Now that the initial funding rounds are over, we can focus on developing and beta testing The Block in preparation to go live with our app in Q2 2018. BitBoost will be adding more developers to our team, improving The Block, and seeking more advisors with e-commerce experience. Learn about our company, platforms, and the new BitBoost Token here!
Where can I get BBT?
You can also buy BBT in exchange for ether on The Block once the app is live. BBT were available for purchase during our pre-sale and main sale events in 2017. BitBoost will be having more sales in the future. Contact us if you are an interested investor.
What is the BBT?
The BBT (BitBoost Token) is a utility token that powers listings. Sellers pay $1 in BBT to put an item (or items) up for sale. We keep it simple! The price of BBT will fluctuate as the value of the token changes, but users can depend on the $1 listing price to remain the same. The cost of the item(s) in the listing does not matter, nor does the number of items - in the case of multiple, identical copies being listed together.
BBT complies with the ERC20 standard and will be freely transferable on the Ethereum platform. BitBoost tokens do not indicate ownership of the company, will not pay dividends, and BBT holders will not earn any interest.
Why use a token?
This token is an integral part of The Block’s economy, and its value will reflect the degree of penetration and activity within the platform. The more merchants are listing items for sale on The Block, and driving customer adoption, the greater the demand for BBT will be. As The Block’s popularity grows and more merchants join the platform, more features will be released, which will further increase the interest among buyers and sellers. The recycling of BBT will provide funding for future enrichment of The Block.
I bought BBT during the
pre-sale - main sale!
Thank you for being an initial investor! You will be a key figure for the future growth and operation of The Block. Given that we already have a beta version, buyers will be able to use their BitBoost Tokens much sooner than the average new token. We plan to release The Block to the Ethereum Live Net in Q2 2018, so BBT holders won't have to wait years to use their tokens!
For now, we recommend that you keep your BBT in myetherwallet. If you do not have one yet, visit https://www.myetherwallet.com/ and use the “Create New Wallet” function on the home page. Then, you will need three pieces of information in order to prepare your wallet correctly:
– Address: 0x1500205f50bf3fd976466d0662905c9ff254fc9c
– Token Symbol: BBT
– Decimals: 4
After you log in to your wallet, click the “Add Custom Token” button under “Token Balances.” Enter those three pieces of information as shown above, and click “Save.” Your wallet is now ready to accept BBT.
During the beta testing period, if you have real BBT do NOT keep it in your Block Wallet. Using real BBT during the beta testing period will result in the loss of these valuable tokens! We have created "test BBT" for the purposes of testing our beta versions. If you would like to participate in the beta test and get to know The Block, please register
Once The Block is Live, you should keep at least a few BBT in your Block Wallet so you can create listings... if you want to be a seller. Buyers do not need BBT, just ether.
The Block is an app developed by BitBoost. It is a global, encrypted, online marketplace where you can buy and sell with privacy. For a good introduction, check out our video above.
The Block is an application that you install on your computer. It is available for Windows, Mac, and Linux. It is built on the smart contract blockchain Ethereum, and is therefore completely decentralized.
To use The Block, just download and install the application, and then create a Wallet. You can load your Wallet from within the application.
No, there is no registration process, and you do not need to disclose any personal information. You only need to create an Ether wallet, which is part of the initial setup process when you run The Block for the first time. Ether wallets are anonymous.
Do you like privacy? The Block doesn’t require you to enter any personal information at all. Do you like low fees? The Block charges very low fees. Tired of being under surveillance all the time? The Block doesn’t collect and sell your information.
The Block does not require any personal information, nor does it track you in any way. Transactions are written to a public blockchain (Ethereum), but accounts are anonymous. By using best practices, you can keep your account anonymous if you choose.
Yes. Messages between buyer and seller, including address and shipping method, are encrypted.
We want The Block to be available in as many languages as possible. If you are able to translate into your native language from English, please contact us.
It is possible to fill or refill your Wallet in two ways. Once you have created your Wallet, you may either send Ether to it directly, or you may buy Ether from within the Wallet, using Bitcoin. A tutorial on Buying Ether is available on the Tutorial page here.
Not yet, but multiple wallet support is planned.
