A: BTS++ is a decentralized exchange (DEX) product based on bit-strand graphene technology, which is developed from the product experience and is comparable to the first-class centralized exchange developed by native technology.

Overview: BitShares, referred to as: BTS. It is a kind of open source distributed trading system that supports digital virtual currency and French currency. The system is primarily capable of providing a solution to a decentralized exchange. At the same time, the transfer of bit shares is fast, and each transaction is confirmed for 3 seconds. Currently 3,000 transactions per second can be processed, enabling commercial-grade applications. The total amount of Bitcoin tokens is 3.7 billion, and the circulation of tokens is 2.6 billion.

2.1 About committee

The board of directors consists of members of the board of directors voted by a group of shareholders whose duties are to set system operating parameters. These include the following:
● Transfer and transaction fees.
● Blockchain parameters, such as block size, block generation time interval.
● Recommend and freeze/thaw parameters, such as bonus rebate ratio and freeze time.

Note:The board of directors is currently set up as a 11-member seat. To become a member of the board of directors, you must first become a member (through the wallet, anyone can become a member). Then you can canvass the ticket, and the members with the top 11 votes will become members of the board. The board only sets the operating parameters of the system and cannot directly influence the "witnesses".

2.2 About witness

Witnesses are entities that generate new blocks for blockchain packaging and can be understood as mines. Each witness is approved by the shareholder to package the verified transaction, generate and sign the block. Each transaction entering the network will eventually be verified by all witnesses. At the same time, witnesses also provide feed price data for the market.

2.3 About proposal budget

If you have a project that promotes bit stocks, but lacks funding, or want to make money. You can apply for WORKER, and then the BitShareholders will vote to see if they support or oppose your funding request. You can also simply initiate a proposal change to vote.。

2.4 About voting

All BTS users in the BTS's autonomous system can vote for witnesses, councils, budget proposals. Corresponds to 1BTS=1 votes. Voting does not consume BTS and can vote for multiple directors, witnesses or work proposals. The number of votes will be refreshed once an hour, and the number of BTSs held by the user's current account will be updated. If you have an authorized agent, the change in the number of BTSs will also determine the number of votes for the agent.

2.5 About the agent

If you don't have the time and energy to exercise your voting rights, you can also entrust an agent account to exercise voting rights. After setting up the proxy agent, all your BTS currency votes will be transferred to the agent account (voting only). You can view, change, cancel the voting object or directly cancel the proxy in the BTS++ voting interface. It should be noted that if you have an agent to change the voting status or the voting object, the agent authority will also be withdrawn by you, but the previous proxy voting will still take effect unless you manually cancel the voted object or Clicking the Cancel Agent Permissions action will cancel all voting previously performed by the proxy.

A：BitCNY is an encrypted digital currency in the BitShares system, also known as the market anchor asset or SmartCoin, the Chinese name bit Renminbi. Compared with Bitcoin, BitCNY can be confirmed in a few seconds, and the price is stable at 1BitCNY = 1CNY. Since BitCNY has at least 1.75 times value behind it as a collateral, the holder does not need to worry that the third party will not promise to honor its value because He can sell BitCNY on the market at any time to get the bit stock of the equivalent RMB. From this point of view, BitCNY can be seen as an asset that does not require third-party endorsement, and its value is guaranteed by at least 1.75 times worth of bit shares behind it. BitCNY payment transmission is fast (3 seconds out of block). It has strong convenience and practicality and is immune to regulation.

A：Login or register your BTS account password directly using the BTS++ account mode. The private key or wallet mode can be entered or imported into the wallet file. Bit stock exchanges are interoperable, so account passwords are commonly used in other BTS trading wallets. (web version of light wallet, bulging wallet, GDEX, SuperONE wallet, etc.).

Note：BTS++ is a decentralized trading wallet. Different from traditional centralized exchanges. Once the user's password information is lost or forgotten, it will not be retrieved. The password is a must-have for the operation of the user's account and must be kept in a safe place. Users are advised to register and log in with a relatively secure wallet mode.

