The BitShares UI worker continues advancing the wallet with new and exciting BitShares features and functionality. However, if you’re not familiar with tracking software development via GitHub, you may not even notice them. By posting essential updates and upgrade notices on the BitShares News homepage, we hope to make the community more inclusive and easy to navigate.
So, today we introduce you to several of the newest BitShares features in one condensed post. First, let’s find out where to dig into the new stuff!
The newest BitShares features highlight the important aspects of safety, governance, ease of use and decentralization. What do these mean for the ecosystem and community as a whole, however? Let’s go in for a closer look at each one these to see what the BitShares UI Team brings in its most recent iteration.
Hash Time-Locked Contracts
Hash Time-Locked Contracts (HTLC), Atomic Cross Chain Swaps (ACCS) or simply “Atomic Swaps” can now be executed on BitShares. This functionality allows for completely trustless wallet-to-wallet trading between assets. Most importantly, it enables a significant reduction in counterparty risk when trading.
Atomic Swaps allow transfers between BTS and other HTLC enabled blockchains directly and in a completely decentralized fashion. Trading with assets outside the BitShares ecosystem also eliminates the necessity of using a gateway.
Hackers attempt to compromise user accounts via misleading proposals, first detailed in this post from February, 2019. As a result, the UI team has implemented a way to inform the end-user immediately, as illustrated below.
Clearly, anyone would hesitate to accept this dangerous proposal, and a button now provides a “permanently reject” option to simplify the decision. An eye-catching alert banner in the top section of the wallet also informs all users of important news or threats in a timely fashion.
Direct Debit Authorization
In addition to the visual changes, new features such as direct debit authorization expand BitShares’ utility. Recurring payment authorizations allow users to arrange for predictable and secure distribution of funds to other accounts.
Users may give access to payments for specified accounts and may control parameters over the assets, sums and intervals they desire with ease and flexibility. Try it out here.
Market Fee Sharing
The use and distribution of fees collected during BitShares’ daily operations are extremely important. Additionally, the bitUSD and bitCNY stablecoins now support asset fee sharing. The flexibility of this new feature creates enormous incentive for web admins to onboard new users into BitShares.
The asset owner defines a given percentage of the market fee that is funneled back into the referral rewards program. Funds can easily and automatically get distributed by combining the new features such as direct debit authorization. This automatic “hands off” payment function leaves users free for more important tasks.
The possibilities for on-boarding users to the BitShares Blockchain are enormous. bitUSD, bitCNY and bitEUR have a whopping 80% of market fee sharing enabled. Since the beginning of July 2019, the registrar of MagicWallet could potentially accumulate 70,700 bitCNY through its market fee sharing. This is certainly due to the heavy use of bitCNY and their mobile app. The registrar of the reference wallet has accumulated 4,000 bitCNY in the same period.
Improved Interface and Themes
Having an appealing, pleasant user experience is one of BitShares’ most important goals. Toward that end, you can view your open orders by groups or asset and selectively cancel them in one click. You may also export a full CSV history in CoinTracking or any other personally defined format.
Additionally, if you have any formats or other statistics services that require a specific format, please feel free to log an issue on the GitHub BitShares UI repository. The team will review and consider all of your suggestions.
Finally, the team has improved the default template choices to include 3 options:
The BitShares community recognizes the value of entertaining a diversity of perspectives and welcomes your participation. It’s easier than you might think to make an impact on future BitShares features!
If you like what you see here and want to help guide the direction BitShares takes, you can always register on the official BitShares Talk forums. Your comments, suggestions and feedback is highly appreciated!
Thanks to BitShares UI Team for the original source post.
- DATE: May 25, 2020[Poll] BAIP6: BTS-DEX economic model
- DATE: April 29, 2020[Worker Proposal] Marketing: Full time Marketing team
- DATE: April 17, 2020[Poll] BAIP2: Reform on bitEUR feed price mechanism
- DATE: April 3, 2020[Worker Proposal] 201910-bsip70 - Peer-to-Peer Leveraged Trading
- DATE: April 2, 2020[Committee Member] - Proposal for "agorise" to join the Bitshares Committee