Open Bazaar announces roadmap for 2018

OB1 announces further plans for the Open Bazaar protocol. On the roadmap are the exploration of new platforms, better functions, an own token and a foundation for further development.

Open Bazaar is an open source protocol for a decentralized e-commerce marketplace. The users get in direct contact with each other via Open Bazaar. This means that there is no centralized party that manages money or goods. Buyers and sellers do not have Bitcoin Evolution to trust each other or a third party. Instead, cryptographic mechanisms ensure the integrity of the data. Payments are made with crypto currencies and held in escrow by multi-signature wallets.

In this respect, Open Bazaar for marketplaces represents a similar development to BitTorrent compared to Napster. In Napster, the data was still stored on central servers, while BitTorrent is completely decentralized.

Open Bazaar comes to mobile Bitcoin Evolution

As a priority for 2018, the project aims to expand to other Bitcoin Evolution platforms. First, it wants to provide integration for mobile devices. So far, no application has existed because Open Bazaar is to be kept decentralized – this requires the user to operate a full node. A mobile application with a built-in Open Bazaar Node will be developed in 2018.

The same applies to a browser application. Here, however, the matter is even more complicated. One possibility is to execute IPFS with Java Script and thus enable the use of Open Bazaar in the browser. Browser integration, however, is a larger project that will probably last until the beginning of 2019. The first step is a browse-only version in the browser, followed by a buy-only version and finally a full Open Bazaar node in the browser.

With more platforms, Open Bazaar will be made available Bitcoin Evolution to a larger audience. Currently, one has to download a desktop client to use it.

Better searches through an incentive system
Open Bazaar wants to introduce its own token to reward users for compiling search lists. These search lists should make the platform clearer and more user-friendly. The token system provides an incentive, similar to the Steemit platform.

Crypto currencies as a separate category
So far Open Bazaar offers physical goods, digital goods and services for sale. It is planned to introduce a fourth category, namely crypto currencies. Open Bazaar is thus also changing in the direction of a DEX (Decentralized Exchange) for crypto currencies.

In addition, automated purchases of digital goods are being sought. This means, for example, that when buying a song, the seller does not have to take any manual steps. Instead, the song is automatically available to the buyer after payment with a crypto currency. This feature therefore reduces the workload and at the same time reduces the trust required between buyer and seller.

Further plans for the future
Currently, development is being driven forward primarily by OB1. As a decentralized marketplace, the company now wants to successively reduce its role. A non-profit organization is to take its place. In this way, the project will be handed over to the community and further professionalized. Bug bounties, improved documentation and improved support are intended to ensure that Open Bazaar will face a secure future.

Difficulty bomb pushes course

The price has fallen steadily over the week, has tested the EMA100 twice and is currently at 0.038 BTC (41.87 EUR).

Summary of the results
The price has fallen over the week.
On April 5th and currently on April 8th the price tested the EMA100.
Since tonight the price is rising and is currently at 0.038 BTC (41.87 EUR).
Ethereum is not really doing well at the moment: the price has fallen over the week. The Difficulty bomb seems to deter investors. On April 2nd, the bearish crossover between EMA100 and EMA200 feared last week occurred. Admittedly, it has been rising since last night, but whether this will break through the existing downtrend will be seen in the next few days. In the end we already had such a development on April 5th – but unfortunately it didn’t work out there to overcome the resistance described by the EMA100. Will this work in the recapitulation?

The MACD (second panel from above) is currently positive, even more: the MACD line (blue) is above the signal (orange). According to the MACD, everything looks bullish.

With 55 the RSI (third panel from above) reinforces this bullish picture.

The Chaikin oscillator (lower panel) is positive and completes this picture. However, it should be noted that it is really just above zero.

Thus, the 60min chart looks bullish from the price development. We will have to see whether the price can break through the EMA100 – or bounce back at this currently most important resistance. According to the indicators, however, there is reason to hope for a breakthrough.

The long-term price trend
Let’s start with the 240min chart:

The 240min chart shows that there has been a downtrend since the end of March. Meanwhile, the support described by the EMA100 has been breached and the support described by the EMA200 has been tested. The indicators are bearish to mixed: The MACD is below zero, but the MACD line is above the signal since recently. The RSI is slightly bearish at 49. Finally, the Chaikin oscillator is negative and completes this bearish picture.

Let’s look at the bullish 1D chart at the end of the day:

The MACD is positive, but the MACD line dropped below the signal. The RSI has dropped further and is currently at 50 – and doesn’t say anything. The Chaikin oscillator is negative after all.

We will have to wait and see how the price behaves on the EMA100 of the 60min chart. Should the price bounce there again, the support described by the EMA200 on the 240min chart would be breached – which would further confirm the bearish medium-term picture. Conversely, a breach of the EMA100 on the 60min chart would also strengthen the price’s position above the support described on the EMA200.