar campaigns in the past with great success. This proposal currently has enough shareholder support to become and active worker on the start date proposed (24th-Nov). You can find all the details HERE
@abit has proposed a core development worker proposal, which if approved will see him commit 20 hours per month for 4 months at a rate of $2000 BitUSD per month for further development of Bitshares-Core; task include code review, bug fixes, new feature development, documentation, mentoring and coordination. The worker is using a USD escrow which will see 3/4 signatories sign off on any payment. Abitmore is a long time Bitshares supporter who has contributed a huge amount to the Bitshares ecosystem in the past; He is also the highest ranked witness in terms of shareholder votes. You can find the proposal HERE. This worker is currently just short of being approved by shareholders at the time of writing but I expect this will be fully approved by the start date of 1st-Dec as you would be hard pressed to find anyone in the community that does not recognise the value that Abitmore has and will bring to the platform
BlockchainProjectsBV has proposed a worker proposal that would see them deploy and maintain core infrastructure for the Bitshares network. The aim of this proposal is to provide core infrastructure to increase the networks redundancy and reduce its reliance on business partners. Core services would include a faucet, public API nodes as well as seed nodes with a focus on geographically distributed load balanced servers. The worker also proposes to work on development of Bitshares docker containers allowing for rapid deployment of nodes as well as servers for the testnet. You can find the full details of this proposal HERE
There is a lot of confusion or hype stemming from articles posted on cointelegraph and Forbes with comments such as "[Waves] is implementing new technology to enable the network to process thousands of transactions per minute and become what is claimed as the "fastest decentralized blockchain" platform in the world.". A+ for marketing! But their claims fall short (very short) of reality. Waves has claimed on their stress test they achieved "An average throughput of 2,000 txs/minute. Peak bandwidth was 17,000 txs/minute.". In relation to the quote "fastest decentralized blockchain" all I can say is that Graphene based networks such as Steem and Bitshares can process much higher rates than Waves has stated. In fact the Bitshares network was stress tested back in March 2017 on geographically distributed nodes with peak processing rates of 3,328 transactions PER SECOND (199,680 transactions per minute) more than 10x the Waves stress test results. I know this to be a fact as I was a node operator in the stresstest and look forward to contributing to the next stress test. Another interesting note is that Bitshares transactions can contain multiple operations (For example, you could include an operation to cancel an order and create a new order in a single transaction - this example is being used by trading bots that operate on the Bitshares network). The stresstest also included a component to test the amount of operations that could be processed on the network; The peak was 14,035 Operations Per Second (842,100 per minute). Bitshares has demonstrated the ability to process 3,328 TPS. You can view the Bitshares stresstest HERE
The Bit Universe team have released an updated version of the BitShares Wallet & Trade mobile app (v 184.108.40.206), You can find it on the Google Play store HERE
Bitshares wallets at PoloniEX are in maintenance mode at the moment; Bitshares developers are in touch with PoloniEX to find out why this is the case and assist if required.
CoinCentral has done a great introduction piece titled 'What is Bitshares? The Ultimate Guide for Beginners'. The educational piece looks into the Graphene ecosystem, technical specs, MPAs, DPOS, Governance and the DEX itself. Recommend everybody check out this resource as it might be a good tool to help new users get a better understanding of the platform. You can find the article HERE
@kalinh has done a good comparison of the two authentications models available to Bitshares users. This comparison compares the Wallet and Account models and explores the different advantages of each model. You can find the article HERE
This week’s Bitshares hangout recording has been published and is available HERE
Current registered wallets/accounts within the Bitshares network is 461891; an increase of 4969 wallets/accounts since last week
The last asset registered this week is asset #2367 and it is named 'OPEN.XPO' registered by 'openledger-wallet' with the description 'OPEN.XPO asset is backed 1:1 by the real XPO on Xronos blockchain, and can be deposited and withdrawn using gateway operated by OpenLedger ApS, company registered in Denmark, part of EU. ( https://openledger.io ) XRONOS mission is to create truly decentralized, stable and massively-applied payment instrument. For more info please visit: https://xronos.space/'.
Smartcoin issuance chart showing weekly change since the start of 2017
Bitshares stress test results
Bitshares DEX Operations per day (Only includes market activates)
blocktivity.info / @blocktivity - Blockchain Activity Matrix
How Fast is BitShares? World's Fastest Blockchain & DEX - Go Bitshares
Bitshares Stresstest from March 2017
This sections seeks to analyse the current distribution of the network. We look at the current supply, top 100 hodlers, Orders on the Bitshares Decentralized Exchange (DEX), Reserve pool balance and Income growth.
|Distribution||Balance||Change W/W||Change W/W %|
|BTS in Open Orders (DEX - T250)||10404019.83||2,146,877.00||28.84%|
|RP Accumulated fees||190,293||-1,921.00||-1.00%|
|Collateral (top 250) backing Smartcoins||430547078||-5,058,780.00||-1.20%|
|Top 100 Total||1,199,993,740||5,826,702.00||0.47%|
|Top 100 - minus Exchanges||475,843,877||28,358,652.00||6.26%|
Profit/Expenses from the Bitshares Reserve Pool
The chart below show historic profit/expense from the Bitshares Reserve Pool where a positive number represents a W/W profit and a negative number means a W/W expense; Bitshares expenses include witness and worker pay and income includes network fees.
Looking at the most active trading pairs for Bitshares (BTS). Data displayed is a 24 hour snapshot as taken on the date of this report and not a reflection on the week as a whole.
|Market||Last Price||Price USD||24hr Vol BTS||24hr Vol USD||Vol %||Vol % Change W/W|
This section will identify the current approved and pending worker proposals
- Alfredo Garcia - Core Development for Second half of 2017
- BitShares Greater China Representative
- Joint Marketing Campaign of Exchanges WP
- Abit - Core Developer - 201712~201803
- Soledger - Vikram/Agent86 - Project administration & essential maintenance
- Fund to pay dividend
DEX: Most Active Markets
This section will show the BTS markets within the DEX and seek to highlight the most active markets.
The most active base pair is BTS and the top 3 pairs are CNY, USD and Open.BTC
This sections seeks to analyse the current supply and market capitalisation of the Bitshares Smartcoins.
|Asset||Supply||Price||Market Cap BTS||Market Cap USD||Supply Change W/W|
This section will track user referrals, to gauge active refers overtime. The chart below shows in blue the total number of referred users and in orange the new referrals for this week.
This section will track the change in proxy voting
|Account||Opinions||Followers||Weight (M)||Weight Change (M)|
This section will track top 25 active witnesses and the changes in support
Top 100 Distribution including Exchanges
This section looks at the top 100 rich list and compares account balances, this section will seek to identify changes in ownership which may lead to interesting investigations and early warning signs of upcoming projects
|Rank||Account||Balance(inc orders)||Orders||Change W/W||Change W/W %|
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