Build-in marketplace features

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Syscoin’s build in marketplace features

On-chain buying, selling and listing
The strength of Syscoin over online retail is that it offers pure peer-to-peer transactions; there is no middleman. This means that you can buy and sell with near-zero fees, a benefit hitherto unseen in online retail.

On-chain encrypted messaging
With Syscoin messaging you can send and receive messages to other users on the network, using either the recipients address or their alias. You can manage your Inbox and Sent messages in the My Messages tab. Messaging is not only useful for users who want to keep in touch, it provides a useful service to Marketplace buyers and sellers who need to communicate with each other before a transaction is completed. Details of shipping cost and method, product dimensions, color, state of the product etc can be provided easily this way.

The encrypted messaging service is not only handy for those on the marketplace, but also on individuals who need to operate in a more confidential environment.

On-chain escrow
For some transactions, the buyer may wish to employ the services of an escrow agent, to remove any doubts about the trustworthiness of the seller. For this reason, a third party escrow service is implemented within Syscoin, and is offered to the buyer during the purchasing process. When the buyer is completing a purchase transaction they can choose to have the funds held by a third party until they receive the goods. When the buyer has received the goods and are happy with them, they can release the escrowed funds to the seller. If the buyer does not receive the goods, or the goods are not to their satisfaction, they can call upon the escrow arbiter to investigate. The arbiter contacts both parties and decides in whose favor to complete the transaction, and sends the escrowed funds accordingly. Involving an arbiter in your transaction incurs a small fee which is paid to the arbiter automatically. When the transaction is complete, buyers and sellers have the option to rate the arbiter based on the service they provided.

Due to Syscoin’s decentralised nature, downtime is a thing of the past. This means no service outages, ever. Decentralized marketplaces also offer the opportunity to buy and sell goods that may not be legal in the user’s geographical location.

On-chain certifications
This allows someone to create and store a private certificate on the Syscoin blockchain. This has real-world applications in the worlds of real estate, medical, legal, retail, and many others.

Your own marketplace

One hearth many faces
Due to the decentralized nature of Syscoin, anyone can create their own front-end to the marketplace and choose which items to list and sell.

Examples:

Create yourself
Start building your own marketplace by utilising Syscoin and it’s powerful API.

Documentation: