Particl Marketplace FAQ

What are the fees?

The Particl marketplace does not take any percentage of the sale profits, but a very small listing fee must be paid in order to avoid spam. Each user has the ability to select the time they want their listing to be listed on the marketplace and the fee is dynamically adjusted according to that value. The decentralized MAD escrow mechanism also does not require any fee except for the usual currency transaction fee.

Where do the fees go?

100% of the fees are redistributed to stakers, not the Particl team or Foundation. Those fees are added on top of staking rewards, just like transaction fees, which means that as the marketplace gets more transaction activity, staking becomes more profitable.

How long do listings stay up?

Users can choose what amount of time they want their listing to stay up. The longer you want your listing to be up, the greater the fee it will be. Fees are still very low and act as a spamming deterrent.

Do I need to keep my Particl Desktop opened for my listing to appear online?

No, once your listing fee is paid the listing it is put online for the duration of time you have paid for. You can shutdown your Particl Desktop at any moment and your listing will stay online.

Can prices be set in fiat instead of in PART?

Yes, prices can be set at a specific fiat value and the price in PART will dynamically be adjusted.

Can I use any other coin other than PART?

Yes! A decentralized privacy platform focused on free markets cannot be limited by its own built-in token system, especially now that there are so many coins out there. Our goal is to lower barriers of entry and reduce friction in online shopping, allowing for easier adoption by buyers and vendors anywhere in the world.

In the spirit of connecting many different crypto communities together, the Particl platform is designed in such a way that it can accept almost any currency using two different methods (atomic swaps and third-party integration such as Changelly for example). However, as the platform (marketplace, extended messaging, future Dapps, etc) requires PART to function in a private way (CT and RingCT), all incoming currency transactions are automatically converted into PART.

Is fiat accepted?

Not at launch, but we are working with partners to eventually make that a reality.

How much privacy does the marketplace offer?

The Particl marketplace is private by default for all transactions. When fully released on mainnet, the marketplace will use RingCT (currently undergoing an academic code review) to hide both transacting amounts and participants. Metadata leaks are impossible by design, IP addresses can easily be hidden using Tor and every bits of communication between users are encrypted. The Particl marketplace is all about security, privacy and decentralization. Users cannot be traced to a particular message, transaction or marketplace data (pictures, videos, etc).

Is the marketplace moderated? What will stop illegal listings from appearing on the marketplace

The public interface of the marketplace is moderated by its community of stakers. No member of the Particl team or marketplace staff can censor any content. Users can flag content as innapropriate and once a listing reaches a certain threshold, it is taken out of the marketplace entirely.

Are there private listings?

Yes, users can create private listings that can only be accessed with a specific listing key/link. These listings do not appear at all on the public interface of the marketplace, cannot be search by keywords and cannot be moderated out.

What is the escrow system?

Particl uses a fully decentralized escrow smart-contract based on the Mutually Assured Destruction game-theory. It uses the BIP 65 opcode to lock funds in a secure multi-signature address until all of the parties sign off on the transaction.

The seller starts by depositing an amount they want the buyer to match to symbolize a virtual handshake. This could be between 0 and 100 percent of the item’s purchase price, but optimal MAD odds are achieved when the insurance deposit equals 100 percent of the item’s purchase price. The buyer then deposits an amount equal to the handshake amount plus the price of the item they are buying. The escrowed funds are not released to any party until both confirm that the transaction has been completed satisfactorily. To avoid filibustering, the MAD smart-contract has a timer that runs for a pre-determined duration of time (which can be extended if both parties agree) after which funds are destroyed/burned (forever locking them for both parties with no option to unlock). This prevents both parties from willingly delaying and hindering the escrow process.

When both parties are satisfied with the outcome of the transaction, they are required to confirm the transaction as completed. When this is done, the item’s escrowed funds are released to the vendor and the insurance deposit is refunded to both parties at no fee.

What is the escrow system fee?

Using Particl's MAD escrow system is free of charge. The only fee required to pay is the usual currency transaction fee.

How is marketplace data hosted? How does the marketplace deals with scalability issues?

Particl hosts its marketplace data off-chain on Data Storage Networks (DSN). The default and most private DSN used by Particl is its native SMSG protocol, but in the future it will be possible to connect to a vast array of DSNs such as IPFS or almost any decentralized storage project worth integrating. This extensibility feature is at the core of the Particl platform and will make sure it can stay on top of the technological curve by easily integrating any bleeding-edge technology that will appear in the future.

How are messages delivered between users?

Particl uses SecureMessaging (SMSG), its very own native DSN, which is a decentralized P2P message mixnet where all nodes store a copy of everyone's end-to-end encrypted messages and data for a duration of 48 hours (which can be increased for a fee). It is the default and most private DSN available for use on the platform. The reference implementation is developed in C++ and incorporated into the Particl daemon, allowing it to operate over the same peer to peer network as the Particl blockchain.

All nodes continuously attempt to decrypt every incoming message, but can only succeed if the node is able to recalculate the HMAC hash accompanying said message. If the hash check fails, then it can not be decrypted by the node, which means the message was either fraudulent, tampered with or meant for another node. SMSG messages and data are stripped from almost any metadata, therefore it is impossible for anyone to extract information such as IP addresses, sender or receiver. The only metadata accompanying data on SMSG are the hash, the encryption payload and a temporary public key.

Will the marketplace be available on mobile?

Yes, we plan on making a separate mobile app for our platform which will include most of the Particl Desktop features such as the marketplace, messaging, currency transactions, voting, other Dapps, etc. This will, however, not be available for the release of our MVP (post-beta) but will come after.

Will the platform be accessible from the web?

Yes, this is also something we will be working on following the release of our MVP (post-beta) marketplace. There are, however, already community members working on a web gateway for our decentralized marketplace which would make it usable from the web directly without having to download Particl Desktop. This will allow users to have a broader set of features such as checking out with a credit card, but also reduces privacy and introduces KYC/AML. This gateway will be run by a third-party company (Mubiz).