eosbay is a planned smart contract powered e-commerce platform that will facilitate consumer-to-consumer and business-to-consumer sales through this website, as a decentralized parody of eBay.
To gain a basic understanding of EOS and its smart contract capability, this video can help explain:
For everything else, there's the EOS Handbook.
eosbay will utilize a smart contract on the EOS blockchain that offers an escrow system that mainly operates by monitoring tracking numbers uploaded to the site, i.e. the tokens used to make payment are locked in the contract until the tracking number shows that it has been delivered. Peripheral features may include the issuance of feedback in the form of non transferable tokens (NTTs) from the contract to the seller and buyer accounts, i.e. positive, neutral, and negative feedback NTTs would each have a registered ticker symbol on the blockchain up to 7 characters long (such as EOSBAYP for positive, EOSBAY0 for neutral, EOSBAYN for negative) and a corresponding image representing the feedback type. Positive feedback could be a NTT sent to the seller's EOS account with a memo that reads: eosbay-item#199732feedback=positive&buyercomment="Item as described, quick shipment. Perfect seller!" This would be viewable from any block explorer, and each seller and buyer on eosbay would gradually accrue a "balance" of these tokens on their EOS account, as a transparent and immutable feedback system. This mockup image demonstrates a user with 3,901 positive feedback as seen from a block explorer:
The content of listings can easily be stored on the EOS blockchain as well, an example being in the case of images; images of a product uploaded to eosbay would be converted into a Base64 string, and published to the blockchain as large data in the memo field of a transaction or push action. The eosbay web application would contain frames on its webpages, namely the search results and listings, that render this string back into an image when a user searches for the item it relates to with the search bar, or clicks on a listing. This alone would greatly reduce the resource requirements of eosbay, i.e. there would be no need for file storage service.
Buyers and sellers alike would register not with an email address and password, but instead with an EOS account from a wallet client such as Scatter. EOS accounts feature human-readable names, and the most common type is 12 characters long. This name would thus serve as their username; as with any other platform, it is computationally impossible for two usernames to be the same. EOS is a platform allowing vanity addresses (actually account names) as well as the ability to change private keys associated with an address/account. Click here to learn why having the ability to change your private keys is important!
Resources needed to interact with the eosbay dApp, namely CPU, would be completely covered by eosbay at no cost to the user, as having a large amount of EOS tokens staked to CPU is essential for carrying out large volumes of transactions, and individual users would simply be unable to afford it.
The founder of the eosbay project, Kyle "Usher Techs" Usher, plans to hire a team of highly skilled and experienced developers within the eos.io ecosystem as well as front end designers to bring this project to life. Unfortunately, this will require a vast budget, which is currently out of reach. However, Kyle was fortunate enough (maybe) to accumulate a vast number of high quality EOS vanity account names, which are known to command high premiums at auction, at least in bull market conditions.
Hundreds of these names are listed for sale on a special sales platform of their own called "EOSNameSwaps", which is an open-source EOS account exchange that puts the security of its users first. EOSNameSwaps features "shops", where individuals in possession of at least 5 names can consolidate them under for ease of location on the site. The name of the shop where the aforementioned hundreds of names are listed is called EOS Name City, and it is the largest shop on the site as of this writing, and possibly the largest individual account seller on the entire EOS network.
If you're an EOS whale and want to help accelerate the funding of eosbay and other possible dApps and projects, please consider buying a name (or 2) from EOS Name City. It is likely that by the time EOS becomes successful enough for the names to be worth anything that a dApp similar to eosbay will already exist. But with the right funding, eosbay can be built with exceptional quality and resources that will allow it to still outshine the competition. After all, if people in late 2017 were willing to pay nearly $20,000 for a single digital token that couldn't even be distinguished from another (looking at you Bitcoin), what is there to say that this doesn't stand a chance? Not only that, but Block.One, the creators of the software behind EOS, bought the voice.com domain name for $30 million in 2019. Interesting times we live in.
The shop can be accessed here, under the "Shops" tab.
If the EOSNameSwaps website ever goes down, its smart contract can still be interacted with from any EOS wallet; by sending the asking price of any given name to the "eosnameswaps" account with the memo "sp:name,publickey1,publickey2", for example if a buyer's public key was "EOS8WefAhjR947DdnJWefDAANJjfjJyJjCR9a19aArLKDTb3gBdMG", and they wanted to buy the name "noncustodial", they would send 1,000 EOS to the contract with the memo "sp:noncustodial,EOS8WefAhjR947DdnJWefDAANJjfjJyJjCR9a19aArLKDTb3gBdMG,EOS8WefAhjR947DdnJWefDAANJjfjJyJjCR9a19aArLKDTb3gBdMG", without the quote marks. This could be done directly from an exchange as well. Funnily enough, this is already a crude predecessor to eosbay. You can also like EOSNameSwaps on Facebook.
Alternatively, you can donate EOS and other tokens directly by sending them to the account "kynancial123"; simply scan the QR code below from any mobile EOS wallet. Not that a QR code is needed, because it's easy to remember 12 characters.
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