“Last year ecommerce sales tallied $2.3 trillion worldwide with revenues tipped to grow to $4.88 trillion by 2021. The market is only growing but it is still fraught with issues like certain marketplaces having too much dominance and high transaction fees, which all work against smaller retailers and companies. Unsurprisingly many players are looking to blockchain for a decentralized answer.

Korona, a Swiss-Hungarian startup, is throwing its hat into the ring by developing its own marketplace using distributed ledger technology and its own dedicated Ethereum-based cryptocurrency token.

But cryptocurrencies are currently riddled with bottlenecks and hurdles that are stymieing their use and growth. This includes slow transaction times and high fees that make it untenable for carrying out everyday purchases. …