Origin Protocol that focuses on the development of a decentralized marketplace, has launched an Ethereum-based P2P message application. The company stated in its blog that their marketplace project is now in demo-version and powered by a messaging solution that encrypts communication between a buyer and seller.
“Whether a buyer has questions about a product before committing to a purchase, or a host is delivering sensitive instructions to a home sharing guest, messaging is critical component necessary to facilitate meaningful transactions,” the company commented.
The new service uses Ethereum addresses as public ID for messaging, while the text of the message is encrypted by private keys.
Besides, the Origin representative noted that all messages would be stored using Interplanetary File System (IPFS), which can save blockchain links to users’ content. With a decentralized marketplace, the ERC-725 standard is also applied aimed at easing settlement of disputes that can arise. This standard provides users with Ethereum-address, so a third-party arbitrator can check the history of the messages but only upon the permission of one of the parties.
In June, the company generated $6 million via ICO. Notably, other organizations also target a launch of their own blockchain-based messaging services ( in particular, Coinbase exchange and US Defense Ministry).