The Origin Protocol Has Launched Mainnet bet for the Marketplace DApp

Origin, which is a protocol for creation of P2P marketplace using Ethereum and IPFS recently announced that the beta version of its mainnet had launched. At the end of September, the Origin team launched the first version of their smart contracts to mainnet. They also deployed their marketplace DApp.

A Short History on Origin

Origin Protocol launched on October 9, 2017. The recent announcement is a major milestone for Origin, which seeks to enable P2P commerce using the blockchain. Right now, real sellers and buyers can transact without the high fees. Users on this platform use the self-sovereign ID via the ERC 725. They can communicate over a secure decentralized messaging platform.

During the mainnet period, users will be able to transact using real ETH on a Craigslist-like marketplace. Since it is beta, the Origin team is still looking to add various new features such as fractional usage listing and multi-unit listings. Right now, they are debugging issues and fortifying the security of the platform as the smart contracts are still being audited.

Important things to Note

DApps work a bit differently. The data is stored on the blockchain and IPFS instead of the Origin servers. The user accounts are the Ethereum wallets. Ensure that you safely store the private keys since they are not recoverable.

Take care when you deal with counterparties that you do not know. You will need to message counterparties to ensure that you are comfortable with them. Origin recommends that you verify your identity to let others know who you are.

Origin offers a basic arbitration process. The team members will make judgments when a dispute arises. However, note that they can only award funds that are escrowed in smart contracts. There is no insurance for any listing. As a seller, you might wish to avoid renting high-ticket items.

During the beta stage of the mainnet, the tokens of the previous token sales will not be distributed. The tokens will be launched during the launch of the app. Origin’s team expect this to occur when they exit the beta stage and are confident the platforms works perfectly. They will also need to ensure smart contracts are secure before launching the tokens.

How to Get Started

To get started with the transaction, the users on the Origin DApp will need a crypto wallet. This wallet has to be attached to the browser. The team recommends that you use the Metamask extension on Chrome or Firefox. Install it and create a wallet. You should then transfer some ETH to it before you start using the DApp.

In the second step, Origin wants users to use Origin Messaging. With the platform, users can communicate with each other directly. If not using this messaging platform, it will be difficult for counterparties to interact. This messaging platform is great for buyers to talk to each other in a secure way. Messages are encrypted. Only the two parties can decrypt them and read them.