The Signum Marketplace provides a protocol for decentralized, peer-to-peer selling. It is no longer necessary to rely on external market sites that charge commissions for facilitating your business. Any type of merchandise can be bought or sold. The marketplace is particularly suited for digital goods such as software, music, and videos.
Buyers shop for a seller’s products, place an order, and are provided instructions for receiving or downloading their purchased products — no intermediaries, no fees, and no delays. All transactions between the buyer and the seller are transacted directly on the blockchain using Signum.
With the server running, access the local Signum at http://localhost:8125/. On the sidebar, find menus for the marketplace and my store. Following are descriptions of each sub-menu:
- Search marketplace: Enter a seller’s address to view their products.
- Purchased products: See all of your previous purchases.
- My products for sale: See your items for sale and make updates to your offers.
- My pending orders: See pending orders from users who want to buy a product.
- My completed orders: See all finished orders and feedback from your customers.
- List product for sale: Add a new digital product to the marketplace.
How to buy products on the marketplace
- Open your Signum wallet and select marketplace.
- Select marketplace from the menu and then select search marketplace.
- Enter a seller’s Signum address to see a list of items that they have for sale.
- Click the name of a product to open a purchase dialog. Enter quantity and delivery deadline (in hours). The delivery deadline defines the amount of time you are willing to wait for the seller to deliver before canceling the order. Verify your data, enter your passphrase, and click purchase.
- Orders that have been placed successfully appear in the purchased products menu with an initial order status of tentative. After network confirmation (block generation), the order status changes to pending. Finally, when the product has been delivered, the status changes to complete.
- Click the name to open the marketplace delivery dialog. Next, enter your passphrase to decrypt the seller’s message. Here you will find information on how you can receive your digital product.
- You now have the option of leaving feedback for the seller.
How to sell products on the marketplace
- Open your Signum wallet and select my store.
- Click list product for Sale in the top right-hand corner.
- Describe your product.
Name: The name of the product.
Description: Details about the product. You can add a link to our promotional website where you can present the product in full detail.
Tags: (optional) – Enter up to three tags separated by commas.
Price: The product price per unit in Signum.
Quantity: The number of the items that you have in stock (decreases automatically each time a sale is made).
Passphrase: Your wallet’s passphrase.
- Confirm the offer by clicking on put For sale. It will then be listed in italics under my products for sale.
- After your offer has been confirmed in a block, usually after a few minutes, it will be listed in normal font as a link.
- When someone places an order to buy goods from you, it will show up in my pending orders. To complete the sale, press the deliver goods button.
- In the pop-up window, enter your passphrase to decrypt the buyer’s message. You can also check remember passphrase for decryption for future sales.
- Enter details on how the buyer can download or receive their merchandise in data. You can optionally give your buyer a discount.
- Enter your passphrase and select deliver purchase to finalize.
- The completed order appears in my completed orders. For details, click on the product’s name. If the buyer has provided any feedback, you will find it here. This section is also where you would issue a refund if applicable.