Origin Protocol - Decentralized Peer-to-Peer Marketplaces - Review

Since the revolution of internet has begun and it's globally acceptance increased the idea of E-commerce has spread across the world. To pair buyers and sellers digitally, eBay and Craigslist launched in 1995. These Digital marketplaces have paired buyers and sellers of goods and services to enable transactions that were never before possible.

In a significant time of 25 years, loads of Internet based commercial centralized organizations in both the B2C and B2B classifications have prospered.

Presently, sharing economy commercial centers like Amazone, Alibaba, Airbnb, Uber and Fiverr have matched purchasers and merchants of the imparting economy with great success. Now, people all over the world can buy or sell their things easy as 1, 2, 3.

As these internet based business marketplace have banging success now, it is too difficult to get listed on there network. It require millions of dollars to just get off the ground. if we talk about Uber and Airbnb it will be billions of dollars. They are also charging very high service fee for every transaction that happens on their network. This has become the biggest side effect of the centralized E-commerce network.

Blockchain innovation is one of the best advancement in over the previous years. Keeping every one of the issues in consideration blockchain innovators and financial specialists have called for teams to build decentralized versions of existing sharing economy businesses and create an even more efficient way to conduct Internet commerce. The solution is coming into the light as Origin Protocol to guide in decentralized commerce for the sharing economy at scale.

What is Origin Protocol?

Origin Protocol is a Ethereum based Peer-to-peer E-Commerce marketplaces which is designed to connect buyers and sellers of the goods without commission seeking middlemen. Origin Protocol is a platform to create decentralized marketplace of e-commerce. No matters what kinds of business you are doing, Origin makes it easy to do business on the decentralized web.

With Origin, buyers and sellers are able to transact in a truly peer-to-peer fashion without rent-seeking middlemen. We believe in lowering transaction fees, promoting free and transparent commerce, and giving early participants in the community a stake in the network.

How it works ?

Origin platform power decentralized marketplaces everywhere. The working process of Origin platform is very simple as this is a decentralized platform so there is no need of middleman. It works on peer to peer approach. Here im stating four simple steps how this platform works.

1. The person who are in the need of goods or any other service search and browse for sellers' who are already listed on the blockchain through DApps built on Origin Protocol.
2. If the user find suitable product the he will submit offers and escrowed payments to Origin Protocol marketplace smart contract.
3. Its all upto the Sellers to accept or reject the offers from prospective buyers. Either he can reject the offer or can make the deal.
4. After the finalization of offer, the smart contract releases escrowed payments to sellers.

Main Components of the Dapp

The Origin Protocol have three main components that are all open source.

1. Origin-enabled decentralized applications :

This is the decentralized e-commerce place build on the Origin Protocol where buyers and sellers of the goods or services interact with each other this place can be find following this URL shoporigin.com . IOS and Android apps also available on play store/ App store.

2. Origin developer infrastructure:

Origin protocol are intend to build a developer ecosystem which can help to increase third party Dapps on the network. They are working to release developers friendly easy to use library which can simplify the developing process.

3. Origin protocols:

Origin protocol is responsible for many decentralized market place features including user identity, publishing listings, and peer-to-peer transactions. The data will be stored on Ethereum Blockchain and IPFS Network so anyone can query both the blockchain to find information.

Features of Origin Protocol

Peer To Peer Network

The very first thing is that the whole protocol is decentralized and there is no need of medal-man which makes it very interesting.

Blockchain-Powered Transactions

As the platform is based on peer to peer so all the Funds are escrowed on our marketplace smart contract.

Reputation Systems

We can give rating and reviews to product and services as centralized market place

Payment System

We can pay using ETH or OGN to make payments and also we can use DAI stable coin for making payments.

TEAM

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MEDIA PARTNERS

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ADVISORS

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Ranking of ORIGIN PROTOCOL at State of the DApp

ORIGIN PROTOCOL is one of the decentralized Marketplace DApp listed on the State of the DApps platform. Presently, the ranking of origin protocol is at #70 on the State of the DApp.

My Experience and How Origin Protocol Can Improved?

I have amazing experience of this DApp the interface is quite impressive and simple to use and also user friendly. if the payment system contain more ways then this could be rising Amazone or eBay.

Star Rating & Conclusion

Origin Protocol is looking a promising project in Blockchain World because the concept of the project is good and they are working hard to achieve their goals. Providing a Decentralized E-commerce marketplace is a good thing for developing online business.In the conclusion I just want to say that I have good experience of the Dapp and I appreciate the great work of team for this amazing Dapp.

I will give 4 out of 5 Star Rating to this project.

References
Official Website
Whitepaper
Screenshots are taken from official website.

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@ajks