Monday, July 31, 2017

BitBoost - Introducing The Block

 


Bitboost - A new ECommerce experience

The Block is a decentralized e-commerce platform, designed for better privacy and with very low commissions. It is based on Ethereum smart contracts, which use the ETH currency for all payments, except for the raise of products for sale.

Now, we must understand what a crypto currency, in simple words, is a digital way of exchange, which operates through cryptography, in order to secure transactions and control the creation of additional currency units.

This system allows to: Reduction of the cost of the transaction since there is no intermediation; reduce the times; eliminate the need of financial agents to conduct transactions.

This currency has also generated controversy, since one of the possible uses of crypto currency is the purchase of drugs and other illegal items in black markets on the Internet. This has already provoked its prohibition in some countries, as for example Bolivia which is the first country with this restriction since 2014.

The Block Whitepaper explains why Ethereum is used. Ethereum which is a decentralized platform that allows the creation of smart contracts between peers. Being a downloadable application that connects with Blocker of Ethereum, The Block does not depend ons centralized websites or any other service. This means that there is no agency regulating digital exchange, restricting payments or collecting user information. Almost all payments are made in ETH, which is similar to bitcoin in its volume of exchange and liquidity. Read the complte whitepaper here

Payments

All items will be purchased by consumers with ETH, and arbitration fees will also be agreed at ETH. The only exception is the commission for the upload of products to the platform. To create a viable revenue model for investors this commission will be paid with BitBoost token (BBT), which will be sold in a massive funding campaign. A fee of $ 1 in BBT will be charged for each item uploaded to the platform.

The internal wallet of The Block will be created from a password generated by the user. Private keys will be stored and encrypted on the user's computer or phone (none will go to the BitBoost team or any third party). To fund-fill the wallet, users can send funds from an external wallet (or an exchange), and they can also use ShapeShift's to convert other cryptones without leaving the application. This requires a little knowledge on the subject.

How can I register?

The Block does not request any personal information from its users to access its services. For registration or use no e-mail address is requested. Sellers and buyers create their own aliases when they start using the platform. These can be anything, such as a name, an Ethereum address, or even a random string of characters. Sellers will need to upload images of their products and these can be hosted for free on private web services like imgur.com. This functionality is integrated into The Block.

Security and communication

For security issues, all external services will use HTTPS connection, such as integration with ShapeShift, which will allow all users to pay with any currency. This avoids the possibility of a man-in-the-middle (MitM) attack, where a hacker is placed between the source and destination of the information sent, intercepting it before relaying it to the recipient.

All communications are encrypted using a session key that is generated when an item is purchased. This means that a new key is generated for each interaction, while the old one is discarded. Keys are not reused. This is considered to be safer than using a single key, since in the unlikely circumstance that a key falls on the wrong hands this would be useless for access in future interactions.

The experience

The brief but remarkable history of the crypto currency has shown that it is not enough to have a decentralized platform that offers fundamental advantages over its centralized equivalents.

Users will not start using a new service until the change is made easy and this can only be seen over time.

Introduction The Block



The Team:

The Bitboost team is made up of experienced developers, using the latest technologies. Two members of the team are the developers (Paul Mahone and Andrew Lekar) of a previous decentralized marketplace, NXT FreeMarket, and this experience has helped to make Bitboost a cutting-edge, feature-rich app.

ANDREW LEKAR
FOUNDER LEAD DEV BACK-END
Andrew has been a blockchain developer for a long time, involved with NXT since the beginning. He is a specialist in Javascript, databases, encryption, and security, and has built all the smart contracts that drive The Block.
PAUL MAHONE
FOUNDER LEAD DEV FRONT-END
Paul is an Italian/US programmer living in Switzerland.
In addition to Italian, Paul speaks English and Japanese, and has lived and worked in North America and Asia. He has been involved in various electronic marketplaces since 1992.
During the 1990s, Paul served as CEO of Molecular Robotics, the first nanotechnology company to be listed on the NASDAQ.
GIANLUIGI DAVASSI
CTO
Gianluigi is a software engineer living and working in the rich Fintech ecosystem of Berlin. Focused on the Java8 stack, he’s an algorithmic trader and smart contract developer, and he possesses a profound knowledge of the blockchain and Tangle.
MAKSIM SERGEEV
UI DEV
Maksim is an experienced javascript/typescript developer focused on MEAN stack. Wizard with Angular, React, Node.js and many other modern javascript-related technologies.
RICCARDO SCANAVACCA
iOS DEV
Riccardo is a mobile developer based in London. A self-taught programmer and keen technologist, he strongly believes the future will rely on distributed ledger technology and its various applications.
When he is not developing new ideas and opportunities, he works on the internal iOS apps for the BBC.
SAMUELE MARAN
FOUNDER PROJECT & MARKETING
Samuele is a blockchain crypto enthusiast, visionary, and entrepreneur. He spent the last three years investigating the potential and applications of new technologies related to crypto-currencies.
His role like the community manager will be to organise customer relations, community and media marketing.
ALVARO RODRIGUEZ
MARKETING
Alvaro it´s a seasoned digital marketing manager, project manager, entrepreneur and blockchain enthusiast.
His role will be helping Bitboost team achieve their business objectives, becoming the most popular blockchain-based marketplace.
ALESSANDRO TOZZI
COMMUNITY MANAGER AND MARKETING
Alessandro is Technology Transfer Director for Boston Entrepreneurship Center , project manager, entrepreneur and blockchain enthusiast.
Alessandro will help Bitboost team as start-up advisor, community and bounty manager. becoming the most popular blockchain-base marketplace ever!


So how does it work?



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