Trading platform OpenBazaar has been running on the test network
The administration of decentralized OpenBazaar platform for instant trading of products and services announced the launch of the platform running in the test network.
In the official blog of OpenBazaar reported:
"At the moment OpenBazaar is fully functional on the test network. We invite everyone to actively participate in the testing platform to make sure that everything is working correctly".
"Once we are confident in the stability and functionality of the product, OpenBazaar will be opened for business."
The test version can be downloaded on the platform official website.
OpenBazaar has been in a state of active development since the spring of 2014 and was initially conceived as means of solving problems faced by the markets dark net in regarding to not require the confidence of transactions, protection of transactions and decentralization. Focus has shifted primarily to small merchants.
In the current form, OpenBazaar has much in common with platforms such as Etsy or eBay, but it can pose a direct threat because it allows to trade directly between users without the involvement of any intermediaries.
The problem of possible fraud is solved by sending Bitcoins to the multi signature address, which, in addition to the buyer and the seller, is controlled by a mutually trusted third party. Providing of the third part is needed in case of a dispute.
Recall that in the summer of 2015 OpenBazaar raised $1 million investment. Among the investors there are Andreesen Horowitz, Union Square Ventures and a business angel William Magyar.