What is BitBay (BAY)?

DECENTRALIZED MARKETPLACE

BitBay features an in-wallet marketplace, similar to Ali Baba, Amazon or eBay, which utilizes its own cryptocurrency (BAY). Not only are users capable of buying and selling goods, they are also able to barter anything, make unbreakable agreements, employee people, and buy/sell coins for cash peer to peer. All of this done without middlemen, or fees, right within an incredibly secure open-source software. Thanks to smart contract technology, BitBay users are able to buy/sell goods, skills, talents or any other valued commodity (including land and real estate). Users may not even need use the cryptocurrency for the transaction – they may simply barter on top of the contract. Thanks to Double-Deposit Escrow, all of this and more is made possible.

The BitBay platform is set to disrupt and decentralize the way merchant services and online auctions are done through the internet, from performing trusted wires to selling emoji pillows. BitBay will provide much of the world with a firsthand glimpse of how beneficial use of the blockchain can be simple and profitable. Never again will there be a lost contract, receipt, invoice, will, notary or other binding agreement. It’s all there – searchable, and completely transparent.

The BitBay project brings together Smart Contracts, Multi-Sig technology, and Reputation Vetting – all weaved into an unbreakable marketplace located off the BitBay Blockchain. For this reason the system is capable of scaling to large volumes thanks to BitBay’s system of reducing bloat and peer-to-peer smart contracts. The existence of such a marketplace has no boundaries – something we proudly present as a revolution in free trade.

SMART CONTRACTS

The general concept behind Smart Contract technology was first conceived by Mr. Nick Szabo in the mid 1990’s. Since that time, there have been many software engineers, theorists, and cryptographers working diligently to crack the code and find a way to make this technology readily available and accessible for the average user. Fast forward 20 years, and individuals such as David Zimbeck, Peter Todd, Vitalik Buterin, Up Hongfei and many others have begun to fulfill the true potential of smart contracting software.

These contracts are unbreakable, enforceable, and completely secure while simultaneously giving equal rights to both parties involved in them. This is the only non-violent two party solution to enforcing agreements in existence. The way it works is quite simple and was first debuted in David Zimbeck’s BitHalo contracting software. Both parties make a good faith deposit before entering into the contract. This way, they must work together and it is absolutely impossible to lie or steal profitably in these contracts. Never again will you receive an empty box from eBay. Never again will you deal with an unfair judgement of an arbiter. People who you hire from other countries can no longer be late, miss deadlines, or come into the job unqualified. Finally, your employers must pay you for your completed work, as failure to do so would cost more of the other party than simply compensating the employee.

The best part about this software is it is available right now. The future of smart contracting software, available in the present at http://www.Bitbay.market/downloads

Invitation to the BitBay Slack - http://bitbay.market/wp-login.php?action=slack-invitation

Invitation to the BitBay Discord - https://discord.gg/sP8b66W

Invitation to the BitBay Telegram - https://t.me/bitbayofficial

Twitter: @bitbayofficial