Topic: Particl: eBay on a blockchain. [Its also an Altcoin] (Read 200 times)

Any information on funding model of team No_2? Can't really find any information on this. It's been so long since I was in their discord I might consider re-investing if I know there is a long term funding model for development as this is the only thing that concerns me about the project.

So when the smart contracts are created on the blockchain between buyer and seller, a decentralised escrow is set up between the two of them. This makes scamming infeasible and ensures the buyers and sellers cooperate.

Buyer makes payment for item plus a deposit into escrow (blockchain smart contract). The seller puts the same amount of deposit into escrow (the same blockchain smart contract). Seller ships item. If the buyer is happy with what they received, they release the escrow and the buyer gets back their deposit, the seller their deposit plus payment. If the buyer is not happy then they talk with the seller to try and resolve their issue. Only the seller can release the escrow.

    

So taking a look at a random item for sale on the marketplace:

    

    The buyer would deposit 125 PART payment + 125 PART deposit, the seller deposits 125 PART and post the item. When the item arrives and the buyer is happy, they release funds and receive their 125 PART back, the seller gets 125 PART payment + their 125 PART deposit. Else they have to talk to each other to resolve any issues. This is called Mutually Assured Destitution Escrow or MAD escrow.

    Later versions of the marketplace will allow adjustable escrow deposits between 100-0%.

    I really like the design because it's exactly what Satoshi Nakamoto was working on back in 2009, but they hadn't yet worked out MAD escrow, and didn't have access to ring signatures, blinding and SMSG (a bit message variant developed by the Particl team for securely storing heavy data in parallel with the blockchain), so could only take the design so far and their work remained unfinished.

    You can view the marketplace for free, as it's built into the wallet. You don't need to have any Particl coins to "window shop".

I was just reading over the roadmap that can be found here https://particl.news/new-roadmap-2021/

It mentions planned reputation system Click + to expand the items. Seems like the team have a lot planned! I wonder what their funding model is like? Any information on that side of things No_2 This project is very ambitious and the team very talented I see this really going somewhere as long as development can continue longterm.

Curious what items are in the hidden marketplace?  But how is the trust factor of the buyer and seller is measured here? Is it also feedback-based? Because how can you trust the seller that he has the item to sell? Or how can you trust that the buyer will pay? So is the particl platform serves as somewhat escrow here?

I've just downloaded the latest version three of Particl Desktop. there have been a lot of updates to the software since I last looked at it! In addition to the main market, I hear there are now private/hidden marketplaces within the protocol. does anyone know how to find them?

If you download and run the client - Particl Desktop v3 - it'll automatically start pulling item listings off the network and display them on the marketplace GUI once it's synchronised the blockchain. It normally takes about half an hour to syncronise.

Does anyone know if there is a marketplaces section on bitcointalk. Not for selling goods, but to talk about crypto related marketplaces?

Thanks! I've managed to resize the images now and added an image of the exchange and GUI too.

Usually, I only add the exact width to image(s), high will adjusting! Not sure about the last code function (:large)


Sound interesting!
The must-see project, I'll check it!

Check this thread to resize your image directly using forum's BBcode.

Below is an example of the BBcode format for your image, just change the "width" value to what you want.

Or use the edit feature in imgur site if you upload your image there

I've been asked about the total number of Particl coins. There are currently around 11.5 million coins. There is no limit to how many will be created through staking. it has a set inflation rate each year. So not staking means your stash shrinks a little each year, so to speak.

I usually use imgur to upload photos here. I then save the image in different sizes using paintbrush, reduce or enlarge as needed, then upload to imgur and post here.

If the image data is too large, then the forum will not really show, but smaller ranges work fine. Check out below for example

Does anyone know how to resize images? I've looked at a simple machines forum wiki guide and been battling with the image size in the above post to no avail.

Just before Satoshi disappeared, he was working on a way to extended Bitcoin to create trustless decentralised marketplace on the blockcahin. After nearly eight years of development Particl Marketplace launched last week, it provides a decentralised marketplace built into a blockchain using smart contracts. The wallet provides an intuitive eBay style GUI.


