The Phore Marketplace Development team has been busy making several improvements to the back end of the platform. These improvements include several security upgrades, improvements to customer service processes, and building support for new currencies.
We consider the security of user funds to be critical to the inTegrity and success of the Marketplace platform. While security is ultimately the responsibility of each user, we want to provide users with robust tools for protecting the security of funds stored in the Phore Marketplace wallet. To improve wallet security, we have added password protection features to the Phore Marketplace wallet.
With this new feature, users can choose to encrypt their seed words, which then cannot be read or used without the user entering their password. Additionally, their wallet will automatically lock after a specified number of minutes, which can be configured by the user for whatever period fo time they wish. When the wallet locks, no output transactions are possible, but the wallet can still receive incoming transactions. Finally, when users are setting up their accounts, we have created a feature that prompts users to back up their seed words and has them verify that they have recorded their seed words to help ensure they have a written backup in case it is ever needed in the future, such as if they had a hardware failure or if they forget their password.
<strong class="bf">Customer Service Improvements</strong>
There were certain cases where transaction flows would encounter a bug that made it difficult for sellers to issue refunds to buyers and have the transaction status updated properly. We have now improved our back-end system to streamline the process of refunding orders.
<strong class="bf">Support for New Currencies</strong>
The latest crypto bull cycle has been fueled by Ethereum-based DeFi applications. As such, many people are looking to spend their cryptocurrencies to purchase some real-world goods! We have been making changes to the back-end infrastructure and correcting necessary bugs as the first steps to enabling ETH support. In the future, we plan to add support for other Ethereum based assets.
<strong class="bf">General Improvements</strong>
With every Marketplace update, we also seek to make general improvements to the UI and back-end in order to improve the user experience. These improvements include:
- Better management of IFPS peers
- Improvements from multiwallet library
- Added separate settings category to handle wallet settings
Stay tuned for more updates on the development of Phore’s decentralized marketplace!
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