OpenBazaar Edges Closer To Finalizing Ethereum Blockchain Integration

OpenBazaar Edging Closer To Finalizing Ethereum Integration

OpenBazaar, an open-source project development protocol for transactions in the e-commerce space within a decentralized market, is almost done integrating Ethereum into their system. According to a Tweet responding to a user’s request on the progress of their DAI and/or ETH roadmap, OpenBazaar said they were already finalizing on development.

Previously, open-source project development protocol had made public their plans of supporting several cryptos, including Bitcoin, Ethereum, and ZCash. According to this company, the decision to focus on Ethereum, irrespective of how difficult the whole process would be, was majorly informed by three reasons.

Firstly, the fact that Ethereum has the second largest following after Bitcoin automatically means it also has a massive commanding. Also, Ethereum, according to OpenBazaar, has an enormous and exciting developer activity, a factor that greatly contributes to its popularity. And lastly, the community behind this cryptocurrency embraces the coin with visible eagerness, as they believe the token is destined for real-world commercial uses.

However, according to a Blog post, OpenBazaar intends to go ahead and incorporate Ethereum’s smart contracts and ERC20 payments. This would ensure the development protocol suitably meets the needs of markets that often are incredibly challenging to use cryptos whose scripts are similar to that of Bitcoin.

Furthermore, having Ethereum at the heart of its operations will potentially boost the kind of products and services the marketplace accommodates. All these incentives will go a long way in quelling the myth that OpenBazaar users do not be needed to use Ethereum and only have to stick to Bitcoin or other tokens.

News regarding this integration first made headlines over a year ago when the development protocol’s co-founder Tweeted about it. In his update on April 19, 2018, Washington Sanchez expressed regret in focusing too much on what he termed “Bitcoin maximalism.” Ethereum’s developer, Vitalik Buterin, then was at hand to welcome him, nonetheless.

The excitement soon gained entry into Reddit where, as expected, the response was rousing. Mjkeating, a Redditor, expressing his sentiments, said OpenBazaar still had a lot to do in order to fully integrate ETH 2.0 into its operations.

This prompted Washington Sanchez, in his pseudonym, drwasho, to set the record straight. He said they were completing development with the smart contract-powered escrow system done, Zeppelin-audited and ready to accept ETH and other ERC-20 tokens, though they’d inform the public.

According to his reply on Reddit, Sanchez said the decision to reduce their focus on Bitcoin and all the other UTXO-based tokens and instead focus on ETH is exciting for their ecosystem. He, however, added that they would soon start supporting DAI and also release a dedicated mobile app whose code had been written already.

Ethereum (ETH) Live Price

1 ETH/USD =$3,950.9185 change ~ -4.28%

Coin Market Cap

$457.63 Billion

24 Hour Volume

$30.8 Billion

24 Hour VWAP

$4 K

24 Hour Change


Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide