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Zug, Switzerland – Particl, an open-source project building privacy focused decentralized applications, has released the Alpha MVP version of their Particl Marketplace – a disruptive way to buy and sell goods online. Released May 31st, 2018, the marketplace is a new featured application within the project’s flagship application, Particl Desktop.
Particl’s decentralized marketplace is private by design and is a highly scalable and secure solution for e-commerce. Built to be a trustless solution – in a sea of online shopping sites with go-between intermediaries and fees – that has privacy at its core instead of as an after thought.
The Alpha release of Particl Marketplace is a minimal viable product (MVP) that showcases simple steps for shoppers and vendors to transact in a truly peer-to-peer (P2P) setting without any third-party interaction. Even the Particl escrow solution is only between a buyer and seller, which is controlled by a multi-signature contract instead of a moderator like competing decentralized marketplaces.
Future releases of the Particl Marketplace will transition from testnet to mainnet as features such as Governance, more cryptocurrencies, ratings, reviews and Ring Confidential Transactions (RingCT) get designed into the platform. PART, the native privacy coin of Particl, is the only coin built on Bitcoin’s latest codebase (0.16) to use Confidential Transactions to obfuscate transaction amounts.
The team’s implementation of RingCT is currently being reviewed thanks to a grant to the New Jersey Institute of Technology (NJIT). Ultimately, all transactions running through the Particl privacy platform, including the Particl Marketplace, will leverage RingCT to provide the highest level of privacy to both shoppers and vendors.
Also expected in a future Beta release of Particl Marketplace is a Governance system that gives full, decentralized control to the users of the platform. Not yet implemented, this is one of the main differences between Alpha and Beta. While neither the Particl team nor the Particl Foundation currently has any control to remove listings or vendors on the marketplace, the testing environment allows a reboot option if necessary. Once on mainnet, a decentralized, self-governing mechanism will be in place to allow users to report, vote on and kick off any bad actors abusing the Particl Marketplace.
Particl is a decentralized platform with a native suite of tools to enhance and protect your online privacy. Still less than one year old, Particl has added a number of firsts to the protocol’s basecode (Bitcoin 0.16). These include Confidential Transactions, Ring Confidential Transactions and PoS Cold Staking where all coins are safely stored offline while dedicated online staking nodes – which hold no PART – work on their behalf within a multi-signature contract. Particl Marketplace is the project’s MVP and is private by design.