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OpenBazaar, the decentralized future of online markets.

#1
Hello all,

So what's that OpenBazaar ?

I really like this project and I think it has a big future, so I decided to write a bit about it . OpenBazaaar utilises Bitcoin (and now Bitcoin Cash and Zcash) and Cryptography to compete with the likes of eBay, enabling pure Peer-Peer transactions without a middle manipulating the entire scheme for their benefit. The vendor would choose an auction style contract. The needed subdivision in the file will include:
 -Item name,-Description,-Minimum sell price,-Item name,-Buy now price,-Expiration date,-Empty space for bidders to place Bids. The language that the project is being done in is primarily Python ! :) The vendor can be safe that the find for the contracted item actually exist when the buyer has forwarded the agreed amount of Bitcoins to the multisignature Bitcoin address. The seller would the complete the exchange with the purchaser. The Customer could also be refunded from the multisignature address if the arbiter is satisfied with his proof that the item was defective or didn’t arrive etc.
The only thing to consider is if you want your listings staying on the market , you will need leave OpenBazaar open. So you can run it on a Raspberry PI or a VPS for example.

Here is how you install it on a VPS:You can then choose your OS. I recommend Ubuntu, it makes things easier.
  Once you’ve rented a VPS, chosen and installed your OS, you should receive instructions on how to ssh into your machine, or some VPS allow you to access the terminal via web interface.
It can sometimes take a long time to generate a key pair. If you run this command first, it will speed up that process considerably:
Code:
sudo apt-get install haveged
 How to run your Node:Assuming you have configured your VPS and SSH client correctly, all you have to do is start a session with your VPS and navigate to your OpenBazaar folder to run the node
.The best way to do that is to run your node with UPnP disabled and forcing the node to use port 8888 (doesn’t have to be port 8888, you can select any port number you want… just make sure your SSH client is forwarding the right port to your local host). This can be achieved through the following command:
 
Code:
./openbazaar -q 8888 --disable-open-browser start

Recommended: Your node will go down the moment you disconnect your SSH session. To keep running your OpenBazaar node after your session has ended, enter the following command to run your node (instead of above):
Code:
$ nohup ./openbazaar -q 8888 --disable-open-browser start &

Open up your browser and enter the following address to access your OB node:
Code:
127.0.0.1:8888

I really think OpenBazaar could be the future of truly decentralized markets and the community around is becoming bigger and bigger and the app is evolving quickly too.

Thanks for reading, let me know your thoughts on this if you want, I'll appreciate it ! for real

cheers everybody have fun and stay safe :)
[-] The following 1 user Likes anna0's post:
  • SonLight
#2
Thanks for the info. I wasn't aware of OpenBazaar, but at your suggestion I examined their web site. I see there are only a few things for sale right now. The real point is that this is a new technology and it may be valuable to get in on the ground floor. So far, I have downloaded the node software and will consider running it on my desktop computer, and leave power on 24 hours/day. I want to read a bit more about the project before I'm brave enough to install it, though.
  




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