So after reading up, can someone confirm or deny this is how Bitshares works please?
1) So, basically Bitshares is composed of two things, Assets which track/are equal to real world items(such as 1 BitUSD= 1 USD), and the decentralized exchange, where you can trade those assets for BTSX(Bitshares) coins.
2) A DAC is where you get income proportional to your stake, similar to staking in normal PoS coins where you get a certain % interest from holding the coin in your wallet for (x) number of days. The DAC is like the blockchain(?)
3) There are 100 delegates, which may be voted upon by shareholders. Delegates represent the shareholders in the sense that you need 51% approval to make irreversible votes(51% attack?), and having 100 delegates represent the majority of the shareholders makes it much easier to accomplish the 51% approval in a fast amount of time.
Overall) So putting it all together, Bitshares is similar to a decentralized government or corporate entity, it has delegates that are voted upon to represent the majority of the shareholders, a decentralized exchange to exchange assets for their real world counterparts, and all shareholders or people holding BitshareX, gets paid proportionally to the amount of BitshareX they hold. Basically, Bitshares gives up mining as in PoW(Bitcoin) for a staking approach(similar to normal PoS), but with the added bonus of having a decetralized asset exchange and 100 delegates to represent the shareholders in the Bitshares network.
About the assets, are they created by users themselves? So similar to other decentralized exchanges, I can create my own asset and peg the value to 1 USD?
I'm also a bit confused about the DAC, is the DAC similar to a blockchain? Or is the DAC simply the staking process where every shareholder gets income proportional to their stake? Is a DAC a fork of the original Bitshares X blockchain?