Particl Launches Online Marketplace that ensures privacy
Particl, a privacy-based ecosystem based on P2P/blockchain technologies, launched its open online marketplace on August 12th of this year. All aspects of Particl’s marketplace is built with user privacy and data protection in mind so that no data generated using this platform and third parties are used for malpractices or without user knowledge.
Particl is a fully decentralized ecosystem built around its native privacy coin PART and has been dedicated to resolving two of the most significant issues still affecting cryptocurrency, being able to use cryptocurrencies effectively without friction and privacy concerns. Particl network enables users to buy and sell goods without submitting any of their personal information other than shipping address, thus giving an advantage of privacy.
There is also a no central authority owning or controlling Particl protocol; thus there are no commissions applied on the top of sales which is a very radical shift from other existing market places as some charge as high as 45% of the cost of items. This allows vendors to increase their revenue; it allows decreasing the price on the listing to beat their competition while still making a considerable profit. All of the listing fees that are generated by the marketplace are redistributed in full to its entire network of users.
Particl’s approach to trade insurance and fraud protection is to use a double deposit escrow system based on MAD game theory. Each party adds collateral (PART coins) into a small contract which is paid back to both users without a fee once they both agree that transaction is complete. This ensures a mutually satisfying transaction while being scalable and requiring no staff.
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