Did you know?
The technology underlying operation of the marketplace is a powerful core level feature of Burstcoin. Together with smart contracts, this technology will form the basis of a planned decentralized exchange (DEX) to be operated on the Burstcoin blockchain.
Digital Products
The ease of online delivery makes the marketplace particularly well suited for marketing digital products. However, physical products can also be listed as on any other e-commerce site.
Guaranteed Payment
Payment is guaranteed because a buyer’s funds are reserved at the time an order is placed.
Inventory Management
Order tracking and inventory management are automatic. Product levels are updated each time and order is made.
Looking Forward
While the marketplace is currently available only through the BRS wallet, a complete makeover will be in the works this feature in order to include it in the new cross-platform Phoenix wallet.

Burstcoin marketplace – the future of peer-to-peer buying and selling

The Burstcoin Marketplace provides a protocol for decentralized, peer-to-peer selling.  It is no longer necessary to rely on external market sites that charge commissions for facilitating your business.  Any type of merchandise can bought and sold.  The marketplace is particularly suited for digital goods such as software, music, and videos.  Buyers shop for seller’s products, place an order, and are provided with instructions for receiving or downloading their purchased products — no intermediaries, no fees, and no delays.    All transactions between the buyer and the seller are transacted directly on the blockchain using Burstcoin.

Image showing the Marketplace menu in the Burstcoin wallet

With server running, access the local Burstcoin wallet by visiting http://localhost:8125/. On the sidebar, find menus for marketplace and my store.  Following are descriptions of each sub menu:

 

  • Search marketplace: Enter a seller’s address to view their products.
  • Purchased products: See all of your previous purchases.
  • My products for sale: See your items for sale and make updates to your offers.
  • My pending orders: Here you will see pending orders from users who want to buy a product.
  • My completed orders: Shows all finished orders and feedback from your customers.
  • List product for sale: Here you add a new digital good in the marketplace.

How to buy products on the marketplace

  • Open your Burstcoin wallet and select marketplace.
  • Select marketplace from the menu and then select search marketplace.
  • Enter a seller’s Burstcoin address to see a list of items that they have for sale.
  • Click the name of a product to open a purchase dialog.  Enter quantity and delivery deadline (in hours).  The delivery deadline defines the amount of time you are willing to wait for the seller to deliver before the transaction will be canceled.  Verify your data, enter your passphrase, and click purchase.
  • Orders that have been placed successfully appear in the purchased products menu with an initial order status of tentative.  After network confirmation (block generation) the order status changes to pending.  When the product has been delivered, the status changes to complete.
  • Click the name to open the marketplace delivery dialog.  Enter your passphrase to decrypt the seller’s message. Here you will find the information on how you can receive your digital good.
  • You now have the option of leaving feedback for the seller.

How to sell products on the marketplace

  • Open your Burstcoin wallet and select my store.
  • Click list product for Sale in the top right-hand corner.
  • Describe your product.
    Name: The name of the product.
    Description: More details about the product.  You can add a link to our promotional website where you can present the product in full detail.
    Tags: (optional) – Enter up to three tags separated by commas.
    Price: The product price per unity in Burstcoin.
    Quantity: The number of the items that you have in stock. This will decrease automatically each time a sale is made.
    Passphrase: Your wallet’s passphrase.
  • Confirm the offer by clicking on put For sale. It will then be listed in italics under my products for sale.
  • After your offer has been confirmed in a block, usually after a few minutes, it will be listed in normal font as a link.
  • When someone places an order to buy goods from you, it will show up in my pending orders. To complete the sale, press the deliver goods button.
  • In the pop-up window, enter your passphrase to decrypt the buyer’s message. You can check remember passphrase for decryption for future sales.
  • Enter details on how the buyer can download or receive their merchandise in data. You can optionally give your buyer a discount.
  • Enter your passphrase and select deliver purchase to finalize.
  • The completed order appears in my completed orders. For details, click on the product’s name. If they buyer has provided any feedback, you will find it here.  This section is also where you would issue a refund if applicable.

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