A fully decentralized marketplace

[boldfi]

Greetings,

   Lately, I've been contemplating the feasibility of a fully decentralized marketplace. This marketplace would primarily operate through
   smart contracts, ensuring decentralization and seizure resistance.

   Indeed, all that would be needed to sell and buy on the contract would be the contract' address.
   From that anyone could open its custom frontend access, like an access point.
   So even an 'access point' being taken down, the core of the marketplace would still live somewhere in the wild on the blockchain.

   In the case of physical goods transactions, the contract would encrypt the buyer's home address with the seller's key,
   ensuring that only the buyer and seller could access it.

   To address concerns about scams, sellers could be rated through an upvoting system, and feedback mechanisms could be implemented.

   However, there is one challenge to consider: fees. Any action that involves writing data, such as posting a product for sale or upvoting a seller,
   would incur gas fees. Nevertheless, on blockchains with very low fees, such a decentralized marketplace could still offer significant benefits, in my opinion.

   So i'd like to get your thought and feedbacks of such a market, solely based on smart contracts. 

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[tabas]

Like opensea? While it is a marketplace for NFTs, the fee is certainly a big concern but it seems that most of the networks for altcoins aren't that expensive at all. But a time when the demand gets higher especially in the ERC20, the fees are also going to increase together with the demand.
Whilst there are other networks that are being supported for each coin, you can consider that as well that your marketplace is open for different networks and wherever is the customer is confident without having interruption and problems with the fees.

[Potato Chips]

How user friendly do you think your platform be? -- not a rhetorical question, BTW

I think one of the biggest challenges of such marketplaces is onboarding users esp seeing what went down with openbazaar. Perhaps, you could think about hitting a middle ground between security and user friendliness? 🤔 (tho im not sure what that is ofc )

[boldfi]

Like opensea? While it is a marketplace for NFTs, the fee is certainly a big concern but it seems that most of the networks for altcoins aren't that expensive at all. But a time when the demand gets higher especially in the ERC20, the fees are also going to increase together with the demand.
Whilst there are other networks that are being supported for each coin, you can consider that as well that your marketplace is open for different networks and wherever is the customer is confident without having interruption and problems with the fees.

Opensea is one among many marketplace for NFTs. I'm thinking a real marketplace where people meet to exchange good and services against cryptocurrency. Indeed fees would increase when demand increases.
But on low-fees blockchains, publishing a product would cost less than a dollar.
Furthermore, i think fees could actually be leveraged to protect the market against spamming and scams.

How user friendly do you think your platform be? -- not a rhetorical question, BTW

I think one of the biggest challenges of such marketplaces is onboarding users esp seeing what went down with openbazaar. Perhaps, you could think about hitting a middle ground between security and user friendliness? 🤔 (tho im not sure what that is ofc )

I actually misused the forum after my registration and here is my original post, where i talk about user friendliness
https://bitcointalk.org/index.php?topic=5494082.0

[Potato Chips]

I actually misused the forum after my registration and here is my original post, where i talk about user friendliness
https://bitcointalk.org/index.php?topic=5494082.0

Nice! I particularly like the user-friendly frontends idea! However, I'm curious if there would be any drawbacks for opting to this in terms of security or privacy?

[tabas]

Like opensea? While it is a marketplace for NFTs, the fee is certainly a big concern but it seems that most of the networks for altcoins aren't that expensive at all. But a time when the demand gets higher especially in the ERC20, the fees are also going to increase together with the demand.
Whilst there are other networks that are being supported for each coin, you can consider that as well that your marketplace is open for different networks and wherever is the customer is confident without having interruption and problems with the fees.

Opensea is one among many marketplace for NFTs. I'm thinking a real marketplace where people meet to exchange good and services against cryptocurrency. Indeed fees would increase when demand increases.
But on low-fees blockchains, publishing a product would cost less than a dollar.
Furthermore, i think fees could actually be leveraged to protect the market against spamming and scams.

IMHO, ETH was once a low fee transfer for most of its tokens before known as ERC20 tokens. But once the demand has increased, aside from its growth, the spams and scams will be part of it. Wherever the people are, there goes the scammers that will try to fish(phish) a lot of those people that are using that blockchain. That's why, there's actually no solution for that and those boasting their TPS are because they're not yet crowded but soon, we'd see how they're going to respond on the demand that their network is having.

[boldfi]

Nice! I particularly like the user-friendly frontends idea! However, I'm curious if there would be any drawbacks for opting to this in terms of security or privacy?

Since anyone could create a frontend and publish it, it would theoretically be possible for a malicious actor to open a rogue access point which actually doesn’t interact with the original contract. Though, it would easily be verifiable by anyone, and such access points would rapidly be flagged and remain unused.

Even if some reputable apps and frontends would be deployed, the only way to be 100% sure to never loose access to the market, would be to save the main contract address, and to interact with it directly, or through a front end that runs locally, which is extremely simple.