All the features available in the app right now.
BitBoost Marketplace has no centralized authority - it's built on the Ethereum blockchain using smart contracts. Transactions are completed in a trustless manner, with no third party involvement, which means no one has to rely on trust for the system to work. Transactions cannot be censored. Listed items are available at all times with no need for sellers to stay online 24/7, since BBM runs on thousands of computers worldwide. This makes it resistant to the kinds of attacks that force conventional websites offline. Decentralization equals greater privacy, freedom, and stability.
Stable and fast
Searching is instant, happening as you type. BitBoost has enhanced the app with caching servers around the world to speed up interactions with the Ethereum blockchain.
When you first log into BBM, you are asked to create an account and a wallet. This process generates an Ethereum address for you, which is also your identity on the app. If you do not wish to be known to other users by your Ethereum address, you will have the ability to choose a Sig, short for "signature". You can also privately assign Nametags to other users, to help you remember them.
Although transactions will be on the blockchain, which is public, messages between buyer and seller are encrypted. Personal information (such as shipping address) is encrypted by default. Your personal information is protected from any kind of leak or attack.
BitBoost Marketplace 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 into it. Users can buy ether from within the app. We are already working on more ways to make payments easier for users, especially for those people not yet familiar with digital currencies.
Due to its unique architecture, BitBoost is able to reduce our only fee to less than 1% of the cost of goods sold (and even less if paid in BitBoost tokens). List as many items as you want without paying an upfront fee. If nothing sells, you don't pay. Even image hosting is free.
BBM is available as a native app on Windows and macOS desktop platforms. (Linux is coming soon.) The app includes several themes for you to choose from. Users can bookmark items for later use. Pick a Sig for yourself or nickname your favorite sellers. Even more options are planned.
In the case of a dispute between buyer and seller, an arbitration service is available. We encourage sellers to choose an arbiter, as it increases their trust level and also the probability that purchases will be made. If both parties dispute a transaction, the seller will pay the arbiter out of the escrow funds. For buyers, arbitration is always free of charge.
Trading over an anonymous, decentralized system poses a challenge - how do you know you can trust other users? BBM provides an escrow system, guaranteed by BitBoost. Buyers send payments to this escrow system. Payments are released to sellers only when goods have arrived as expected. Any disagreements will be handled through arbitration, further reducing risk. BitBoost's escrow system allows sellers to designate any provider they wish to serve as their arbiter.
At launch, our app will support many common languages. We plan to add as many as we can over the lifetime of our app, so that our marketplace is as globally friendly as possible. The BitBoost team wants to lower barriers to trade. We feel that access to a global marketplace is an option every human being should have. If you'd like to contribute translation services for a language we don't yet have, get in touch with us. We'd love to hear from you!
Every seller and buyer will have a reputation rating derived from their conduct during every transaction. Users with a low or negative reputation score may be filtered out, in order to protect other users from fraud and wasted time. This reputation system will encourage legitimate merchants and customers to act honestly and to build up a solid reputation. Arbiters will also be rated.
That's not all. We have more features planned for the future,
and we want to hear from you about the new features you'd like to see!
We're very excited to be building mobile versions of BitBoost Marketplace for iOS and Android. This is a feature that is at the top of our planned features list, because mobile devices are so important to our users all over the world. You should have the freedom to choose when and where you use the app. (We're looking forward to it too!)
Ether, like all cryptocurrencies, is volatile, changing in value on a daily basis, relative to national currencies like the dollar and the euro. To improve your experience with the marketplace app, BitBoost is developing an integrated payment system that works like ether, but converts to currencies (like the dollar and euro) at a ratio of 1:1. Finally, items can be priced in a national currency, and you will know exactly how much you're spending or being paid. Eventually, we'd like to make it so that you only need one currency, the one you choose, to do everything you need in the app.
To make BitBoost Marketplace as inviting as possible to all users, BitBoost will maintain a filter to screen out only the items that are illegal everywhere, as well as sellers with extremely poor reputations. Ultimately, the choice of what you see should be made by you, so we plan to give you the option to create your own filters in the future.
The Tor Project has been a boon to millions of people, and for some of our users, Tor is the only way they can use the internet in safety and privacy. We will support the Tor protocol within the app, so that everyone can trade peacefully.
We understand that our users have different needs and desires, based on where they live, their personality, their religion, and many other factors. In the future, we will enable our community to create a wide array of filters that will satisfy the needs of everyone. You will have the chance to get creative; build filters that will benefit the global community, or maybe just build one for yourself!
You may wish to maintain different wallets and Sigs for different family members, or for yourself if you are running several shops specializing in different goods. Multiple wallet support will let you do this, so you can keep some of your money and transactions segregated from others.
Improved reputation system
This is something we will always be working to improve, as it is so important to a successful marketplace.