The open-source project OpenBazaar is now offering its customers to use Zcash, Ethereum, Ripper and other altcoins in addition to bitcoin, according t
The open-source project OpenBazaar is now offering its customers to use Zcash, Ethereum, Ripper and other altcoins in addition to bitcoin, according to cryptocoinnews.com. This is possible due to the integration of ShapeShift.io via the Shifty Button.
OpenBazaar, a decentralized network for peer to peer commerce online, allows its users to buy and sell things without restrictions and fees. The project launched 2015 and won three of five awards during the 2016 Blockchain Awards in New York City in May, among them “Best New Startup”, “Bitcoin Champion of the Year” and “Most Promising Consumer Application”.
“Enabling users to pay for OpenBazaar purchases with bitcoin and dozens of other cryptocurrencies was always something we wanted to do, and ShapeShift enabled us to do that quickly and easily,” said Brian Hoffman, OpenBazaar CEO and project lead before cryptocoinnews.com. “Our community has been very eager for this feature and we’re happy to be able to provide it through a great partner.”
The Shifty Button creates an easy-to-implement snippet of code. This is how the website is able to accept digital currencies. The code is free and open source and has been accepted by a number of bitcoin-friendly users, wrote cryptocoinnews.com. Moreover, both Shapeshift and OpenBazaar encourage permissionless exchange among users, said Erik Voorhees, founder and CEO of Shapeshift before cryptocoinnews.com.
Recently, CCN reported that OpenBazaar received $3 million in new funding thanks to BlueYard, a Berlin-based venture capital fund, Andreessen Horowitz and Union Square.
“There is no gatekeeper that can influence who can participate in the marketplace, what goods are sold and at what price,” the Berlin-based investor said of OpenBazaar in an interview with cryptocoinnews.com. “There is no central entity that can dictate search/ranking algorithms, control data of merchants and buyers, or charge any fees.”
While OpenBazaar gains popularity, some people remain skeptical towards the concept of free trade online. Their argument is that it may be dangerous due to security reasons.