BitBoost does not encourage or support the sale of illegal items. Be aware that The Block is built on a public blockchain, and law enforcement can track illegal items. Do not use The Block for criminal activity.
Your item listing lives on the Ethereum blockchain, so you do not need to be online for your item to be found by shoppers and purchased.
The listing fee for an item is only 1 USD, paid in BitBoost tokens. The BitBoost token fee will be adjusted frequently to stay as close to 1 USD as possible. The price of a BitBoost token will depend on the market. Unlike other popular markets, The Block takes no percentage from your final sale price.
Not at the moment. However, you may buy Ether using Bitcoin from within your Block Wallet. We are investigating how to offer support for other currencies, including Bitcoin and Komodo. A tutorial on Buying Ether is available on the Tutorial page here.
Your password is important. Do not lose or forget your password, or you will be unable to access your Ether. Since The Block is completely private, the developers will never have access to your information or passwords. They cannot help you if you lose your password, so be careful.
If a seller chooses to offer an item for sale with escrow protection, then the seller must select an “Arbiter.” When a buyer purchases an item with escrow protection, then his funds do not go directly to the seller, but instead are locked in escrow. The Arbiter is a third party who takes control of the escrowed funds in the event that the buyer or the seller opens a dispute. It is the job of the Arbiter to review the dispute and distribute the escrowed funds as he sees fit. If there is no dispute and the buyer and seller both finalize the transaction, then the escrowed funds are released to the seller automatically, with no Arbiter involvement.
First, you purchase the item by clicking the Buy button. Ether will be withdrawn from your wallet and placed in escrow. The seller must approve the purchase and send you the item. Finally, both you and the seller must mark the transaction as completed for the seller to be paid, or either one of you may open a dispute with your selected Arbiter instead.
A list of known Arbiters will be available at the BitBoost website soon.
To act as an Arbiter, a seller simply has to use your Ethereum address as the “Arbitration Provider” when listing an item. Any disputes will then fall to you for resolution, and you will have control of the escrowed funds. It is up to you to set your fees, but understand that you will be competing with other Arbiters for sellers’ business.
It is necessary to log in to unlock your Wallet. Your Wallet is protected by your password, so you may only buy or sell if you logged in first. In other words, you are logging in to access your own Wallet, which stored on your own computer. A tutorial on the Login Function is available on the Tutorial page here.
Filters are a way for you to control which items you see in The Block. There is no censorship in The Block, but some items are filtered from view by default through blacklisting. The BitBoost-maintained filter is turned on by default, but it is possible for you to turn it off if you want to see a completely unfiltered view of all items available in The Block.
Filter controls are in the Preferences section of the application.
While the developers provide a single, default filter, it will be possible for you to subscribe to more than one filter. For example, you may wish to subscribe to a filter which only removes items that are illegal in your jurisdiction, or that are inappropriate for children, or that are forbidden by your religion. We hope that providers will make a wide variety of third-party filters available.
You will be able to subscribe to filters in the Preferences section of the application.
Yes, you can rate both buyers and sellers on The Block. Reputations are important in establishing user confidence. We will be making every effort to improve this system as we go, to ensure as much user integrity as possible.
Be sure to check the Planned Features, to make sure your idea is not already in development. You may send feature requests from within The Block application, using the Feedback feature, or by writing to us directly: [email protected]
BitBoost is based and incorporated in Zug, Switzerland. Our team, however, is global.
Some members of the team have been working together for over ten years. The first e-commerce blockchain app we released was in 2015. BitBoost as a company was officially incorporated in early 2017.
The core development team is:
Andrew Lekar, Smart Contract Developer
Paul Mahone, Lead UI Developer
Max Sergeev, Application Architect
We strongly believe in the power of trade to change peoples' lives. We envision a global economy in which all participants can do business with each other peacefully, eﬃciently, and privately, regardless of their location and without interference, censorship, or high fees. We will work with the community to develop The Block and meet these goals.
If you have skills related to Smart Contracts, cryptography, Angular 2, or UI/UX design, we’d like to hear from you. We are always looking for new language translators to help us localize The Block for as many regions as possible. And, if you have an idea for making The Block a better app, talk to us. We might have a spot for you.
We are looking for Advisors who have experience in e-commerce and are familiar with blockchain technology. Those with banking connections would also be extremely helpful to our long-term goals.