Initially, Bitboost team met NXT; a venture with similar interests in the community of the blockchain market.
Together they created an app known as NXT FreeMarket.
However, due to the limitations of this blockchain; Bitboost decided to move to the Ethereum blockchain in summer 2016. After that, they found the first Bitboost project known as Block.
Why are are doing ICO?The Bitboost software company was developed with a clear purpose of developing a decentralized marketplace.
The BlockBlock is a trading app, which is encrypted and it is available for buying and selling online. It is a global online marketplace for traders and customers. While working on this project, the developers realized that there were some non-technical issues as well for a decentralized marketplace like block. They took several measures to ensure user adoption, localizing the app in different languages and adapting it according to the varying legal jurisdictions. The app is mobile friendly that allows the people from developing and mature markets to use the app on their smartphones with ease.
Features of The Block:Block marketplace: the Ethereum based marketplace, a project of Bitboost allows anyone to list items or shop online with high level of privacy and zero censorship.
Encryption — The main concern of users of this digital currency is its ability to get alilhacked' or stolen. The app is fully encrypted to ensure user privacy and safety against information loses or leak.
Low cost — The unique architecture of Block allows users to list items for fee as low as $1 (for buying the Bitboost tokens).
Decentralized system — Blockchain is not controlled by a central authority that allows the users to buy and sell without the intervention of third party.
Stability and speed — Bitboost has cached the servers worldwide with Ethereum blockchain to ensure speed and reliability.
Protected Funds — Quite interestingly, Bitboost provides escrow services to eliminate third party risks which are caused due to the anonymous global trading. One-time private keys are generated for the buy session and Advanced encryption standard (AES) is used for data encryption. One-time keys allow the users to share their communication with a third party without revealing their keys.
Easy to useIn order to use this platform, users can download it on their computer, mac or smartphone and the wallet is available separately within the application to download. The currency is saved as Ethereum. To re-fill your wallet, you must directly deposit the ethereum currency in it or buy the currency through Bitcoin from within the system. There is no reputation system yet but the Bitboost team is working on it.
Trends in cryptocurrencyOne fact about cryptocurrency is that it is fairly volatile. It is characterized by a sharp decline and sharp rise on the charts. Recently, all the major cryptocurrencies have registered a negative performance while BTC has stabilized and trying to cover up the loss. Ethereum has an intention of providing a block chain with a complete fully fledged programming language that create contracts that are used to encode arbitrary state transition functions that allows user to create decentralized application platforms.