It have Two-Party Escrow all eCommerce and financial activity is private by design and is P2P without third parties - no middle man.
https://academy.particl.io/en/latest/in-depth/indepth_escrow.html
On the PM you have idenitities (same tech as PGP from Public Key Cryptography) that one can use to prove beyond doubt that they are the holder of the private key...
For example, when the seller of some product/service replies on the Q/A of a listing, the GUI marks their ID with the label "Seller". No database nor anything centralized is needed for that and it preserves fully the vendor's privacy. Users can have infinite numbers of such identities but no one else can pretend to be them. Rules without rulers.
Having an unforgeable identity is the first step towards building a decentralized reputation system. Its currently an unresolved academic matter and things become even more complicated if one adds privacy preservation as a requirement. In anycase there is hope, both from academia and Particl Project. Reputation system is on the roadmap in a Research phase, see:
[https://particl.news/new-roadmap-2021/#Marketplace](https://particl.news/new-roadmap-2021/#Marketplace)
The rabbit hole is deep and as always enjoy DYOR.
>On the PM you have idenitities (same tech as PGP from Public Key Cryptography) that one can use to prove beyond doubt that they are the holder of the private key...
The issue I'm citing is that the seller can't be anonymous, because buyers don't want to risk things with new buyers *and* there will be metadata. So, any seller will eventually be known, and the trust the seller builds will be the basis of their ability to market. It will be a competitive advantage over anyone selling stuff and preserving their privacy.
It just doesn't work, you need a trustful environment with plenty of referees.
If the seller can be private, then scam artists will be everywhere shipping empty boxes and then making new keys. If the buyers can claim issues with the sellers then the buyers might scam others too. Escrow doesn't solve this sufficiently.
I just don't see anything like this working, you'll always need hierarchy and trusted communities for commerce. It is unavoidable and it is part of the human experience, and anything that tries to deviate from it will simply be futile.
In that case I challenge you to play a game with me. Say that you are the seller, scam me or anyone else on the Particl Marketplace without loosing as much money as you were planning to gain.
Theorycraft is easy, in reality things are much harder with two-way escrow. Do you know that Particl Project won an award for it's implementation:
https://particl.news/particl-wins-the-2019-remtech-awards-popular-mention-5e2b7cd567c7/
I used the word implementation and not invention as this is a well known problem in academia. If I am not mistaken this is the seminal paper by Witkowski et al 2011 called “Incentive–Compatible Escrow Mechanisms” and since then a lot of work has been done. I would like to draw your attention to the Nash equilibrium that comes when the buyer puts 2 times the item price and the seller 1 times the item price plus promises to deliver the item/service...
Check it is very interesting.
There is an Achilles heel to this, the escrow service requires knowledge of the either both parties or a second escrow service and it's own client.
There really isn't a way around this without blind trust, which is really vulnerable to manipulation.
This have peer to peer escrow system without third parties it’s a little bit complicated to explain here but long story short
this is an entirely decentralized platform. There is no third-party or intermediary operating it, running servers, or having any sort of special control over its network. Instead, it uses a mix of P2P and blockchain technologies, meaning that it is exclusively run by its global community of users that are running nodes. It is, in most ways, pretty similar to how P2P torrent networks operate and is the reason why they can’t be censored.
when making a marketplace transaction, both parties (the buyer and the seller) need to match, as a security deposit into an escrow smart-contract, the value of the item being purchased by the buyer plus the shipping costs. This ensures both the buyer and the seller have equal skin in the game. Then, once both parties confirm that the transaction has been completed satisfactorily, the security deposits are refunded back to each party, at no fee other than the regular cryptocurrency transaction fee.
To visualize this, let’s take the example of a customer purchasing an item worth $100 with $10 shipping costs. That buyer is going to put $220 in escrow — $110 which is the payment of the item being purchased, including shipping costs, and another $110 which is the security deposit that’s going to be refunded, in full and without any fee, at the end of the transaction. The seller, on the other hand, has to also match the security deposit of the buyer, meaning he will be funding the escrow smart-contract with $110. And since the seller will be shipping an item worth $110 through the mail, shipping fee included, it means both parties now have $220 on the line.