5.1 Account mode

The normal user registration username must contain a number or the horizontal bar "-". To register an advanced username, you need to pass a lifetime membership as a referrer.

Account password: Users need to set a string of at least 12 characters, including uppercase and lowercase letters and numbers. The password corresponds to the private key that automatically calculates the account rights and fund rights. Therefore, you must keep this password in a safe place and you cannot retrieve it after you lose it.

Trading password: When you need a transaction transfer function, you need to enter the transaction password to unlock. This password is a device binding, so you will need to re-enter the new funds password when you change to a new device. Therefore, the transaction password does not have a security meaning when your account password is compromised.

5.2 Private key mode

The user enters his own funds authority and directly logs in with the private key, and can perform all transaction transfer operations. The right to modify the account private key cannot be modified.

5.3 Wallet mode

The wallet mode is different from other login methods. When the user registers, the wallet mode will give the user a wallet file (the file ending in .bin), which is called "bin file" here. The bin file can contain the user's account private key and the capital private key. When you log in in wallet mode, import the wallet bin file. Enter the password to unlock the right to use the bin file.

Popular example：The wallet mode is like a safe, which consists of a key and a digital password to form a security system. The wallet file is similar to the safe key. The wallet master password is similar to the safe password. You need to use both the key and the password to open the safe. Users are relatively more secure unless they lose both the wallet file and the wallet password. But that doesn't mean you can set a very simple wallet password.

● Import wallet files - wallet files (files ending in .bin) and wallet passwords.

● Import Method - Keep exporting and importing two devices under the same network WiFi and enter the prompt address. Finish the import.

● Wallet Password - When the user registers the wallet mode, it will be set to a master password, which is used to unlock the wallet file to obtain the private key usage rights.

A：Select the transferred asset, the name of the account holder, the remark information, and so on. Note: There is a 10-20BTS in the recommended account as a broadcast fee. There is no handling fee to complete the transfer.

A: Users can mortgage their BTS assets and lend the corresponding proportion of BitCNY according to the total value of the assets according to the mortgage rate.

Overview: In the BTS mortgage system, the relevant knowledge and concepts are relatively more. We try to explain it to you in a simple and popular way.

A Simple summary is the process of mortgage lending. There is no interest and repayment period.

8.1 Gage

The mortgaged asset is BTS and the mortgaged property will be frozen after the mortgage. In the mortgage system, the value of the collateral is determined by the feed price, ie, the amount of collateral (BTS) × the price of the collateral = the total value of the collateral.

8.2 debt

The corresponding collateral generates the borrowed assets BitCNY, BitUSD, and the like. The loaned debt assets have no interest and return period.

8.3 Mortgage, mortgage rate

Total value of collateral / debt = mortgage rate. The total value of the assets used for mortgage is at least 1.75 times that of the borrowed debt. In the case of the same value of the collateral, the debt that can be borrowed by adjusting the mortgage rate will also change.

Popular example1：Bitcarb now has 100,000 BTS, assuming the current market price is 1BitCNY=1BTS. Cancer has a collateral value of 100,000 BitCNY, which can be borrowed up to 100000/1.75=57143 BitCNY. The 1.75 here is the mortgage rate. You can also borrow only 5000, so the mortgage rate is 20 (100000/5000=20).

Popular exampleYou have a 100 square meter house (collateral BTS) with a total value of 100w per square foot (feed price) (total value of collateral). You can use this 100w property and bank mortgage to get RMB (borrowing debt BitCNY). In the end, you can borrow up to 100w/1.75=57w RMB (BitCNY) from the bank or borrow only 5w from your own choice. You can use your freedom to control your mortgage. Because there is no interest and return date, you can continue to buy a house and then mortgage the loan so cyclically. Of course, the overall risk will also increase.

8.4 Feeding price

The value of the mortgaged assets and the forced closing price are based on the feed price.

8.4.1 Get the feeding price

The feeding price is calculated by the current 27 witnesses collecting the price data of all the BTS major exchange websites on the market, and the intermediate value obtained after the statistics is the feed price.

