Qilin.Market — protocol for decentralized e-commerce enabling convenient exchange of goods for cryptocurrencies utilizing smart contracts on blockchain for clear and bulletproof deal escrow.
It introduces unique approach on shops with cryptocurrencies online. Each shop in task ecosystem is actually an independent blockchain node that earns Qilin Tokens for their owner. One can start a new store by simply making a clone of general public repo on the host.
Utilizing distributed ledger technologies with smart contracts for exchanging merchandise with digital currencies, “Qilin.Market” brings a protected and transparent escrow for several parties assuring money–back guarantee for buyer and safe funds transfer for vendor. Buyer transfers funds to smart contract that releases payment to seller best whenever item is effectively delivered and verified through independent oracle on blockchain.
This model creates a constant circulation of Qilin Tokens to make certain settlements between all market participants: Sellers need Qt. to confirm new orders and reward Merchants, Delivery solutions need Qt. to deposit an escrow, Merchants receive Qt. as a reward from Sellers, Buyers receive discounts.
Transactions happen straight between the buyer and seller, and there are not any middlemen to place extra holds on funds. Due to its P2P (peer-to-peer) nature, goods can be traded directly, effortlessly and what try most important, easily. That disrupts traditional e-commerce model making a direct connections from end-to-end inside global provide chain.
Qilin Tokens shut preorder starts on December 1, 2017. Tokens is distributed in batches with price increasing on hyperbolic logarithmic progression for each next batch. That means every brand new given token will surely cost some bit more. Limited amount of Tokens is minted without any new emissions ever to be made. That makes yes Qilin Token will never price less.