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Crypto Market OpenBazaar Confirms Upcoming Support for Ethereum

P. H. Madore
Decentralized marketplace OpenBazaar is expanding its support to include ether. | Source: Shutterstock

By CCN: Casually, OpenBazaar announced this week that it would be adding support for Ethereum. A random promotional tweet from the OpenBazaar account led one follower to ask about support for Ether and Dai, the algorithmic stablecoin which has over 1% of Ethereum locked in its contracts. The official account for the marketplace responded that Ethereum support is almost complete:

OpenBazaar Confirms Ethereum Support Soon

OpenBazaar confirmed to a Twitter follower that Ethereum support is almost complete. Source: Twitter

First Ethereum, Then Tokens?

OpenBazaar is a decentralized, censorship-resistant commerce application that allows anyone to sell anything, anywhere. While it bills itself as a way for artists and small business people to have a fighting chance at owning their presence online, the platform did emerge in the wake of the Silk Road’s closure.

The platform doesn’t nakedly support the selling of drugs – it’s on the user what gets listed – it doesn’t stop it either. When the Silk Road fell, and plans for OpenBazaar were announced, demand for decentralized markets was at an all-time high.

People took their chances on darknet markets that arose to fill the void left by the Silk Road, such as Silk Road Reloaded and others that didn’t last long. A few of the markets that did survive, such as Wall Street Market and Dream Market, recently shut down.

It’s unclear how much of the shutdowns had to do with law enforcement. We do know that some darknet operators were arrested, and then warrants for the proprietors of DeepDotWeb, a once-reputable site for information about the darknet, were executed.

The Crest of the New Darknet

It’s 2019, and governments finally seem to be waking up to the limitless power of blockchain technology. The Marshall Islands just announced that they’d be moving entirely to a new cryptocurrency they’re launching. Several countries are learning how to regulate and track blockchain transactions.

Read the full story on CCN.com.