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Phore Marketplace Development Update — 02/25/2020

By February 25, 2020 No Comments

Greetings community.

It’s been a while since the last Marketplace update and in this time we’ve been busy beavering away, meaning we can kick off this report with some fantastic news…

…The first Bitcoin purchases have taken place on the Phore Marketplace!

A (Testnet) Phore Marketplace wallet showing completed Bitcoin transactions.

By integrating Bitcoin into the Phore Marketplace, we increase our target audience by an incredible amount — for perspective, there are currently 40Million+ Bitcoin wallets versus 10,000 Phore wallets.

The growth potential of the Marketplace has just increased immeasurably and we will be announcing the release date for this newest version very soon!

Other news

Alongside the Bitcoin integration, we’ve also been working in other areas of the Marketplace, these include:

  • Making changes to the back-end architecture
  • Creating and supporting testnets on the Marketplace
  • Security enhancements

Back-end Architecture

The Phore Marketplace’s back-end has been improved using the Insight server, which is the same infrastructure that many hardware wallets (such as the Trezor wallet) use. This will help with compatibility as additional coins become supported on the platform —

Testnet Support

Time was spent setting up testing networks for the marketplace to create an independent testing environment for new listings. This integrates other blockchain testnets, and will make future changes and debugging faster and easier.

Security Enhancements

Currently, the marketplace supports RPC passwords, but only if the back-end and front-end are run separately. However, most people run these consoles together so that the log-in does not apply (wallet keys are used to log in). We will be adding an additional layer of security that is password-protected, which will encrypt all of the user’s seed-words. Once set up, this would require the user to unlock the wallet with their password prior to viewing any of their seed-words.

This setup enhances security from local machine hacks, as users who share machines will need to enter your password before being able to view transactions and seeds.

The Road Ahead…

… is a particularly bright one for the Phore Marketplace!

With the release of the newest version, we’re on the home stretch and will be releasing a FULL (non-beta) version of the Phore Marketplace in the very near future!

The differences you can expect between the latest beta-version and the full release of the Marketplace will be largely focused around the UI, however, we’re always looking for feedback and will act on what the community gives us.

If you have any suggestions about what features we should add to the Marketplace, let us know!

Stay tuned for more updates on the development of Phore’s decentralized marketplace!

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