Spl.yt Core is a blockchain-based self-regulating social utility that is publicly-accessible and easy to use. Spl.yt’s seamless integration with existing online retailers redefines ecommerce using smart contracts and Spl.yt’s own ERC-20 compliant crypto-token. This serves to help any buyer, seller, marketplace, or ecommerce party improve their experience and maximize value.
Spl.yt Core’s development will be overseen by the Splyt Core Foundation, a nonpartisan, non-profit entity. Spl.yt Core boasts the following capabilities to help ecommerce applications better support users who buy, sell, and manage goods on their platform:
Spl.yt Access Token (“SAT”) : SATs are intended to secure the integrity of the Spl.yt ecosystem by serving four primary functions:
1. Access to buy and sell inventory on the global inventory blockchain
2. Disincentivize disingenuous behavior, including spamming the network, defrauding other ecosystem members, or failing to engage in real-world behavior that mirrors on-chain agreements;
3. Incentivizing competitors to pool efforts that are redundantly carried out in the legacy system, reducing barriers that cause oligopolistic corporations to thrive in the current ecommerce regime; and
4. Compensating individuals, such as arbitrators and listing validators, who help ensure the integrity of the Spl.yt ecosystem.
Decentralized Global Inventory : Multiple websites and platforms can contribute to and use Spl.yt’s shared inventory listing base, competing instead on other significant business differentiators, such as shipping prices, support services, specialized competence, etc. For example, if Amazon, eBay, and textbooks.com were all built on Spl.yt Core, sellers of textbooks would list their textbooks once on one platform and the Spl.yt protocol would automatically populate their inventory on any other connected website. Conversely, a buyer of textbooks would only need to browse one website to compare products and prices. Once a buyer purchases an item listed with the decentralized global inventory, it will automatically de-list from every marketplace, avoiding any risk of double-purchasing the same item.
Sellers must deposit a small number of SATs to post an item with the decentralized global inventory to deter spam and fraudulent listings. These deposited SATs will be returned to the seller, distributed to other marketplaces, or sent to other users depending on the success and behaviors exhibited throughout the transaction. To learn more about Spl.yt and the decentralized future of e-commerce, visit Spl.yt Website:
https://www.spl.yt/
Spl.yt Lite Paper:
https://www.spl.yt/litepaper.pdf Spl.yt for Devs:
https://www.spl.yt/devs.html Live dApp:
http://demo.spl.yt/
Medium:
https://medium.com/@splytcore Twitter:
https://twitter.com/splytcore
Telegram:
https://t.me/splyt