While the Syscoin Qt wallet serves as a standard cryptocurrency wallet for sending and receiving coins, and managing masternodes, Blockmarket Desktop delivers a complete interface to the Syscoin markeptlace, as well other tools for working with Aliases, Certificates, and Assets. It is a one-stop solution for interacting with the powerful features available on the Syscoin blockchain. Let's take a closer look at the wallet's attributes:
The core of blockmarket is its built-in wallet, where you can review, send and receive your Syscoin funds, and other Assets if you have them. It provides information about your past transactions, the current blocknumber, your receiving and sending addresses and whether or not you are fully synced to the blockchain.
With Syscoin messaging you can send and receive messages to other users on the network, using either the recipients address or their alias. You can manage your Inbox and Sent messages in the My Messages tab. Messaging is not only useful for users who want to keep in touch, it provides a useful service to Marketplace buyers and sellers who need to communicate with each other before a transaction is completed. Details of shipping cost and method, product dimensions, color, state of the product etc can be provided easily this way.
The encrypted messaging service is not only handy for those on the marketplace, but also on individuals who need to operate in a more confidential environment.
The Blockmarket Desktop wallet was designed with the marketplace as its core feature, and the wallet’s features other integrate seamlessy with it. In the marketplace you can browse items to buy (with optional escrow), list items for sale, review your purchase and sales histories, and manage any escrows you are involved with. The strength of this marketplace over online retail is that it offers pure peer-to-peer transactions; there is no middle man. This means that you can buy and sell with near zero fees, a benefit hitherto unseen in online retail.
When listing a product, a seller has the option to receive either Syscoin, Bitcoin or Zcash as a means of payment for their goods. It is also possible to peg the cost of product to a fiat currency of your choice; for example you could list an item for sale for $10. When the items sells, the Blockmarket wallet calculates the Syscoin value of $10 at the time of sale, and the seller receives this amount of Syscoin from the buyer.
For some transactions, the buyer may wish to employ the services of an escrow agent, to remove any doubts about the trustworthiness of the seller. For this reason, a third party escrow service is implemented within blockmarket, and is offered to the buyer during the purchasing process. When the buyer is completing a purchase transaction they can choose to have the funds held by a third party until they receive the goods. When the buyer has received the goods and are happy with them, they can release the esrcowed funds to the seller. If the buyer does not receive the goods, or the goods are not to their satisfaction, they can call upon the escrow arbiter to investigate. The arbiter contacts both parties and decides in whose favour to complete the transaction, and sends the escrowed funds accordingly. Involving an arbiter in your transaction incurs a small fee which is paid to the arbiter automatically. When the transaction is complete, buyers and sellers have the option to rate the arbiter based on the service they provided.
Due to Blockmarket’s decentralised nature, downtime is a thing of the past. This means no service outages, ever. Decentralised marketplaces also offer the opportunity to buy and sell goods that may not be legal in the user's geographical location.
The Alias system allows the user to use an easy-to-remember word or name in place of the random sequence of letters and numbers that make up a Syscoin address. Consider this your account or username within Blockmarket and the wider Syscoin platform. You can add personal information to your Alias, thus moving the Alias system toward a notion of an only identity platform. You can use Aliases in any transaction where previouly youwould have used a standard address, such as Send, Message, Escrow, Certificate Transfer, among others.
Alias also allow for more trust to develop between buyers and sellers in the Marketplace; a 'known' alias that has successfully conducted business on the marketplace, and perhaps even been verified through real-world channels, would be seen as trustworthy to buyers.
With assets Blockmarket gives a whole new dimension to the world of cryptocurrency launching platforms. Assets enable someone to issue their own currency, loyalty program, asset, gold backed token, game token or any other form of data that needs to be on a ledger. This feature is as easy as it can get. You will have your own cryptocurrency aired in a matter of seconds. You can choose from fungible and non fungible tokens, max supply or unlimited supply and give it a yearly interest rate up to 100%. Assets and tokens are easily airdroppable to syscoin aliasses through the GUI when needed. Read more about assets and their specific usecases here.
This allows someone to create and store a private certificate on the Syscoin blockchain. This has real-world applications in the world's of real estate, medical, legal, retail, and many others.
See below for a 16-part series of Blockmarket tutorial videos: