Particl has launched the Particl Open Marketplace. Fully decentralized and completely private, the Particl Open Marketplace is built with proven P2P and blockchain technologies, creating the world’s most private, secure and affordable online platform for buyers and sellers. Built in keeping with the Particl core commitment to privacy, Open Marketplace is poised to disrupt eCommerce with its ability to directly connect vendors and buyers at virtually no cost for either party. Its entirely decentralized and autonomous architecture creates a friction-free marketplace, allowing anyone to safely buy products and services online and pay for them using cryptocurrencies.
Integrated directly into the Particl Desktop, Particl’s flagship client, the Open Marketplace was designed to provide an easy, intuitive user experience for crypto experts and newcomers alike. From there, both buyers and sellers will benefit from a highly efficient and affordable P2P platform that delivers on Bitcoin’s original promise by eliminating third parties from the picture.
Since vendors do not need to pay any fees to the Particl Open Marketplace (except for a small anti-spam listing fee), buyers can realize savings of up to 40% as compared to traditional online marketplaces. Highlight features of the Particl Open Marketplace eCommerce experience include, no fees for buyers, and virtually no fees for sellers, no identifiable data generated or collected by any 3rd-party, no registration or account creation, Full escrow support and untraceable currency transactions.
The Particl Open Marketplace is powered by Particl’s PART privacy coin, which is supported by the Ledger hardware wallets. Additional confidence is inspired by the marketplace’s fee-less and decentralized escrow, which integrates the fully anonymized RingCT privacy protocol and doesn’t rely on any third party for issues to be resolved. Based on the Mutually Assured Destruction (MAD) game-theory, the Particl Open Marketplace escrow system requires both sellers and buyers to enter a 2-party smart-contract. Payments and security deposits are refunded, in full and without any fee, to the participants when both of them mark the transaction as complete.
Since there is no third-party controlling the platform, moderation of the Particl Open Marketplace is achieved through a completely decentralized governance mechanism. Similar to the Reddit model, anyone in the community can flag undesirable content on a one coin = one vote basis.
“The Particl Open Marketplace breaks boundaries in eCommerce, introducing the first privacy-focused decentralized marketplace of its kind,” says Paul Schmitzer Particl Project Marketing & Strategy. “Concerns about online privacy and data harvesting have never run deeper than they do today. With the extreme privacy, security, and affordability of the Particl Open Marketplace, buyers and sellers are regaining control of their eCommerce experience.”
“Using a combination of P2P and blockchain technologies, the Particl Open Marketplace is able to provide a verifiably private shopping experience that ensures no user data can be created or collected by any party other than the one you are transacting with,” Paul adds. “The Particl protocol also brings the cost of buying and selling online to the bare minimum as no central entity has the ability to charge fees.”