The recently launched Bitmarkets service is not at all an imitation of the most popular Polish cryptocurrency exchange, but a decentralized peer-to-peer trading platform similar to OpenBazaar, based on the anonymous Tor network. Bitmarkets, like OpenBazaar, is an open-source protocols-based project built on publicly available, open source code. For both of these platforms the trading currency used is bitcoin. The communication network is also based on a decentralized, encrypted P2P communication protocol - Bitmessage. A team of four programmers and designers is responsible for the creation of the platform, but above all they are fascinated with the technology and ideology of bitcoin: Steve Dekorte - the main programmer of the project; Chris Robinson - responsible for the interface; Rich Collins - who integrated the bitcoin payment system and Adam Thomson - responsible for the Bitmessage protocol and the communication of the platform with the Tor network. According to Dekorte, whose opinion is shared by the rest of the team, privacy is a "fundamental human right." This thought was one of the inspirations for creating the platform: We don't like the eventuality of a world in which all the transactions you make throughout your life are tracked by someone. We think that addresses issues of basic human rights." Unlike OpenBazaar, the fledgling project relies on the anonymous, virtual Tor network from the start. The former, already launched in August this year, only made connections via Tor available in October. However, this is not the only difference between the two services. The basic one seems to be the idea of introducing an innovative deposit system, which does not require, in contrast to the solution used e.g. by OpenBazaar, the presence of a third trusted entity, in disputable cases playing the role of a mediator. The creators of the "marketplace" have bet on a solution in which the success of the transaction is based solely on the persons of the buyer and the seller. At the beginning of the transaction both parties make a deposit, blocking their funds in special designated bitcoin wallets, which are a component of the platform, and more specifically the application-client responsible also for the implementation of the protocol for posting, viewing and executing transactions. The seller, as a deposit makes a payment of the equivalent of the goods or services offered, while the buyer pays twice this amount. With this solution, both parties find an economic interest in amicably resolving any conflict that may arise. Otherwise, their funds will be irrevocably frozen in deposit portfolios. If the transaction goes smoothly, both participants release the deposited money, and the seller receives his payment, deducted from the deposit. If for some reason the buyer has not received the goods or services, or is not satisfied with their quality, he and the seller may come to an agreement to return the initial payment. In such a case, both parties of the transaction, using the refund function, with their mutual agreement undo the previously occurred deposit process. Which of the deposit solutions (with or without the use of a trusted third party) turns out to be better will be verified in practice. However, according to the creators of the newest platform, the previous solution had too many weak points. First of all, we can never be sure of the right intentions of the mediator invited to the transaction. In addition, even with the best will on his part, there are doubts as to his competence in assessing the situation correctly, as well as additional difficulties connected, for example, with the physical distance between the parties to the transaction. Finally, there are also issues related to the necessity of a system for assessing the reputation of mediators, necessary for the proper functioning of this type of depositary mechanism. The existence of such a system, however, poses quite a challenge in truly anonymous platforms. Available so far only on Unix OS X, Bitmarkets is still a fledgling platform, at the moment featuring listings from less than 170 traders offering less than 300 different types of products and services. However, the platform's new features, ease of use, and clear interface reveal its great potential, giving it a tangible chance to make its mark on the market, not only for decentralized online trading. C_4LXU4wy7g{/youtube} Any reproduction, distribution, electronic processing and transmission of content from bitcoin.pl website requires prior consent of the portal. Tags anonymous bitcoin
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