8.5 Closing trigger price

When the total value of your collateral (the amount of collateral × feed price) is less than 1.75 times your borrowing debt. At this point, the execution will be triggered to close the position, and the system will begin to sell the collateral for the return of the loan. The feed price at this time is the closing price.

Popular example：Remember your house? Once your house worth 100w was mortgaged to the bank to get a 57w loan, now the total value of your property fell to 1.75 times (57 × 1.75 = 997500) when your property fell. The bank will sell your property for the return of the loan.

8.6 Closing price

Closing the trigger price / 1.1 = closing the transaction price. When the market feed price is equal to your closing trigger price, the system will sell your collateral below the current feed price to repay the loan. At this time, the price of the pending order is the closing price (assuming the closing price is 1.5/1.1=1.3636 closing price)。

Popular examples:When the housing market declines, the value of your mortgage is no longer higher than your debt borrowing rate. The bank will sell your property at a discount at this time to ensure that debt can be recovered. The price per flat that is finally sold at a discount is the closing price. Suppose you mortgage at 1.75 times the highest rate, 1w flat, 100 flat, total value 100w property, lend 57w. At this time, when the house price drops to 9970 square meters, the value of your property is 997,000 at this time. At this point, your collateral value can no longer meet 1.75 times your loan debt (borrowing 57 × 1.75 = 997500). The bank will sell at this time at the price of your property / 1.1 (997000/1.1 = 906363). The remaining assets (906363-570000=336363) will be returned to your account after the deduction of the debt loan for 57w.

8.7 About target mortgage rate

The target mortgage rate means that after the system triggers a forced liquidation, the system does not sell all the collateral at one time for the return of the debt loan in the process of selling your assets for the repayment of the debt. Instead, it will be returned as soon as it is sold, and will stop selling your collateral after reaching the target mortgage rate you set.

Note：The target mortgage rate is at least 1.75.

Popular examples:When the total value of your current property is no longer met and the minimum loan is between 1.75 times. The bank will then start selling your property to return your debt. The difference is that if you set the target mortgage rate, the bank will calculate the market price in the sale process, and after selling a certain collateral repayment, you can return to the target mortgage rate you set. For example, after selling 10 square feet of your property, the mortgage rate between your debt loan and collateral returns to the previous set of 1.75 times, and then stop selling the remaining area of your property.

Note：The target mortgage rate is at least 1.75. At the same time, the current mortgage system requires you to set the target mortgage rate after the mortgage debt changes (which should be optimized later).

A: The gateway is a trusted transaction that speeds up the value of the in and out of the bit stock network. To accomplish this, the gateway issues redeemable debits as an alternative severable asset on the block of bitchain blocks. If the issuer is reliable, these terms will be traded at face value and thus have a role in the transaction. Just like a bank issuing a draft, third parties don't know each other, but can accept payments without worrying about personal check overdrafts. This service is very effective because reliable protocols can speed up third-party transactions. The difference with bank drafts is that digital data is issued by the gateway, which is more flexible and easy to use. The BitShares Network allows anyone to issue digital assets, UIA. These assets can be used to record company shares, deposits, and other uses. The issued assets can be freely traded with other types of assets, including fixed-price anchored assets such as Bit Dollars and Renminbi, on the BitShares Network.

All operations of the traditional centralized exchanges are carried out through the exchange itself, that is, the exchange carries all the data, which is not transparent enough and has a large human factor. The Decentralized Exchange is an open, auditable book that allows everyone to view detailed data and validate transactions, market orders and order data, reduce information asymmetry, and ensure its authenticity.

A: There are two kinds of transaction fees and broadcasting fees in the BTS system. The BTS transaction fee is charged by the asset issuance account. At present, the BTS transaction fee is one thousandth, which is managed by the board of directors to support daily expenses such as worker wages. The broadcasting fee is charged as a broadcast confirmation fee on the blockchain when the pending order, transfer, and adjustment of the mortgage change. The details of the specific fee can be viewed here。