Exchange Bitfinex announces new p2p platform for data exchange called Dazaar
The popular exchange Bitfinex has announced that it will launch an open source marketplace, a P2P platform for data transmission. The new platform, called Dazaar, will be launched on June 25, 2020. According to the ad Officially, Dazaar was created out of a desire to democratize access to information. The name is derived from “Data-Bazaar” with the inspiration of the book “The Cathedral and the Bazaar”.
Dazaar is built as an extension to the Hypercore Protocol, a secure, stub-only distributed registry that makes it easy to develop fast and scalable P2P applications. Unlike other open source data shares, Bitfinex claims that it focuses “in providing a privacy-oriented, decentralized, hyperscalable protocol foundation that can be implemented in any existing project, preparing it for the peer-to-peer Internet".
- Multifunctional hardware wallet for easy cryptographic security, storage and use
- Touch screen for secure access to digital assets
- Offline security protects against hackers and malware
- Open source technology for financial privacy and stability
- Advanced security features include PIN and passphrase
Dazaar for the sale of data in a decentralized way
Dazaar users will be able to monetize their data without third parties, since the interactions will be only between buyers and sellers. Dazaar said it uses time-based micropayments through “any cryptocurrency” to eliminate intermediaries, as well as to encourage the use of cryptocurrencies for the payment. Credit card payments can be added in the future.
Data sellers are expected to install Dazaar and choose their preferred payment method. Once this is done, the protocol will generate a cryptographic identifier called a “Dazaar Card”, which can be shared by sellers in groups and other places for buyers to find.
Buyers, on the other hand, will be able to connect with sellers through the information on the Dazaar Card and then pay the fee. Once the seller verifies the payment, the buyer will receive the data in sequence.
In addition, the open source protocol Dazaar, developed by cryptocurrency exchange bitfinex, also supports a live video streaming desktop application called “Dazaar Vision”. Users will be able to set up live broadcasts or subscribe to broadcast in real time without the need to register. Dazaar Vision also works without intermediaries, since users can make or accept payments through Bitcoin. Support for many more cryptocurrencies will be added soon, according to the report.
