What Happened To Syscoin Blockmarket?
What Happened To Syscoin Blockmarket?

By drlove | Sysnetsite | 12 Jan 2020


Blockmarket Desktop developed by the Blockchain Foundry, Inc. team on Syscoin Core 2.x and Syscoin 3.x was the first decentralized marketplace with such features as aliases (unique user names), escrow (users could agree to appoint any third party as escrow for securing transactions between unknown parties), certificates, secure encrypted communication and more.

Many crypto enthusiasts invested in Syscoin because of it – and were surprised when it was shelved temporarily, leaving quite a few community members initially bewildered until they realized the rationale behind it.

Two problems became apparent that precluded widescale enterprise-level adoption and required a long-term solution:

Data needed to be moved off-chain as much higher tps was needed in order to accommodate serious e-commerce adopotion. https://medium.com/@syscoin/syscoin-4-0-the-evolution-d1b6cd650848

Assuming a globally operating e-commerce platform called abay needed to update pricing and/or rebates of 1 mio. #SKU (Stock Keeping Units), each with slightly different localized description of items, varying languages, different images and different pricing, one realizes that serious bottlenecks would occur regardless of the block size and the block creation time – just as bottlenecks have occurred in other blockchains, such as the infamous CryptoKitties game that brought Ethereum almost to its knees.

It was therefore indispensable that a solution needed to be found in order to pursue the ultimate goal:

Syscoin 4’s unique patent-pending Z-DAG technology is just that! Read more about it in this previous post! Or review it here https://syscoin.org/z-dag  An in-depth technical article can be found here!

It means the network can handle transaction throughput of documented 60158 Syscoin Platform Token transactions per second (TPS) or more, as measured on by third party Whiteblock, while remaining decentralized and secure, therefore providing the high transaction throughput that will suffice for all e-commerce scenario, as it exceeds even the tps of the established centralized payment processors such as Visa. For the detailed report please visit this link: https://syscoin.org/news/z-dag-performance-analysis

Transferring funds using the Z-DAG protocol allows for near real-time transactions which have been documented to confirm in less than 10 seconds between the UK and Australia and makes it the perfect choice for a retail environment.

Watch the clip:

 

It also become apparent that any serious contender for blockchain based marketplaces needs to provide for a ‘grandma’, or ‘grandpa’-friendly browser extension and accommodate mobile devices.

Requiring the download and use of desktop applications simply does not appeal to the masses – as other blockchain projects have painfully realized since.

This is especially a necessity as e-commerce on mobile devices is growing rapidly! By now, in many countries the majority of all commercial transactions are on mobile devices! 

Subsequently, in addition browser extension the development team will include mobile applications for the next evolution of decentralized marketplaces which according to the latest https://syscoin.org/roadmap is reported to be 60% complete at the present time. To read more about what is in store, please visit https://syscoin.org/decentralised-marketplace

So, yes, Blockmarket will reemerge from the ashes and will include white labeling to meet the demands of any enterprise level organization! For those looking for a blockchain project that pursues the “big prize” redesigned from the ground up for scalability and security, Syscoin is a serious contender.

Currently, all eyes are on the coming bridge https://syscoin.org/syscoin-bridge, as trustless, permissionless interoperability with Ethereum goes live at Syscoin Block 348,000 (~January 28, 2020). The goal is a viable scaling solution for Ethereum and other platforms as it provides the option to offload majority traffic to the Syscoin Z-DAG network which is designed expressly for micro-transactions, thereby freeing network resources.

 

To learn more about other developments, visit https://syscoin.org/roadmap – but among the many projects, the pursuit of the “big prize” of e-commerce, namely enterprise scale decentralized blockchain based marketplaces has never stopped and is continuously progressing towards completionl

Join the official Syscoin Disord chat https://discord.gg/RkK2AXD and you can participate in testing the new blockmarket and can
collaborate with the team!

BTW, bookmark and visit https://syscoin.network/syslinks -the up-to-date link collection for the Syscoin Platform!

https://syscoin.network/syslinks



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