OpenBazaar is an open source project developing a protocol for e-commerce transactions in a fully decentralized marketplace. In a recent tweet, OpenBazaar announced that Ethereum integration onto their platform was almost done.
ETH is actually in the final stages of development!
— OpenBazaar (@openbazaar) June 6, 2019
The project had announced plans of integrating support for various cryptocurrencies like Bitcoin [BTC], Ethereum [ETH], ZCash [ZEC], and others. The company explained three factors which played a role in their decision to add Ethereum, despite the difficulty in integrating it.
“Ethereum has the largest community outside of Bitcoin. Developer activity on Ethereum is huge and enthusiastic. The community has a special eagerness for its coin and tokens to be used for real-world commerce.”
The blog also confirmed that it would further integrate ERC20 payments and smart contracts built on Ethereum, which would help OpenBazaar support markets that would be extremely challenging to support with Bitcoin-like script-based cryptocurrencies. Further, it also confirmed that integrating Ethereum has the potential to expand the types of products and services offered on the platform.
It also cleared any confusion by stating that “Users won’t be required to use Ethereum to use OpenBazaar, and can still stick to paying and being paid in Bitcoin or other supported cryptocurrencies.”
The Co-founder of OpenBazaar, Washington Sanchez, first announced the integration of Ethereum via a tweet on April 19, 2018.
Welcome to the family! Look forward to seeing what you and openbazaar come up with
— Vitalik Non-giver of Ether (@VitalikButerin) April 19, 2018
A Reddit user, mjkeating, commented,
“Ah, after reading the context of the tweet, it seems that OpenBazaar is in the final stages of integrating ETH into OpenBazaar. I thought this was referring to Ethereum itself, which is moving along well, but still has quite a bit of work ahead for ETH 2.0.”
Washington Sanchez aka drwasho replied,
“Hey it’s drwasho from OpenBazaar. We are indeed in the *final stages of development. Our escrow smart contract to facilitate payments by ETH or ERC-20 tokens is complete and audited by Open Zeppelin (we’ll be publishing that soon). It has been a monster effort to refactor OpenBazaar to be less intimately linked to Bitcoin and UTXO-based cryptocurrencies, but we are so excited for finally supporting this ecosystem. Also Dai will be one of the first tokens available for payments, which I’m personally super excited for. Also keep an eye out for our soon to be released mobile app: https://gethaven.app * Code is written, PR is open to master, currently testing and updating automated tests”
Subscribe to AMBCrypto’s Newsletter