Web marketplace update – 1st February 2019

It’s been a while since we gave you all an update on the web markets development so I’m very happy to be able to share some great news with you all.

Next week we will be updating the demo marketplace website with new features including a live market on main-net. With this release we are taking a huge step towards our goal of a truly-decentralised, mobile-ready web marketplace, secured by Double Deposit Escrow smart contracts.

Beta 0.1

This new release should be considered a ‘working-beta’; there are limitations to some features and there may be some bugs that have found their way past our QA team, but this is a working product that shows just how far we’ve come.

As this release is on main-net, we encourage you to use small amounts of BAY for any transactions, and to take note of the following limitations, all of which are either in planning or currently being worked on:

1. Escrow deposits for this release are fixed at 100% fo the item value
2. The UI text content is a ‘work in progress’ and will be updated soon
3. Item prices have a max of $2 to limit any loss of funds
4. The in-built wallet is fully working on main-net but we suggest only using small amounts for now
5. The contract length is fixed at 56 days
6. You cannot raise a dispute for a sale

We have included a feedback button that you can use to report any issues you might encounter, or to pass your feedback and comments directly to our dev team.

Over the next months we will be rolling out the following features to the web marketplace:

1. Currently the markets data is stored on a central database for testing purposes. This will be moved to a decentralised solution once we have finished the research and testing stage
2. Variable deposits for buyer and seller
3. Variable contract length
4. Raise a dispute with the other party
5. A full security audit for the DDE smarT contract code
6. Many UI and UX improvements

I’ll update you all early next week once we’ve pushed the beta out to the live website and it’s ready to test.

Thanks as always for your support,

Shorn

Project Manager @ BitBay