Eristica announced that they will be migrating their blockchain based operations to the BitShares platform. This will add 1.2 million new users to the rapidly growing BitShares ecosystem. Eristica is a revolutionary platform that provides a decentralized way for anyone to participate in challenges, contests and online competitions.
Users post videos of themselves completing challenges in order to win cryptocurrency prizes. These challenges can be anything from the “Ice Bucket Challenge” to pulling a prank on your friend.
The challenge is a smart contract. Two users undertake a challenge with cryptocurrency as a stake (prize).When you upload a video of yourself completing a challenge you automatically win cryptocurrency. If you fail to complete the challenge your opponent wins the cryptocurrency, with the global community acting as a judge. Think “Candid Camera” meets “Pokemon Go”.
The Eristica project has seen its popularity escalate around the globe since its inception in 2015. It now has over 1.2 million users around the world with most of the users being teens and young adults in Russia and Southeast Asia.
The company which is currently hosting its ICO already has an impressive list of accomplishments.
✔ A FunTech video platform for challenges with 1.2 million user base
✔ Support from the #1 early-stage investor in the world: SOSV
✔ Support from McKinsey, Winter Capital and a group of private pre-ICO investors
✔ Slush Asia 2016 Semifinalists
✔ Agreements for monthly pre-installs on smartphones in Asia
Although Eristica is having an ICO on Ethereum, they have announced they plan to migrate to the BitShares platform.
“We at the Eristica team are happy to announce that Stan Larimer and Michael Taggart joined the Eristica team as advisors and tech consultants. Together with the help of the BitShares community we will implement Graphene protocol for all decentralized transactions in Eristica.”
Why BitShares?
The recent CryptoKitties fiasco which slowed the Ethereum blockchain highlighted Ethereum’s many scaling issues. Eristica claim that they had been thinking about the scalability issue long before the CryptoKitties incident. The Eristica team do not believe that Ethereum will remain a good option for their operations in the ecosystem with 1.2 million users. They believe BitShares is ideally suited for their needs.
“That’s why we started a conversation with the BitShares community. The Graphene protocol perfectly fits in the Eristica ecosystem. We have thoroughly researched the Bitspark case of migrating to BitShares as well as other highly loaded projects.”
For those readers who are unfamiliar with BitShares, BitShares is a decentralized exchange platform using real-time, industrial grade blockchain technology. Built with super-fast Graphene tech, the BitShares blockchain is capable of 100,000 transactions per second! The platform is fast, efficient and designed to propel businesses and users into the future.
BitShares is one of the world’s busiest financial blockchains as seen on blocktivity.info. While many investors rate cryptocurrencies by market cap, blocktivity.info takes into account all of the actual activity on the blockchain. This provides a clearer picture of which blockchains are actually delivering value.
BitShares doesn’t just offer speed and scalability. It was designed from the ground up to provide businesses with an extremely robust toolkit of features. This all makes for one powerful platform and businesses have certainly been taking notice.
This year several companies have announced that they will be building on BitShares or migrating away from other platforms like Ethereum or Bitcoin in favor of BitShares.
Below are several recent announcements from companies planning to integrate BitShares:
“Arise, the first decentralized bank is teaming with BitShares, the first decentralized exchange to provide a comprehensive platform for real-time delivery of incorruptible financial products and services. In short, this new partnership will form the most complete alternative financial system in the world.”
“The Crypviser team believes that the future of exchanges and trade platforms in decentralized blockchain world belongs to the decentralized exchanges.” Crypviser
“Our focus is on the transition to the BitShares Blockchain for the rest of 2017 and will be fully operating in time for Bitspark’s most recent project with the United Nations”” BitSpark
There have also been announcements from remittance companies Bankcoin and MicroMoney.
What does this mean for BitShares?
The BitShares currency BTS will be integrated into every single wallet in the Eristica system, which is more than 1.2 million users and an extra 500,000 from monthly pre-installs in Asia in Q1 2018. That will open the door for millions of highly engaged users to the BitShares platform.
The viral content created by the community is one of the main reasons behind the platform’s exponential growth. Challenge Videos get millions of views and attract a new audience to the platform. On average, users spend 13 minutes per session which is very high in the industry. This high level of engagement and the socially active community makes Eristica a leader in attracting millions of young users into the world of cryptocurrency.
The core currency of the BitShares platform is BTS. BTS derives its value from the demand for BitShares services. As more companies like Eristica integrate BitShares the value of BTS will rise. By purchasing BTS, you are buying a stake in the success of the platform and investing in its future.
BitShares is currently trading for less than $1. More and more companies are making the switch to BitShares. BitShares is arguably one of the most undervalued digital assets in the market today. While many ICOs and projects have yet to release a working product, BitShares is adding new businesses to their blockchain monthly. Ethereum and Bitcoin are struggling to scale to meet growing demand but BitShares is capable of handling the trading volume of the NASDAQ.
BitShares is ready today, to meet the demands of the new digital economy. It is becoming increasingly clear, that BitShares is the platform of the future.
These low BTS prices may not last much longer…
This is a well deserved boost for BTS. There were down couple months ago now they are coming back strong. I will definitely look into BTS. And it is the family tech with steem.
Great news for both Bitshares and Eristica :)
Thanks for the update Michael. I don't know how you've found time to sleep with all the work you've done for bitshares. Very excited to support you in this. This time next year I believe we will be able to look back at 2018 as the year bitshares crossed the Rubicon into widespread adoption.
Nice breakdown, Michael. This is why I've never been shaken out of my BTS position and never will. That position is going to feed my future-kids and other people's kids as well, no doubt about it.
Thanks for your info.We should definitely buy as much as we can while the prices are low!