DECENTRALIZED SMART CONTRACTS
The Block is built on the decentralized Ethereum blockchain using smart contracts. This means that it lives on the Ethereum blockchain, on thousands of computers world-wide, making it decentralized and resistant to the kinds of attacks that can take conventional websites offline. There is no need for a seller to keep his computer online 24/7, which is the case with the OpenBazaar market. The blockchain keeps every item available at all times, to everyone, and the blockchain also means there is no single point of failure.
LOW FEES
Bitboost allows items to be made available for sale for the extraordinarily low cost of USD 1 per listing. The Block doesn’t charge any fee to purchase items. The Block takes no percentage from your final sale price.
ESCROW SYSTEM
Trading over an anonymous, decentralized system poses a challenge - how do you know you can trust other users? We will offer an escrow service guaranteed by Bitboost itself. The buyer sends a payment to the escrow system, and the payment will be released to the seller only when goods have arrived in the conditions in which was described in the listing. Bitboost's open source escrow system is open to all providers, so sellers can designate any provider they wish to serve as the escrow agent. Disagreements are handled through arbitration by the escrow provider.
REPUTATION SYSTEM
Every seller or buyer will have a rating derived from his/her reputation during and after every transaction, so as to protect all users from scams or lack of seriousness. This system will allow buyers to exclude fraudulent users and reward fair traders.
CUSTOMIZABLE
The Block is available as a native app on all major desktop platforms: Windows, Mac, and Linux. The app includes support for themes, and come with two themes built in. Users can bookmark searches, sellers, and items, for later use. Privacy level settings let users chose the arrangement that works best for them; for instance, users can chose between using their own copy of the Ethereum blockchain, or a remote copy maintained by the Bitboost developers. Users can be known to other users by their Ethereum address, or they may choose an easy-to-remember alias.
EASY TO PAY AND BE PAID
The Block has a built-in wallet that stores Ether, the native currency of Ethereum. Purchases are made directly from this wallet, and sales revenue goes directly to this wallet. Users can buy Ether from within The Block using BTC.
BLACKLISTING
To make The Block as inviting as possible to all users, it includes a built-in blacklist that filters out sellers of certain questionable goods. This blacklist is turned on by default, but can be turned off by the user. This blacklist is maintained by the developers, but users can also use third-party blacklists that cater to their particular needs. Users can, for instance, subscribe to a blacklist that filters out items that are not permitted in their own jurisdiction, but that are permitted elsewhere. This helps the user be compliant with their local laws, while still using a global app.
SHAPESHIFT
The limits vary over time. If you use the “Advanced” option, you can set the amount to buy to the maximum available. In the Simple option, you can buy 1, 5, 10, 20, or 50 at a time. Max tends to be around 190. Every time you make a request to ShapeShift, they give you a new address to send your BTC to, and the 10 minute countdown starts. The ETH gets sent to the user’s Wallet directly. Every request is separate.
CENSORSHIP RESISTANT GLOBAL MARKETPLACE
The Block runs on the Ethereum blockchain, making it inherently resistant to censorship attempts. No central authority controls the blockchain, and transactions can be completed in a trustless manner, with no third party involvement.
TRANSPARENT
It built on Ethereum’s smart contracts, every transactions on The Block will be copied on Ethereum blockchain, using a system trustless.
NO REGISTER NO IP
User doesn’t need to register using own personal data, but only alias or your ETH address.
BUILT FOR THE GLOBAL MARKETPLACE
The Block works in many languages. At launch, the app will support 20 languages, with more to come. The Bitboost teams wants to lower barriers to trade, and making the app work in as many languages as possible is part of this effort.
ENCRYPTION IS BUILT IN
Although all transactions are on the blockchain, not everything is public. Messages between buyer and seller are encrypted, and personal information (such as shipping address) is also encrypted, by default.
USER INTERFACE
The user interface has been designed to be clear and easy to use. Item listings can include a description, images, shipping options, and tags for easy searching. The Block is simple, uncluttered, and ad-free.
ALWAYS ACCESSIBLE ALWAYS ONLINE
Your item is always online, thought your client is off line. No single point of failure.