So you are saying sharedrop on PTS, is all it is?

No, this may be semantics but it is an upgrade. The PoW chain is nearly dead and producing about 1 block per day.

************Updates****************

NEW CHAIN IS LAUNCHED:

NOTICE: Please upgrade to v2.0.1 (includes malleability fix from BTS 0.4.26)
Source: https://github.com/PTS-DPOS/PTS/tree/v2.0.1
Linux packages: http://software.opensuse.org/download.html?project=home%3Ap_conrad%3Abts&package=PTS
Windows build: https://github.com/PTS-DPOS/PTS/releases

************************************


Summary

* 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 date


Features

* 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. Bitcoin




Resources

* Website
* Forum
* BitShares Subforum
* Github
* Block Explorer
* Reddit


Future Goals

* After the upgrade, a complete rebrand.
* A suite of technical, marketing, and community resources for DAC developers to build on top of PTS.


Exchanges

www.bter.com
www.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.

Quote from: GaltReport on November 10, 2014, 04:51:47 pm

Sure, let people do what they want.  It's a partly-free country ( )...but keeping the same name would be dishonest IMHO because it is not the same "coin" and doesn't represent the same value proposition.

That's a pretty good, solid and quantifiable reason to change the name of PTS to AlphaShares.

 

There will be no change to the social consensus, the allocation, or anything other than the protocol. This is simply a badly needed upgrade to PTS, which is now barely producing blocks. After the upgrade, if the community agrees we can discuss a rebrand, but not because this is a "new coin" (which it isn't).

Thank you bytemaster, I3, and everyone involved for doing this. I just can't commend you enough for this. Hopefully these words of praise from a very skeptical and somewhat ornery guy are enough to convey the point. 

I should mention for completeness that this free-floating account registration would need to expire (ie, be released) if not claimed within X blocks. This would maintain the non-transferable nature of account names while still allowing for the free floating registrations.

This could enable all sorts of referral based onboarding whereby users/services can invite their friends/contacts, register accounts for them in advance, and provide a referal link that the client uses to "claim" the registered account.

Alphabar, yes it does hurt BTS. We just bought out people who had PTS with the assumption that BTS would take on it's responsibilities. If you make this new PTS they'll sell their BTS and buy that, which is TAKING MONEY FROM BTS.

At the very least don't call it PTS. You are making a new product which is not the original PTS. Call it AlphaShares maybe.

It is not a new DAC, it is an upgrade to PTS. Your example of selling one to buy another is completely unfounded because it assumes that the two products are interchangable when they are actually completely different. Why would somebody who values profitability and features see any value in PTS??? See the differences I explained above. You are wrong for the same reason that protectionism and isolationism is wrong. We are not taking from others' share of the pie - WE ARE GROWING THE PIE.

A note regarding our work on the transition of PTS to a standalone DPOS chain:

PTS is alive and well and so is the social consensus. PTS will be the preferred sharedrop instrument of future 3rd party DACs. We have yet to decide whether to use the Nov. 5th snapshot (since a future snapshot may not be possible if mining stops completely), but rest assured that we have a functional testnet, new website and marketing in the works, and an active group of dedicated developers and marketers.

Stay tuned for more information...

If you're going to chop the thread in half to remove my comments you should probably remove the part where you namedrop me as well... just sayin.