Blockchain : Spl.yt automates the inventory listing process, fraud and spam detection, and payments to affiliate marketers by using smart contract protocols
Online markets are constantly improving as platforms become easier to use and more convenient for both buyers and sellers. As we move towards a more digital centric day-to-day, the parties that facilitate e-commerce become gatekeepers to competition and center points prone to security concerns. Spl.yt, a Science Blockchain backed start-up out of Santa Monica CA, leverages Blockchain and smart-contracts to solve these problems, enabling all users to profit from a decentralized e-commerce experience and set the stage for the continued evolution of online marketplaces.
Spl.yt automates the inventory listing process, fraud and spam detection, and payments to affiliate marketers by using smart contract protocols. Spl.yt “splits up” these tasks, normally done by 3rd parties, to incentivized users by combining Blockchain and Smart-contracts. The result, e-commerce buyers and sellers can transact online for cheaper with less hassle than ever before.For those not heavily versed in Blockchain or Smart Contract tech, the breakthrough this technology provides is trust (or more so, no longer needing trust) — allowing for decentralizing the services intermediaries provide to the participating community. Smart contracts are essentially digitalized legacy contracts which execute commands autonomously, built upon Blockchain. We will share a more in depth write up of what a proof of stake system is, and how its pivot of Blockchain’s traditional proof-of-work system will work for the e-commerce space.
What is the Blockchain?
A block chain is a transaction database shared by all nodes participating in a system based on the Bitcoin protocol. A full copy of a currency’s block chain contains every transaction ever executed in the currency. With this information, one can find out how much value belonged to each address at any point in history.
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