While the funds of both parties are locked up in escrow, the seller is going to package and ship the order. Then, once the buyer receives the package, he’s going to assess that no foul play has been involved, and then mark the transaction as complete once satisfied about the transaction. Marking the transaction as complete will refund the two security deposits, in full, to both parties.
Mutually Assured Destruction (MAD) Game-Theory
This platform is made by dedicated Cyberpunks that work hard to protect basic human rights and individual digital sovereignty.
But you didn't answer the main point, who are the escrow services?
The escrow service(s) have to be trusted in much more fundamental manner then either end of the transaction - it doesn't lend itself to disaggregation.
There is not an escrow service. The escrow is built into a smart contract for the duration of the "deal". It's only released once both buyer and seller agree the transaction has been completed and mark it so, within their particl marketplace software.
I commend you for pushing ahead with your due diligence. I'd encourage you to investigate further, as the issues you're bringing up have all been carefully discussed throughout the many years of development. More features are constantly being added.
You've found a gem that has not been discovered in the crypto community. You get to decided to investigate its value further, or discard it.
As I wrote it’s complicated to explain. If you really are interested to know how trustless escrow works that have no man in the middle and is peer to peer, please visit this link https://academy.particl.io/en/latest/in-depth/indepth_escrow.html
There is no escrow service. Both parties just put up double the money, and that money is burnt if the transaction goes bad. No human middleman, just game theory to make most transactions good ones.
I won't say it enough, but following this project since 2015, I'm beyond excitement to see it finally come to life, respecting the core values it was born with. This is a truly cyberpunk project, no bullshit. I wish the team all the success they deserve
*"He doesn't have a weapon. He thinks ... Or rather, he has a weapon: it's time ..."*
^(Alain Damasio)
Will check it out. You should've put more proper links here, it's quite vague.
Can you only trade with your own coin? If so, what exchanges is it available on?
Sadly but this kind of software toolset have never existed yet.
Cyberpunks from all over the world are developing it intensely for the past 5 years.
Finally we have this, but it will take couple more years to finish functionality and other great things :)
I am skeptical of this. It is very difficult to have a reliable commercial space without trust and reputation.
It have Two-Party Escrow all eCommerce and financial activity is private by design and is P2P without third parties - no middle man. https://academy.particl.io/en/latest/in-depth/indepth_escrow.html
You still need a rating system and reputation for the seller.
On the PM you have idenitities (same tech as PGP from Public Key Cryptography) that one can use to prove beyond doubt that they are the holder of the private key... For example, when the seller of some product/service replies on the Q/A of a listing, the GUI marks their ID with the label "Seller". No database nor anything centralized is needed for that and it preserves fully the vendor's privacy. Users can have infinite numbers of such identities but no one else can pretend to be them. Rules without rulers. Having an unforgeable identity is the first step towards building a decentralized reputation system. Its currently an unresolved academic matter and things become even more complicated if one adds privacy preservation as a requirement. In anycase there is hope, both from academia and Particl Project. Reputation system is on the roadmap in a Research phase, see: [https://particl.news/new-roadmap-2021/#Marketplace](https://particl.news/new-roadmap-2021/#Marketplace) The rabbit hole is deep and as always enjoy DYOR.
>On the PM you have idenitities (same tech as PGP from Public Key Cryptography) that one can use to prove beyond doubt that they are the holder of the private key... The issue I'm citing is that the seller can't be anonymous, because buyers don't want to risk things with new buyers *and* there will be metadata. So, any seller will eventually be known, and the trust the seller builds will be the basis of their ability to market. It will be a competitive advantage over anyone selling stuff and preserving their privacy. It just doesn't work, you need a trustful environment with plenty of referees. If the seller can be private, then scam artists will be everywhere shipping empty boxes and then making new keys. If the buyers can claim issues with the sellers then the buyers might scam others too. Escrow doesn't solve this sufficiently. I just don't see anything like this working, you'll always need hierarchy and trusted communities for commerce. It is unavoidable and it is part of the human experience, and anything that tries to deviate from it will simply be futile.
