Business 30 July 2018

Dennis Wafula

OpenBazaar enables zero-fee trading of over 1,500 cryptocurrencies

Decentralized marketplace OpenBazaar rolled out its Version 2.2.2, which offers additional features and bug fixes. In a blog post, the OpenBazaar development team outlined the two main improvements in the new version, aimed at helping users make seamless transactions.

First, Version 2.2.2 gives users the ability to mark up or discount their trade coins on the platform. Previously, users would only trade using the set market prices, which, at times, did not favor the transaction. With the new system in place, users can choose to add value to their coins or sell them lower than the set market prices. OpenBazaar’s new platform will constantly make updates on cryptocurrency prices to make sure both parties are well informed before making any transaction.

OpenBazaar enables zero-fee trading of over 1,500 cryptocurrencies

 

The second feature added by the OpenBazaar team increases the number of cryptocurrencies one can trade on the platform. The previous OpenBazaar version allowed users to trade in about 60 coins. The new system has integrated price data from CoinMarketCap and has greatly increased the number to more than 1,500 coins. Users who wish to check a particular coin on Openzabaar’s platform will only need to download the app. No sign-in is required to use the platform.

Users will access these new services without having to pay any fees. According to OpenBazaar, the platform is there to facilitate cryptocurrency exchange between parties and thereby help grow the industry. The platform is an open source software designed to facilitate peer-to-peer transactions in the eCommerce industry. Sellers on the OpenBazaar platform can receive their payment in Bitcoin Cash (BCH), as well as in other cryptocurrencies.

OpenBazaar was first introduced to the public in April 2016 by Amir Taaki and Brian Hoffman. Some of the products sold on this platform include music, clothes, art and jewelry. Users on this platform can customize their own stores and, best of all, it offers zero fees for listing and no middlemen. There is also a live chat feature where sellers can easily chat with buyers.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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