I'm not a member of the Particl team, but I have been following the project closely since c.2014 so I can provide my notes here as a starting place for other people's research and am happy to answer questions as best I can. Below are some of the key highlights as I see them.

Particl integrates a trustless decentralised marketplace into the Bitcoin blockchain source code. Particl provides an eBay and Amazon style marketplace inside its wallet software, allowing users to buy and sell natively with crypto via blockchain smart contracts.

    

A decentralised exchange has also been built on the Particl blockchain allowing exchange between all cryptocurrencies that support atomic swaps such as Bitcoin, Monero and Litecoin. Atomic swapping allows currencies to be swapped directly between separate blockchains. This exchange is currently in working beta. Later versions will allow users to pay for goods on the marketplace using currencies supported by the built in exchange.

    

The marketplace connects buyers and sellers directly, with no middle man. They are protected by Particl’s decentralised smart contract escrow which makes scamming infeasible. It works in the following way:

Buyer makes payment for item plus a deposit into escrow (blockchain smart contract). The seller puts the same amount of deposit into escrow (the same blockchain smart contract). Seller ships item. If the buyer is happy with what they received, they release the escrow and the buyer gets back their deposit, the seller their deposit plus payment. If the buyer is not happy then they talk with the seller to try and resolve their issue. Only the seller can release the escrow. An escrow contact has no expiration period to give the buyer and seller time to resolve any disputes. The current escrow for the beta launch is 100% of the item price; in future this will be adjustable between 100-0%. See diagram for more datils.

    

Unlike centralised cryptocurrency marketplaces and websites, Particl cannot disappear with your funds, so your money is always safe. Everything goes via the blockchain. No third party needs to handle funds.

Buyers and sellers do not need to sign up - signing up is the same as creating a bitcoin address - so no personal information is submitted to the network. The marketplaces can also be viewed for free simply by downloading and running the wallet.

Security is paramount: all communication between users is encrypted. The software does not permit things like hyperlinks outside of the client as this could reveal a users IP. There is shortly to be native Tor and I believe I2P support is in the works too.

Anything can be listed, but socially inappropriate items can be voted off by users, using their coin balance as voting weight.

Particl is an evolution in privacy coin technology. Like Monero it uses ring signatures, but provides more; 24 vs 11. It also provides blinding.

Non-transaction data, such as images and text, are kept off the blockchain and sent via Particl’s inbuilt encrypted messaging system instead. This protocol is based on bitmessage. To avoid spam users pay for the duration they want each of these messages to persist on the network. This is more scalable for data intensive dApps than something like Ethereum.

To stake Particl coins, users need to lock-up their coins for a period of time. Furthermore each time an item is purchased and shipped, the decentralized escrow locks the payment, plus a deposit from the buyer and seller, into escrow. Both these activities take a lot of coins out of circulation. So Particl’s price should rise with actual use as the same amount of Particl coins chase more and more goods on the marketplace.

Since its beta launch in August 2019 Particl has facilitated tens of thousands of listings and thousands of sales.

Particl is open source and closely mirrors the Bitcoin code base and remains current with all its latest upgrades such as taproot.

Particl was a top 20 crypto in 2015 for around two years. It has remained a top 10 crypto for code commits since 2015 - https://www.cryptomiso.com/.

Particl is a dApp platform, the decentralized marketplace is just the first app.

You can download the software here: https://particl.io/downloads/

Links for more information:

Website: https://particl.io/
Team: https://particl.io/team/
Linked In: https://linkedin.com/company/particl/
Github: https://github.com/particl
Twitter: https://twitter.com/ParticlProject
Forum: https://particl.community
Reddit: https://www.reddit.com/r/Particl
Instagram: https://www.instagram.com/particl.official
Youtube: https://www.youtube.com/c/particl
Facebook: https://www.facebook.com/ParticlProject
BitcoinTalk: https://bitcointalksearch.org/topic/annpart-particl-p2p-anon-marketplaces-ringct-v3-upgrade-this-summer-5227333