I think I know the basics how bitshares works, but I am still not sure from where specific bitassets came from. I know that there are 101 delegates responsible for providing information about price of pegged assets.
1. Are they providing information about all pegged bitAssets at the same time, or they are 101 delegates for each pegged bitassets?
2. How decide when to create new pegged assets?
3. How often new bitAssets are created so far?
Hi, you happen to have gotten here as we're doing a major upgrade of the system. You may be confused by some outdated information (version 0.x), the new version we wrote from scratch (version 2.0) will address many of the very questions you're asking. We'll switch over to version 2.0 on October 13.
In BitShares 0.x, the 101 delegates that run the network must publish price information for all pegged assets. To create a new pegged asset, you need to convince a majority of the 101 delegates to publish price information for it. Not many new BitAssets have been created because coordinating so many parties is a high barrier to entry.
In BitShares 2.0 (powered by the Graphene technology), we have fixed all these problems. Anyone can get a symbol, create a market-pegged asset, and publish a data feed for that asset. Once a feed is published, people can borrow the asset into existence like any other market pegged asset in Graphene. (In BitShares 0.x, assets are created by shorting, which means newly created units of an asset must immediately be sold on the internal market. In Graphene, creation (a
supply operation which changes the total number of units in existence) and sale (a
market operation by which already-existing asset units change hands) are totally separate, which greatly simplifies both the concept and the implementation.)
The asset object has one account designated as its owner, and another account as the feed producer. The owner has many powers, including forcing settlement of all outstanding units of the asset or changing the feed producer. If this provides more centralized control than you would like, the owner can permanently revoke many of his powers through the asset permission system, and the authority system (hierarchical threshold multisig) allows both the owner and feed producer to be distributed among many accounts, with consensus of a quorum required to do anything. (How big a quorum is needed is the "threshold" part.) The proposed transaction system allows you to use the chain itself to coordinate signing of transaction.
I admit that documentation is lacking, maybe I'll throw something together if our testnet is running smoothly and I don't have anything to do.