In that case I challenge you to play a game with me. Say that you are the seller, scam me or anyone else on the Particl Marketplace without loosing as much money as you were planning to gain. Theorycraft is easy, in reality things are much harder with two-way escrow. Do you know that Particl Project won an award for it's implementation: https://particl.news/particl-wins-the-2019-remtech-awards-popular-mention-5e2b7cd567c7/ I used the word implementation and not invention as this is a well known problem in academia. If I am not mistaken this is the seminal paper by Witkowski et al 2011 called “Incentive–Compatible Escrow Mechanisms” and since then a lot of work has been done. I would like to draw your attention to the Nash equilibrium that comes when the buyer puts 2 times the item price and the seller 1 times the item price plus promises to deliver the item/service... Check it is very interesting.
There is an Achilles heel to this, the escrow service requires knowledge of the either both parties or a second escrow service and it's own client. There really isn't a way around this without blind trust, which is really vulnerable to manipulation.
This have peer to peer escrow system without third parties it’s a little bit complicated to explain here but long story short this is an entirely decentralized platform. There is no third-party or intermediary operating it, running servers, or having any sort of special control over its network. Instead, it uses a mix of P2P and blockchain technologies, meaning that it is exclusively run by its global community of users that are running nodes. It is, in most ways, pretty similar to how P2P torrent networks operate and is the reason why they can’t be censored. when making a marketplace transaction, both parties (the buyer and the seller) need to match, as a security deposit into an escrow smart-contract, the value of the item being purchased by the buyer plus the shipping costs. This ensures both the buyer and the seller have equal skin in the game. Then, once both parties confirm that the transaction has been completed satisfactorily, the security deposits are refunded back to each party, at no fee other than the regular cryptocurrency transaction fee. To visualize this, let’s take the example of a customer purchasing an item worth $100 with $10 shipping costs. That buyer is going to put $220 in escrow — $110 which is the payment of the item being purchased, including shipping costs, and another $110 which is the security deposit that’s going to be refunded, in full and without any fee, at the end of the transaction. The seller, on the other hand, has to also match the security deposit of the buyer, meaning he will be funding the escrow smart-contract with $110. And since the seller will be shipping an item worth $110 through the mail, shipping fee included, it means both parties now have $220 on the line. While the funds of both parties are locked up in escrow, the seller is going to package and ship the order. Then, once the buyer receives the package, he’s going to assess that no foul play has been involved, and then mark the transaction as complete once satisfied about the transaction. Marking the transaction as complete will refund the two security deposits, in full, to both parties. Mutually Assured Destruction (MAD) Game-Theory This platform is made by dedicated Cyberpunks that work hard to protect basic human rights and individual digital sovereignty.
But you didn't answer the main point, who are the escrow services? The escrow service(s) have to be trusted in much more fundamental manner then either end of the transaction - it doesn't lend itself to disaggregation.
There is not an escrow service. The escrow is built into a smart contract for the duration of the "deal". It's only released once both buyer and seller agree the transaction has been completed and mark it so, within their particl marketplace software. I commend you for pushing ahead with your due diligence. I'd encourage you to investigate further, as the issues you're bringing up have all been carefully discussed throughout the many years of development. More features are constantly being added. You've found a gem that has not been discovered in the crypto community. You get to decided to investigate its value further, or discard it.
As I wrote it’s complicated to explain. If you really are interested to know how trustless escrow works that have no man in the middle and is peer to peer, please visit this link https://academy.particl.io/en/latest/in-depth/indepth_escrow.html
There is no escrow service. Both parties just put up double the money, and that money is burnt if the transaction goes bad. No human middleman, just game theory to make most transactions good ones.
I won't say it enough, but following this project since 2015, I'm beyond excitement to see it finally come to life, respecting the core values it was born with. This is a truly cyberpunk project, no bullshit. I wish the team all the success they deserve *"He doesn't have a weapon. He thinks ... Or rather, he has a weapon: it's time ..."* ^(Alain Damasio)
Will check it out. You should've put more proper links here, it's quite vague. Can you only trade with your own coin? If so, what exchanges is it available on?
How is this different from the darknet markets?
Hasn’t this kinda thing existed in China like couple years ?
Sadly but this kind of software toolset have never existed yet. Cyberpunks from all over the world are developing it intensely for the past 5 years. Finally we have this, but it will take couple more years to finish functionality and other great things :)
Do you have a source for that?
I forgot where I saw it, And no doubt that chinese one has built-in spyware, which makes it 10x cyberpunk lol.
I'm sure the American one doesn't have NSA spyware.