Online retailer Particl.io officially launched its marketplace on Monday, Aug. 12, 2019. Particl is an entirely decentralized ecosystem built around a native privacy coin called PART. Particl is dedicated to addressing the biggest issues still plaguing crypto: the inability to effectively spend cryptocurrencies without friction, and with the full guarantee of privacy.
Particl network enables users to buy and sell goods without submitting any personal information to the marketplace operator. This makes the system fully private because the only required data is the shipping address. Therefore Particl cannot lose or divulge any of its user's personal information.
Because there is no central entity owning or controlling the Particl protocol, there are no commissions applied on top of sales. This is radically different from existing markets where fees for sellers can be as high as 45 percent of the cost of items. This allows vendors to dramatically increase their revenue, thus opening up the opportunity to reduce their listing prices to beat their competition, increasing their sales volume, while still making more profit for sale.
The absence of any third-party from the platform, combined with the various privacy protocols put in place, ensures that absolutely no data or personal information can be collected by any party. Some large online competitors have experienced hacks and do not yet offer the level of privacy that Particl is offering. A lack of privacy enables copycats to potentially steal the innovations and advantages of top sellers. Copycat sellers erode margins and discourage innovators.
Particl is a next-generation decentralized marketplace that goes beyond the pioneering work done by OpenBazaar. Indeed, unlike OpenBazaar, every single aspect of Particl's marketplace is built with user privacy and data protection in mind, ensuring that absolutely no data is generated when using the platform and that no personal information can be collected by third-parties.
Particl also approaches fraud protection and trade insurance differently by instead opting for a double deposit escrow system that requires no intermediary or arbitrator nor fees to be paid. As no single party owns or has any control over the Particl protocol, all of the listing fees generated by the marketplace protocol are redistributed, in full, to its global network of users.
Paul Schmitzer, of Particl Project Marketing & Strategy, stated: "Using a combination of P2P and blockchain technologies, Particl Open Marketplace can provide a verifiably private shopping experience that ensures no user data can be created or collected by any party other than the one you are transacting with."
