****************NEW CHAIN IS LAUNCHED:NOTICE
: Please upgrade to v2.0.1 (includes malleability fix from BTS 0.4.26)
Linux packages: http://software.opensuse.org/download.html?project=home%3Ap_conrad%3Abts&package=PTS
Windows build: https://github.com/PTS-DPOS/PTS/releases
* Upcoming snapshot will take place on December 14th
* New website is live: www.ptscrypto.com
* GUI client is nearing completion
* Testnet is stable, Dry Run #1 to be announced shortly
BitShares PTS (originally named “Protoshares”) is the original crypto-equity of the BitShares ecosystem. PTS was created prior to development of the BitShares Toolkit, a revolutionary blockchain technology using Dan Larimer’s Delegated Proof of Stake consensus algorithm (DPoS). PTS is a sharedrop instrument for future decentralized autonomous companies (DACs) built upon the Toolkit. Per the BitShares social consensus, PTS holders will receive at least a 10% share in all future DACs.
Now that development of the Toolkit is complete and the first DAC (BTS) is launched, the time has come to upgrade BitShares PTS away from the slow and inefficient proof of work protocol to a new DPoS blockchain using the BitShares Toolkit. We invite you to join us in celebrating the rebirth of BitShares PTS - a historic original, a pre-eminent sharedrop instrument, and now with unparalleled DPoS technology.Snapshot
Block production in the current proof of work blockchain has slowed to a crawl. Therefore, the upgrade of BitShares PTS will use the last block produced and published to the network prior to the end of day on December 14, 2014 UTC. Exchanges should honor your stake in the new chain (specifics forthcoming).Specifications
* 10 second block confirmation (!)
* Supply will be scaled to 1,000,000,000 (1 Billion) PTS
* Absolutely no inflation or dilution of the supply, now or ever
* Current PTS-holders will receive their exact proportion of stake in the new chain as of the snapshot dateFeatures
* Fair 100% proof of work distribution
* True anonymity using TITAN technology
* No ugly hash addresses (send and receive to usernames)Social Consensus
The BitShares social consensus is a non-binding agreement and invitation to developers of future BitShares DACs to sharedrop at least 10% of their total allocation to PTS holders.
In this way, PTS holders receive a perpetual dividend in the form of ownership in every future BitShares DAC. And unlike Bitcoin, whose largest holders (the exchanges) would never honor a sharedrop, PTS-friendly exchanges such as Bter, Poloniex, and Btc38 have a track record of honoring ownership of PTS holders in new DACs. This makes PTS the ideal sharedrop instrument for developers who want dedicated DAC-friendly shareholders and wide distribution.Principles
* simplicity - BitShares PTS is delegated proof of stake (DPOS). It is a pure implementation of the core DPOS protocol without the application-specific functionality of the many profitable DACs that will be built on top of it. In this way, PTS is the foundation layer of the BitShares ecosystem.
* openness - BitShares PTS is not only open-source, but also open strategy. PTS promotes open development and contribution to the BitShares platform by third party developers and investors. At the same time, PTS is agnostic to the features, technology, and business strategy of any particular DAC that is built on top of it. BitShares PTS is the Switzerland of DACs.
* collaboration - BitShares PTS will be built with extensibility and collaboration in mind. In addition to serving as the common core of profitable DACs, PTS will also serve as a launching pad and resource for developers of new DACs. In this way, any contribution to BitShares PTS is a contribution to the BitShares ecosystem. The mantra of PTS is: easy-to-use, easy-to-build, and easy-to-fork.
* stability - BitShares PTS is a stable, non-inflationary, and fairly distributed token. BitShares PTS is not a business and is not designed with the objective of maximizing profit. As the business environment changes, application-specific DACs will have to evolve to maintain their competitive advantage. PTS may also evolve, but only with a slow and steady hand that serves the interest of PTS holders and these principles.BitShares PTS vs. BitcoinResources
* BitShares Subforum
* Block Explorer
* RedditFuture Goals
* After the upgrade, a complete rebrand.
* A suite of technical, marketing, and community resources for DAC developers to build on top of PTS.Exchangeswww.bter.comwww.poloniex.com
Sincere thanks to pc and cube for the development work, testz for his support and feedback, cass for helping with the website, and I3 for returning all PTS donated funds back to the community and breathing new life into this project.