High Level Understanding of Graphene, BitShares, and Creating a Cryptocurrency?

[Chris4210]

Hi,

I hope this post isn't seen as a let me google that for you type of thing, I'd just like to see if someone on here is willing to give me an overview on a high-level of the integration and relationship between the BitShares network and the Graphene platform. My interest was sparked by the following article which describes the creation of a "SmartCoin" for Argentina, that is somehow linked to BitShares and as a result maintains the price stability that the nature of BitShares affords it.

Article link: https://decentralize.today/how-we-raised-3-500-to-create-our-own-coin-on-bitshares-b45119070836#.lcy7mgtsq

If anyone would be willing to reach out to me or perhaps provide an in-depth explanation here, it would be much appreciated. I am going forward as part of a larger project that leverages the BitShares platform and want to make sure I understand the nature of exactly how it works before going forward. Thank you!

Hi Nicomee,

please send me an e-mail to Chris@bitshares-Munich.de with a short summary of your idea. I can walk you through the BitShares platform in a short call and explain BitAssets to you.

cheers Chris

[xeroc]

I've read through that, which makes sense (mostly). But what am I wondering is how as described in the article, someone was able to create a Smartcoin that maintained price stability by integrating with the Bitshares technology while still being a distinct cryptocurrency of its own.

In case of a smartcoin, it's not done but just creating the new asset ... Smartcoins require a 'price feed' to be published on the blockchain. The price feed could be made by a multisig group or maintained as a median over many price feed producers. it's up to the issuer how much trust he is willing to put into the hands of the producers. This price feed is what executes margin calls and makes the price stick at parity (settlement)

[nicomee]

I've read through that, which makes sense (mostly). But what am I wondering is how as described in the article, someone was able to create a Smartcoin that maintained price stability by integrating with the Bitshares technology while still being a distinct cryptocurrency of its own.

[Brekyrself]

Start here for a high level overview: https://bitshares.org/

Each section explains the different parts of BitShares which is built upon the graphene blockchain technology.

[nicomee]

Hi,

I hope this post isn't seen as a let me google that for you type of thing, I'd just like to see if someone on here is willing to give me an overview on a high-level of the integration and relationship between the BitShares network and the Graphene platform. My interest was sparked by the following article which describes the creation of a "SmartCoin" for Argentina, that is somehow linked to BitShares and as a result maintains the price stability that the nature of BitShares affords it.

Article link: https://decentralize.today/how-we-raised-3-500-to-create-our-own-coin-on-bitshares-b45119070836#.lcy7mgtsq

If anyone would be willing to reach out to me or perhaps provide an in-depth explanation here, it would be much appreciated. I am going forward as part of a larger project that leverages the BitShares platform and want to make sure I understand the nature of exactly how it works before going forward. Thank you!