The Block: A Decentralized Marketplace by BitBoost
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The Block: A Decentralized Marketplace by BitBoost


Welcome, welcome to One Minute Crypto! I’m your host, Chronos, and today we’re going
to take a look at an interesting new project. It’s called The Block, and it’s a marketplace
for buying or selling nearly anything. It’s put out by a group called BitBoost and
it’s fully decentralized, built on the Ethereum blockchain. Let’s say that you want to buy, for example, some Alpaca
socks. Everybody loves Alpaca socks. But when you go online to a typical site like Ebay, they can charge pretty high listing fees, because they control the market. And sellers typically pass that cost on to you. By building on the Ethereum blockchain, BitBoost
can keep fees low. They encrypt all the messages and transactions between buyers and sellers, which gives you great privacy. They even have a decentralized arbitration
system, where arbiters are selected from inside the community, so it’s easy to get your
money back if a seller is dishonest. Now, is Bitboost offering their own tokens
for sale? They’re actually taking an interesting hybrid
approach on this. They’re using Ether as their currency, which opens
up the customer base to a pretty wide audience: any Ethereum user. But they are also issuing their own tokens
that are used to post new listings in the marketplace. Check them out at bitboost.net.

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