MartKist: Changing The Face of Online Retail Industry Through Decentralized Marketplace
Over the last two decades, global e-commerce has exploded to every corner of the world as online trade and commerce has witnessed a massive surge. Giants like e-Bay, Amazon, Alibaba, and others have significantly dominated the marketplace with their robust technology and infrastructure.
However, one of the major bottlenecks with these platforms is that they are largely centralized platforms that fail at being user-centric, besides having other limitations. As a result, users of these platforms often struggle with the issues of huge merchant fees, fraudulent dealings of counterfeit goods, lack of an exchange payment method, identity thefts, unwarranted chargebacks, and other outright scams.
Hence, these platforms miss touching upon the most vital element of ‘trust’ while minimizing the social elements of the trading process.
While addressing these issues in perspective, Martkist has come up with a new decentralized blockchain solution that democratizes the entire process and solves the industry challenges.
Martkist – A “Decentralized Anarchy” Project
Dubbing itself as a “decentralized anarchy” project, Martkist aims to bypass third-party intermediaries and offer its users a truly decentralized marketplace with a strong and growing user community.
The project uses open-source blockchain technology while incorporating the fundamental features aimed at improving global e-commerce. The platform has also got its native crypto token called MARTK.
Martkist has also got an inbuilt escrow platform for the security of the users’ funds. It holds the users’ funds in escrow until the conditions of the smart contracts are met. Only upon meeting the condition, it releases the funds to the transacting parties.
Besides, the platform also has unlimited access for users to inventory. But if you’re thinking that the Martkist platform only trades physical products, then you’re probably wrong!
This project has a special feature integration called the distributed certificate management system. thus, by using cryptographic technologies, users can issue and authorize different digital certificates.
This gives users the ability to create and exchange other digital assets like event tickets, software licenses, certificates, receipts, and other ownership documents. Besides, it also allows for developing several business applications on top of the Martkist blockchain network.
Key Features of Martkist Decentralized Marketplace
- Creation of Auctions: The Martkist platform allows sellers to auction create for listed items such as minimum and reverse bid pricing along with countdown timers. It also allows for timed actions with “buy it now” option available to the prospective buyers.
- Digital Assets & Sales: As said earlier, Martkist allows users to sell their certificates of digital ownership. Thus, users willing to sell these certificates will be owners of private information like software license keys, property registrations or other codes. Using the smart contracts, these certificates are automatically transferred to the buyers upon meeting all conditions.
- Notification System: The Martkist platform has also got a notification system for a payment processed, escrow system in place, and also an acknowledgment by the merchants that they are about to ship a product.
- Whitelist Reselling: Martkist aims to open equal e-commerce opportunities to all across the globe. Thus, merchants can benefit by allowing re-selling options for their listing, on a commission basis. Thus, any other user interested in drop-shipping can participate by selling other users’ products through Martkist’s decentralized database of users.
- Platform Moderation and Private Offers: Martkist ensures that no offer violates the platform’s moral and ethical code of conduct. It incorporates a search feature used to moderate and blacklist such users.
- Transparent Rating and Feedback System: All the merchants, arbiters, and buyers on Martkist can give and receive ratings and feedback depending on their engagement on the marketplace. Martkist has implemented an emoji-based rating and feedback system allowing the voter to convey their satisfaction. This is applicable to other services and offers conducted through the escrow system.
- Unlimited Payment Option: Martkist facilitates diverse payment options allowing transfer, ownership and conversion of leading cryptocurrencies. This is to ensure smoother e-commerce and community engagement. But all users willing to access Martkist’s functions and services have to first convert their digital currencies into native MARTK tokens.
Martkist’s Infrastructure and Masternode Technology
The Martkist blockchain network is developed using the Z-DAG protocol also called the Zero Confirmation Directed Acyclic Graph. This helps the platform to implement instant settlement of payments which is essential for the kind of services and features it offers.
Martkist also has an asset infrastructure along with a masternode system. This facilitates a hybrid consensus model for the blockchain network wherein 70% is Proof-of-Work and 20% is Proof-of-Stake.
The platform’s asset infrastructure allows for a tokenization layer that facilitates trade and exchange of various digital assets. some possible use cases include token and digital currencies backed by physical assets like gold and other precious metals.
The Martkist decentralized marketplace also incorporates a masternode network. This ensures better platform governance among its community as well as real-time transaction plus Z-DAG.
Conclusion
With the demand for online marketplaces growing rapidly in recent times, there is also a simultaneous demand for developing platforms wherein the users get better control over their products and services.
The Martkist decentralized marketplace understands the user concerns and offers solutions that incorporate several elements like the flexibility of use, security, privacy, escrow services, and much more.
