Topic: [ANN] Syscoin- FINAL 2.0 LAUNCHED! *ENCRYPTION, MARKETPLACE, BTC INTEGRATION* - page 69. (Read 582967 times)

+1 love it!! cant wait to get home and play around with the market some.

To use the service you use sys and to get full features and benefits you would accept payments in sys but no restriction.. They dont have to change their business to accept crypto but those that are willing to change should get the benefits.

Sync well Sys coin to get well about....

I think you should force people to use at least 1 kind of digital currency. For some maybe Mazacoin feels more naturally to use, while others can identify them selfs more with Friendshipcoin2.

+1 exactly.. Dont force others to use a currency let them decide.. But give them the technology thats useful and let them decide. mario please refer to this.

In theory we do have data aliases we can do this but i dont think we should be storing images.. There is low value there.. However it may be possible once we implement some sort of pruning to allow the blockchain to "shrink" for unused services that have long expired.. That is best of both worlds between openbazaar snd a blockhain approach.. Because you can control expiry through updates..

I am curios, how will you handle with the scalability (blockchain bloat)?
Sellers will be able to upload images as well or only links to images?

Cheers

I think the back end process of every transaction need syscoin, such as making an item listing, offer, etc, Syscoin would act as the token or tool to carried out the transaction process, even when from the customer side the whole process is done with USD or BTC.

For example, i own a website with integrated marketplace/cart using blockmarket tech then If buyer pay with BTC, the operator of the site (me) would have to connect to 3rd party payment gateway or operate the gateway myself to convert the payment in to syscoin or other currency i choose, of course i as an market place operator would own certain enough amount of syscoin to facilitate all user transaction in my marketplace. The entire transaction then would be recorded in blockchain and i would have my admin/finance tool to extract the blockchain data for internal administration, tax, or other financial report.

I think that's why syscoin need the amount of that, to accommodate the number of future transaction from many marketplace, let say that if each transaction require at least 1 sys then 2 billion sys would at least can process 100-500k transaction/sec maybe more, and it would be far more easy for my employee to input record of transaction cost/fee if it's in 15 or 150 sys not in 0,000015 sys.

Can you explain a bit more of this? If a buyer wants to get paid in another crypto currency, then Syscoin would not be needed. Just the block market right? Then why would we need Syscoins? Btw why is there such a huge amount of Sys? 2 billion is such an immense quantity. I think that's the main reason why the price is so low. Have you guys thought of bringing it down? Or is that not part of the plan?

You mean that the Syscoin blockmarket will be able to accept other crypto currencies as payments other than Sys if the buyer wants to? Something like what UNB Auctions is doing? Its an auction site that accepts dozens of crypto currencies as payments for the selling goods.

No not for the foreseeable future anyway.. By the time it becomes an issue we will have solved the problem.

ok. another thing i was curious about, will this size blockchain change the difficulty and affect the other coins that are merged mined? will there be enough miners to support/secure a bloated chain?

No your on the markthats why openbazaar and shadow used p2p and after say 48 hours if noone hosts the offer it is deleted.. however on ours it stays so one think im thinking about is blockchain pruning of expired offers to reduce size.. this is something that was thrown around by bitcoin devs but dont make sense on that chain but might make sense on expired services on our chain.

im curious, by adding all this to the blockchain, will it not become bloated? will the old sales stay in the blockchain or will they come out and the entire chain have to be reloaded? or am i completely off mark?

Remember blockmarket will be open source, so devs are free to add their own ratings system on top of it, off chain. If they submit a pull request we'll happily integrate this into the core Blockmarket code after we review.

We do have plans for on-chain buyer/seller ratings which will be derived from escrow results once we've implemented the escrow feature shown on the roadmap. Basically buyers who close open escrows promptly because the merchant did their part will get improved ratings. Merchants or buyers who act in bad faith, don't ship items or fail to "close" the escrow loop will get lower ratings. It's all implicit based on the results of the merchant actually delivering and the buyer confirming that fact. The system is still being designed but tl;dr answer is YES soon at the daemon/blockchain level and possibly sooner once Blockmarket is open source and devs are able to expand upon it.

GR8 job guys!

OpenBazaar is a p2p system that is not on a blockchain, you have to download a program for you to be able to actively use it and keep it open. They say it's decentralized but it completely relies of the programming of coders for that specific software. It's sort of like torrents but instead of trading software, you are trading anything.

Syscoin has all trades directly on the blockchain, provable, un-hackable, easy to implement on your own website (once we are out of beta). This basically removes the need for SSL on a website (although you may still want it if you are keeping private information on your server but don't need to to sell your products). You can trade anything like openbazaar but like I said it's all on the blockchain, leveraging the power of this technology for not only trades but certificate issuance. Syscoin also has an alias system which imo is pretty great, you can easily send and receive SYS to an alias instead of a 30 character random address -- so you could create an alias called xxxgoodgirls and anyone could send syscoin to xxxgoodgirls instead of having to copy paste a huge address, very practical as opposed to the current bitcoin/altcoin way of doing it. It's kind of hard to compare the two honestly, openbazaar requires the use of bitcoin plus a separate market, Syscoin has it all integrated; we are also working on SyscoinPricePeg which will allow you to price anything in your own currency, so you won't even have to deal with other currencies like bitcoin or another altcoin. And there's much much more in store too

Can someone sum me up the differences between Sys marketplace and Openbazaar please?
Cheers.

Innovation nice did Syscoin..needs more improvements for more progress.....

Will the blockmarket have seller/buyer rating feature?