234 points by cryptonova 5 months ago flag hide 25 comments
unix_coder 5 months ago next
Great work! I've been following the development of decentralized marketplaces, and it's exciting to see an operational one for digital goods.
stark_industries 5 months ago next
I hear there is no smart contract verification. How do you plan to ensure trust between users?
andrew_org 5 months ago next
@stark_industries, we are working on a multi-signature escrow service and reputation incentives to establish legitimacy in the marketplace.
stark_industries 5 months ago next
@andrew_org, so I assume that the user will have to pay a higher gas price since there are two actions involved (escrow & finalizing transfer)?
zk_rollup_team 5 months ago next
@stark_industries, to counter higher gas price, we plan to implement our ZK rollup as a L2 solution post-launch that will handle payout of the escrow.
mighty_builder 5 months ago prev next
@andrew_org, looking forward to seeing the UI. How will price discovery work, and what is the fee structure like?
andrew_org 5 months ago next
@mighty_builder, we're developing an auction model with a secondary price discover mechanism similar to what you see in decentralized finance (DeFi). Our fee structure is a 1% marketplace fee, coming down significantly after 5,000 USD of monthly sales, with the entire portfolio (meta-)transacted in stablecoins to minimize price volatilities.
curieous_mind 5 months ago prev next
Nice job! Can I get early access to try this out? Are you going to use IPFS or Sia storage?
tech_pilot 5 months ago next
@curieous_mind, we'd love to add you to the beta. We've decided to integrate IPFS for content addressing and blockchain for settlements.
ff_fan 5 months ago next
@curieous_mind, you can also mention me if you want to discuss and learn more about the marketplace. I'll be pleased to share my finding with you.
space_x 5 months ago prev next
@curieous_mind, we'll be supporting Sia storage for ZIP downloadable content, while IPFS is for E-books.
curieous_mind 5 months ago next
@space_x, great suggestion, I can't wait to see how the integration plays out. IPFS along with Sia sounds like a great combination, enhancing the content availability. Will you consider hosting website on Sia Skynet as well?
space_x 5 months ago next
@curieous_mind, for IPFS, we host via Infura, but for Sia, we'll be hosting on the Skynet network. We can consider website hosting as an additional feature since you bring it up, but not in the first version. We'll make sure to mention this in future updates.
coding_nerd 5 months ago prev next
I'd like to see an example of the underlying smart contract code. This is fantastic!
blockchain_developer 5 months ago next
@coding_nerd, check out my Github for the solidity-based code. It's still being peer-reviewed, so there may be minor changes.
coding_nerd 5 months ago next
@blockchain_developer, I am a bit concerned about scalability. Have you considered L2 solutions?
bc_innovator 5 months ago next
@coding_nerd, the L2 is being implemented to manage excessive data in smart contracts and can significantly reduce costs.
bc_genius 5 months ago next
Blockchains such as Ethereum can handle only so much computation and storage, hence, our implementation of a L2 solution to allow more capable networks like ZK to optimize computation, ultimately amplifying scalability.
internet_fan 5 months ago next
Indeed, as networks expand and user-generated content proliferates, DApps may incorporate innovative services like L2 rollups, increasing speed and efficiency while lowering costs. Exciting time for blockchain!
hacker_news_moderator 5 months ago prev next
Staying on-topic is important. Let's focus on the Decentralized Marketplace itself. L2 scaling discussion is welcome in another thread. Thank you for understanding. We will update you on progress with this project, until then, please keep the comments in line with the original post.
topic_follower 5 months ago next
I've been digging deeper into this marketplace and was wondering if there's any insurance concept to safeguard artists and consumers in case of fund loss due to unforeseen circumstances.
andrew_org 5 months ago next
@topic_follower, insurance is a great idea. However, at the onset, we don't have such a system built-in directly. Yet, we can share how to use insurance providers that offer coverage for digital marketplaces, with no ties to our platform. That way, community members can safeguard themselves from unforeseen consequences.
flat_world 5 months ago prev next
Just curious, what sort of arbitration mechanism is in place in case a dispute arises between parties?
andrew_org 5 months ago next
@flat_world, arbitration will be community-based, managed by an exemplary user with proven integrity and expertise in their respective categories in similar fashion to a Benchmark Capital model. The process would require 10-30% of transaction sum for jury selection and verification of statements with receipts, following which the sum is divided fairly.
hacker_news_moderator 5 months ago prev next
Thank you for keeping focused. Your questions and discussions have been interesting and insightful for the project. Remember, users need to seek expert opinion if they are investing significantly or need assurance, instead of relying on the project's FAQ. @andrew_org, you're welcome for the opportunity to discuss developments and we look forward to seeing your future updates. Have a great weekend!