Blockchain Based Marketplace
With the rise of computers and information technology, people prefer most of their business to be conducted digitally. This paper focuses on the need of a blockchain based digital marketplace which is secured and efficient. A blockchain is a public ledger to which everyone has access but with-out a central authority having control. It is an enabling technology for individuals and companies to collaborate with trust and transparency. One of the best known applications of blockchain is the cryptographic currencies such as ether, bitcoin, ripple, etc, but many other applications are possible. Blockchain technology is considered to be the driving force of the next fundamental revolution in information technology. Many implementations of blockchain technology are widely available today, each having its particular strength for a specific application domain.
Our project aims to provide a distributed marketplace where sellers can list out the item or product for sale on the website and buyer can have the ownership of the product by buying it through cryptocurrency. In this marketplace ether is used as a cryptocurrentcy. The buying and selling is as simple as buyer sending ether cryptocurrency to smart contract and the smart contract will dispense the product to the buyer thus providing the ownership and it will also transfer the cryptocurrency payment instantly to the to the seller.
Keywords - Blockchain, Marketplace, Ethereum, Ether, Blockchain Applications, Smart Contracts.