Developers working on the online decentralized marketplace and currency trading platform OpenBazaar platform, OB1, have determined to form a new product that will serve as a crypto marketplace for mobile owners. As per the report, the new market will be entirely decentralized, and it will be known as Haven.
Using haven, users will be able to buy and sell goods and services with each other, using cryptocurrencies, without depending on the middlemen. By doing this, nobody will be able to cut their transactions and collect shoppers’ data.
As per the team, the app is divided into four different sections, which can be used by clients. These four sections include shopping, social, chat, and non-custodial multi-wallet. To utilize all the features of this peer-to-peer network, the user’s data is locally stored and protected by end-to-end encryption; this means just the parties involved in the sale or conversation will be able to see the details.
OpenBazaar, the first platform formed by the group, became successful. Later, OB1 released the 2.0 version of OpenBazaar, 250,000 new nodes joined the platform. Jenn cloud, who is leading the OB1 Communications said, “there is a core user base of several thousand who frequently use the software and many more are casual users.” A significant proportion of the “long-lasting nodes” are merchants.
“We’ve heard many stories from merchants about finding OpenBazaar a refugee from the high fees, restrictive terms and conditions, and poor treatment of merchants on eBay and Amazon.”
The latest app will have some of the features just like OpenBazaar; however, it will not support P2P Cryptocurrency trading. Also, dispute moderation is only supported by the desktop client.
It should also be noted that social feature plays an essential role in the overall ecosystem. Using this feature, people will have an open channel for communication; by this, they will be able to communicate freely.
Similar to OpenBazaar, Haven will also support Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), and Zcash (ZEC). One representative stated that the plans for an earlier reported native token, OBC are on hold.
Also, the team plans to add support for Ethereum. Even though “no firm plans have been made by the OB1 team several in the OpenBazaar community have begun work to see if it’s possible to support Monero,” said Cloud.
Haven is available for both Android and iOS users. Also, the firm is providing exclusive deals like fifty percent off on some electronics and Haven store gift cards, posted in the app “at undisclosed times.”
OB1 has collected $9.25 million until now from some investors. These include Union Square Ventures, Andreessen Horowitz, OMERS Ventures, BlueYard, Bitmain, Digital Currency Group, and venture capitalist William Mougayar.