Decentralized Market OpenBazaar Launched on Testnet









Administration of decentralized market OpenBazaar has introduced it launched the platform on a testnet.

The announcement on the mission’s official weblog reads:

“OpenBazaar is now fully functional on the testnet. We welcome rigorous testing from the community to ensure everything is functioning properly. […] After we’re confident of the stability and functionality of the product, we’ll transition to the main net and OpenBazaar will be open for business.”

The take a look at model of the platform is accessible for downloading on the official web site.

OpenBazaar has been below improvement since spring 2014 as an answer for issues darknet markets face in regard of trustless transactions, deal safety and decentralization. However, because the mission progressed, it has shifted its focus in the direction of small retailers.

OpenBazaar in its present kind bears some resemblance with eBay-like platforms. However, it might pose a menace to them, because it empowers customers to commerce with their friends with none intermediaries concerned.

Possible fraud challenges are coated via utilizing a multisig tackle managed by the vendor, the customer, and a trusted third get together. The third get together might intrude in case any dispute arises.

Summer 2015, OpenBazaar has raised $1 million of funding. Investors of the mission included Andreesen Horowitz and Union Square Ventures.

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