Stan Larimer is the co-founder of BitShares and Cryptonomex and he is on our advisory board now!
If you’re out of the loop… Who is Stan Larimer?
Stan Larimer is a prolific blogger, keynote speaker and expert consultant on real-time industrial grade digital currencies. He is CEO of Cryptonomex, cofounded with his son Dan Larimer, the originator of blockchain technologies that currently process over half of all public blockchain transactions in the world. These include BitShares, Steemit, Peerplays, Muse, Golos, and next year EOS. BitShares and Steemit each exceed Bitcoin and Ethereum combined records for daily transactions and together they surpass the rest of the industry.
Stan has used his MSEE degree to teach rocket science at the US Air Force Academy and to develop unmanned air, ground, sea and space “drones” for 40 years with aerospace giants such as Lockheed Martin, Northrup Grumman, Boeing, General Dynamics, and SAIC. These days Stan develops unmanned companies. Stan has led engineering deployments from Cape Canaveral in 1998 to western test ranges in 2001 to Fallujah, Iraq in 2008 to the parking lots of Duke University and the Durham Bulls in 2011. He cofounded Invictus Innovations in 2013, Cryptonomex in 2015, Steemit in 2016, and Heronomex, Hero Hub, and Hyperion in 2017.
What is Cryptonomex, BitShares and Steemit?
"Cryptonomex, the “Godfather” of BitShares and SteemIt, was founded in Spring 2015 to give the BitShares development team a chance to get financial credit for some of their own sweat equity. It was born at the Virginia Tech Corporate Research Center in Blacksburg, Virginia", — says Larimer.
BitShares it is a platform, cryptocurrency, community, bank, exchange, network, register and brand of open source software based on a blockchain technology. A unique blockchain is developed and supported by an international group of blockchain enthusiasts.
On the basis of the BitShares market participants have the opportunity to create decentralized autonomous companies (DACs) based on smart contracts. Thanks to DAC, various companies can automatically sell shares and redistribute profits between shareholders.
BitShares technology was also used to create a decentralized Bitshares DEX crypto exchange, which has Russian localization RuDex.
Steemit is a decentralized social network with a payoff to active participants in the system. Unique content is appreciated here. The Steem blockchain produces STEEM and Steem Dollars which are tradeable tokens users obtain for posting, discovering, and commenting on interesting content.
User accounts can upvote posts and comments, and the authors who get upvoted can receive a monetary reward in a cryptocurrency token tokens called Steem Dollars. People are also rewarded for discovering popular content. Curating involves voting comments and post submissions. Vote strength and curation rewards are influenced by the amount of STEEM Power held by the voter.
Steemit has a reputation system, where new accounts start with a reputation of 25. An account’s received votes can influence its reputation up and down, incentivizing online etiquette and interaction with the community.