The Openbazaar protocol has been well received by cryptocurrency enthusiasts. This platform allows anyone in the world to sell or buy goods in exchange for the cryptocurrency. The first iteration of the protocol has some minor drawbacks, though. For instance, it has no internal wallet, which can cause purchase delays. That will come to change when OpenBazaar 2.0 launches. Exciting changes are coming to this project, that much is evident.
Although OpenBazaar is a great system, it is not overly user-friendly. More specifically, there is no “web address” to conveniently access OpenBazaar listings. Users need to download the software and install it before they can explore available listings or set up their own store. Another drawback is how there is no internal wallet service. Although this is a positive aspect as well, many people feel it holds the project back.
Big Changes are Coming to OpenBazaar
Thankfully, such an internal wallet will be part of OpenBazaar 2.0. An internal wallet will speed up the purchasing process quite a bit. This will be of great value to a lot of OpenBazaar users, to say the least. It is a big step toward making the protocol more accessible to everyone on the planet. Right now, transactions need to be sent from external wallets, which can cause a delay. Funding an internal wallet and using that funds make a lot more sense. Never store too much fund in a third-party wallet, though.
It is good to see the developers address one issue at a time. An integrated Bitcoin wallet has been part of the roadmap for some time now. OpenBazaar 2.0 will introduce a lot of other changes too. However, this internal wallet service seems to be of great importance to a lot of users. From a convenience point of view, it makes a lot of sense. It will be interesting to see how this change affects OpenBazaar’s popularity overall. Plenty of people have used this marketplace protocol so far, but there is always room for improvements.
More importantly, this internal wallet service introduces another big change. It means transactions can effectively be settled in an off-chain fashion. Not having to wait for network confirmations to complete a purchase is quite significant. It is unclear if the off-chain settlement will be a part of OpenBazaar 2.0, though. However, the possibility is there, which can only be a good thing. The project will introduce a lot of positive changes to look forward to.