The Decentralized Exchange That Lets You Trade, Govern And Earn A Share Of Its profits

By Author: John Frank
Total Articles: 6
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Bazaars is an upcoming Proof-of-stake (PoS) blockchain AND decentralized marketplace like you’ve never seen. It allows you to perform all the regular tasks you'd expect for a blockchain/decentralized exchange of its nature — deploying smart contracts, trading, governing, etc. AND — here’s the kicker — pays a share of its profits to its token holders! With Bazaars, everyone’s a shareholder, and everyone gets a dividend!

Though Bazaars is built on the Ethereum virtual machine (EVM), it’s more than just yet another Ethereum-based blockchain. The blockchain itself has several innovative and very useful features but Bazaars also has its own decentralized marketplace similar to eBay that lets you trade both physical and digital assets. This certainly has the potential to become one of the best decentralized exchanges. 

The Marketplace
The Bazaars' peer-to-peer marketplace will facilitate trading through their now-released app and will be powered mainly by the network’s native ERC-20 token — BZR. 

The app is a peer-to-peer marketplace that allows items, vehicles and properties ...
... to be exchanged for various crypto currencies.

All other things being equal, this token will rise in value as more and more people trade on the marketplace, and profits (generated from transaction fees) will be distributed among token holders — further incentivizing current holders to acquire and hold more tokens and new users to follow suit, thereby fueling more and more demand for BZR. The marketplace will also allow the use of other cryptocurrencies for trading by leveraging the Bazaars network's ability to transact across blockchains.

The Blockchain
The blockchain is truly something to behold as well. It has all the standard features — ERC-20 wallet/token compatibility, smart contracts/dapps support, etc. As well as some not-so-standard ones like very fast, highly secure transactions, on-chain governance (i.e token holders call the shots), the ability to transact across blockchains (an innovative feature called Atomic cross-chain swaps), and it even allows users the freedom to interact anonymously on it, so more privacy-conscious users will also feel at home. It will launch with its own blockchain explorer (BZRscan) and be powered by the same BZR used in the marketplace.

The Project
Bazaars is being built by a team of highly adept developers and a community of very active users. This community is open to anyone interested and the dev team looks to it for direction. Everyone is involved in building and growing the network. The development is currently divided into 4 distinct phases — the first 2 of which are now complete while the others are in progress.

The four phases

Phase One — Thomas Edison
This phase involves mainly the launch of the Bazaars app, which will be used primarily to transact on the marketplace, and the development of the BZR token.

Phase Two — Yuri Gagarin
This primarily involves the deployment of the BZR token and providing liquidity on major decentralized exchanges (DEXes) such as Pancakeswap and Uniswap to allow people to purchase BZR. The initial token distribution was also done in this phase as well as the development of the blockchain explorer.

Phase Three — Ibn Al Haytham
Here, the Bazaars PoS blockchain will be launched on the Bazaars test network (i.e in beta) along with a wallet (also in beta). The block explorer will be launched and the app will undergo a major upgrade to V2. BZR tokens will also be listed on more DEXes.

Phase Four — Pennsylvania Mutiny
In the fourth and final development phase, the blockchain will finally go live! With support for Atomic cross-chain swaps, on-chain governance, profit sharing, and anonymously interacting with the blockchain at launch. You can learn more about the four phases on their website, and view their roadmap.

Conclusion
Bazaars is a one-of-a-kind platform — more than just another decentralized crypto exchange, and more than just another blockchain. The synergy between these two individually powerful platform types could create something truly remarkable and I, for one, just can’t wait to see it.