If you’re selling on OpenBazaar, we’ve got good two pieces of good news for you.
First, anyone using our new listing explorer can easily find your products now.
You might have noticed that the default search engine wasn’t showing your products.
That’s why we’ve launched the BlockStamp OpenBazaar listing explorer. We’ve set it to show all the search results for any keyword that buyers are looking for.
We believe that’s more in line with the true, free market spirit of OpenBazaar :)
Second, you can easily move your products up in this explorer’s search rankings with the BST crypto coin.
Here’s how to do it.
First, make sure you have a BlockStamp wallet. If you don’t have one already, all you need is an email address and a few minutes to sign up. You will also need a few BST in your wallet. You can buy some on leading cryptocurrency exchanges like Coinall and CoinTiger. It takes
Second, go to the BlockStamp OpenBazaar listing explorer and search for the keyword for which you would like to optimize your listing.
As an example Let’s use the term “blockstamp,” because we have already made some listings for the purpose of this article :)
When we did the search, the top ranked listing will something like this.
Let’s say that this listing is in your target rank, i.e. you want your listing to be ranked #1 instead of this competitor’s listing.
Note the amount of BST given under the “Promote” link. Here it is 1.43379528 BST.
This is the rank price threshold, i.e. the amount you will have to pay to put your listing in this rank.
Third, find your listing with the BlockStamp explorer click the “Promote” link. You will be taken to your wallet’s messaging area that will look like this:
You’re using the wallet’s messaging function to because — technically speaking — you will be publishing a record in the BlockStamp blockchain. Hit send and you’ll see a confirmation window similar to this.
Fourth, set the transaction fee that you will pay to put your listing in the targeted rank. Do this by hitting the “Customize” option in this window. You’ll see additional options that look like this:
Adjust the transaction fee until you see that the total fee is higher than the current rank price you noted in step two (1.43379528 BST).
In this example, we’ve set the total fee to be 1.89428767 BST, which of course is higher than 1.43379528 BST.
(You can disregard the warnings about the unnecessarily high fees — that doesn’t apply here. We’re working on it :))
Hit send and voila, your product will move up into this rank.
The BST you pay this way will be applied cumulatively to your listing promotion for 30 days.
In this example, the 1.89428767 BST you paid would be applied to your listing promotion for 30 days, and then your balance would drop back to 0.
In the meantime you can top it up further though. Let’s say, for example, you add another 2 BST to your listing’s promotional balance tomorrow to stay ahead of competitors.
Your total would then be 2 + 1.89428767 = 3.89428767 BST.
It would then drop back down to 3.89428767–1.89428767 = 2 BST when the original 1.89428767 BST expires after 30 days.
Keep it in mind to keep ahead of competitors!
Finally, a few important details to keep in mind.
- The whole process is anonymous. Your BlockStamp transaction is not tied to your identity in any way. If your OpenBazaar listing is anonymous then so will your promotion of it with the BlockStamp blockchain.
- The fee you are paying is a BlockStamp blockchain transaction fee. In other words, it is a miners’ fee that will compensate the blockchain’s miners for doing what they do, just like any other transaction fee. The fee does not go a centralized marketplace administrator.
Make sure you’re part of the BlockStamp social community and feel free to ask any questions there!
BlockStamp is a multipurpose Bitcoin blockchain fork developed to promote liberty, transparency, and sovereignty in areas of the digital economy where these fundamental values are most at risk. BlockStamp hosts a radically fair gambling platform, a digital tool for transparently sealing data, a censorship-proof internet Domain Naming System, and the BST crypto coin.