Author: Melvin Carvalho 2015-05-02 02:01:35
Published on: 2015-05-02T02:01:35+00:00
METAmarket is an open source protocol and reference client for a trustless federated marketplace that uses Bitcoin as a universal currency and Bitmessage as a P2P communication network. This system aims to eliminate the need for trusted third parties and middlemen, and mitigate systemic vulnerabilities such as transaction malleability through a federated reputation model. The client application is used to post, browse, and execute trades, and requires a Bitcoin Core wallet to handle payments and refunds. The motivation behind METAmarket is to address issues with overly centralized marketplaces and payment services that extract high fees, impose excessive control, and remove privacy from users. As more commerce moves online, consumers may find their lifetime history of purchases for sale to advertisers, employers, or government agencies. The ideal system would involve secure private transactions directly between buyers and sellers without middlemen collecting data or adding fees. There is no apparent relation between METAmarket and the work Satoshi was doing in the Bitcoin Core before he left.
Updated on: 2023-06-09T19:26:46.401957+00:00