The Decentralized Market Protocol
Decentralized commerce with Decentralized currency. Transact freely with no gatekeepers end to end.
Eden creates a simple framework for any website or existing online market to become a decentralized marketplace with full decentralized escrow, vendor reputability, and user accounts. Any website can create an Eden portal and connect to Eden’s shared backend.
How it works
Eden’s heart is built on the Ethereum blockchain. Eden’s smart contract contains the ERC20 tokens, Eden (EDEN), which will be used as the native currency for all transactions on the market. The smart contracts will also store all relevant user data, from pending transactions to vendor reviews. Therefore, Eden’s core back-end data will all be decentralized on the blockchain, and impervious to any sort of shutdown as there is no single point of failure. All escrow is handled and held in Eden’s smart contracts; Administrators of Eden’s marketplaces (portals) will never have access to the funds, making an exit scam impossible.
Eden’s blockchain will connect to many Eden portals, which are URLs and front-end websites that will act as interfaces for users to interact with the Eden marketplace. Eden portals will pull information from the blockchain in order to populate necessary data. Many portals will be able to operate in cohesion, and if one portal goes down for any reason, it will not affect the overall marketplace. Many third parties are able and encouraged to make their own Eden portals to interact with the market including existing online marketplaces. They will have incentive to do so from fees generated by arbitrating escrow transactions.
A common analogy for knowing when we have reached real cryptocurrency adoption is when we are able to use cryptocurrencies to buy coffee and goods as we go about our day. without realizing that the most important first step for real cryptocurrency adoption is hidden in plain sight, online transactions, and online commerce.
Online commerce was the original use case of cryptocurrencies. Unfortunately, they were used purely for illegal transactions on centralized web sites. As the web sites were centralized, the decentralized nature of the cryptocurrencies were nullified, as they had to be transacted through a centralized institution. These illicit centralized institutions routinely fail, and although new institutions sprout up in the wake of the old, centralized institutions with routine shutdowns will not build a foundation for cryptocurrency adoption.
To make use of the advantages cryptocurrencies provide, any online marketplace must be peer to peer. Otherwise, cryptocurrencies peer to peer nature is nullified by a centralized usage environment.