Contents<\/p>
- 1<\/span> What is Origin Protocol?<\/a><\/li>
- 2<\/span> Problems of Existing Marketplace<\/a>
- 2.1<\/span> Inequitable Value Capture<\/a><\/li>
- 2.2<\/span> Data Siloing by Private Companies<\/a><\/li>
- 2.3<\/span> Prospective Lack of Change<\/a><\/li>
- 2.4<\/span> Random Policy Changes and Control<\/a><\/li><\/ul><\/li>
- 3<\/span> Origin Protocol Founders and Investors<\/a>
- 3.1<\/span> Investors<\/a><\/li><\/ul><\/li>
- 4<\/span> How it Works<\/a>
- 4.1<\/span> Dealing with Scaling<\/a><\/li>
- 4.2<\/span> Value Proposition<\/a><\/li><\/ul><\/li>
- 5<\/span> What Makes Origin Protocol Unique?<\/a>
- 5.1<\/span> Lower transaction fees<\/a><\/li>
- 5.2<\/span> Improved incentivization system<\/a><\/li>
- 5.3<\/span> Better Accessibility<\/a><\/li><\/ul><\/li>
- 6<\/span> Is Origin Protocol Secure?<\/a><\/li>
- 7<\/span> What is OGN Token?<\/a><\/li>
- 8<\/span> Origin Protocol Review Conclusion<\/a><\/li><\/ul><\/div>\n
What is Origin Protocol?<\/span><\/h2>\n
Origin Protocol is an ERC20 protocol that is built and hosted on Ethereum’s blockchain. The Origin Protocol is an ecosystem that allows the establishment of numerous distributed marketplaces on the blockchain. It allows buyers and sellers to transact through p2p networks.<\/p>\n
The protocol’s mission is to eradicate middlemen by utilizing Ethereum’s Blockchain and an Interplanetary File System.<\/p>\n
In Origin protocol, users, developers, and businesses can join and create their marketplaces on the Ethereum mainnet. The protocol enables users to check the listing of a pool of goods or services. Then, make orders, rate, and review the listings.<\/p>\n
The protocol utilizes its token to enable rewards that can either be positive or negative payments. These rewards provide security to the platform also serve as the governance token.<\/p>\n
Buy Origin Protocol with Our Top Broker<\/span><\/a><\/div>\nProblems of Existing Marketplace<\/span><\/h2>\n
The already existing sharing economy marketplaces like Airbnb, Fiverr, Uber, and TaskRabbit have numerous deficiencies. Some of them include:<\/p>\n
- \n
- Inequitable value capture.<\/li>\n
- Data Siloing by private companies.<\/li>\n
- Possibility of lack of remodeling.<\/li>\n
- Random policy alterations.<\/li>\n<\/ol>\n
We have explained in detail below why these problems are a big challenge. So, let\u2019s<\/p>\n
Inequitable Value Capture<\/span><\/h3>\n
The quantity of value collected by trusted third parties is often not correspondent with the amount of value they provide. Additionally, the collected value focuses on the platform operators rather than users.<\/p>\n
For instance, a company like Airbnb has over $100B in market value<\/a>. Airbnb established an effective platform that provides easy digitalized booking and reviewing.<\/p>\n
Presently, the platform has been established as its marketplace increases organically as both users and hosts actively utilize the platform. However, Airbnb charges the hosts 3-5% and guests 5-15% upon each transaction.<\/p>\n
This implies that Airbnb can capture as much as 20% upon each transaction. Notwithstanding if the host company does extra work. Airbnb also places automatic taxes on hosts. For instance, the taxes for Hotels in Atlanta, Seattle, or Chicago, for example, are 16%. Although, Airbnb is not the only platform that charges these outrageous fees.<\/p>\n
Other travel agencies like Expedia and Booking.com charge affiliate hotels15-30% on transactions. And car-sharing businesses like Uber charge up to 255 of each transactional value.<\/p>\n
These commission fees can even escalate to 39% in some locations like\u00a0 SanFransisco. The unfair value is being awarded to the platform operators and not the users.<\/p>\n
Data Siloing by Private Companies<\/span><\/h3>\n
Each marketplace provider governs a valuable yet inaccessible database of users and their transactional data. In most cases, these companies monetize the data without the consent of the user(s). The consideration is in making user data controlled by the users, not marketplace operators.<\/p>\n
Prospective Lack of Change<\/span><\/h3>\n
Several features make some companies hold monopolistic positions in their specific marketplace. Companies like Craiglist, the first products and mainstream services marketplace.<\/p>\n
Craiglist has stayed at the top for more than 20 years, regardless of its poor user interface and experience. The platform lacks a reliable reputation and payment system.<\/p>\n
In Craiglist, both the buyer and seller have to meet physically to do transactions. Numerous Craiglist competitors have failed despite their innovative experiences and effective payment systems. This is because Craiglist has network effects and first-mover dominance over its market.<\/p>\n
Random Policy Changes and Control<\/span><\/h3>\n
Companies that provide marketplaces alter the rules and policies at will and randomly. In specific situations, the effects are in favor of its users; other times, they aren’t. There are instances of the marketplace controllers shutting down and maltreating members who added value to them.<\/p>\n
For example, Uber increased its commission from drivers from 15% regular to 30% over time. And the drivers were incapable of changing them.<\/p>\n
In 2017, Airbnb posted a notice on ejecting guests who rented apartments who intended to attend the Ku Klux Klan rally. A few people commiserated with KKK members who spread violent and racists ideology.<\/p>\n
However, it\u2019s a sensitive action for Airbnb to make a self-governed decision on who should utilize their services. What would happen to members with a controversial opinion? The marketplace founders have learned not to allow mainstream interference with any decision from the marketplace buyers & sellers.<\/p>\n
Finally, a good example of the relevance of cryptocurrencies in our world today is the case of Wikilies. He was able to survive the blockade of the US banking system due to Bitcoin donations that were coming from supporters. Wikilies built tools that allow transactions among individuals in a distributed and trustless manner.<\/p>\n
With all hands on deck, we can eliminate centralization (single point of failure) that limits our freedom and trust.<\/p>\n
Origin Protocol Founders and Investors<\/span><\/h2>\n
Matthew Liu and Josh Fraser launched the origin protocol in 2017. The headquarters of the protocol is located in San Francisco. It has several investors from different parts of the world. The two CEOs worked together in 2016 to establish a company known as price slash.<\/p>\n
Matthew Liu is a product manager and a software engineer. He has gained several years of experience in the blockchain sector. Liu also worked with YouTube as the product manager before co-founding the origin protocol with Josh Fraser.<\/p>\n
Josh Fraser was the founder of three other companies before co-founding the origin protocol. He is an entrepreneur with a decade of active participation in the cryptocurrency world.<\/p>\n
In addition, Josh was once a CTO for one social networking platform. The origin protocol team members are made up of about 17 professionals from over seven countries.<\/p>\n
The team is made up of individuals with a common interest in blockchain technology.\u00a0 Yu Pan is the Protocol\u2019s founding engineer. He was formerly a Google staff and the first YouTube employee.\u00a0 Yu Pan was among the six founders of PayPal and also a co-founder of Kiwi Crate.<\/p>\n
Frank Chastagnol is another prominent member of the Origin project team. He is the V.P of Engineering. in the project. He has worked with various high-profile companies as the Engineering Lead. The companies include Dropbox, YouTube, Dropbox, Google, and Inktomi.<\/p>\n
Other origin protocol team members are Micah Alcorn<\/a>– the product Director; Kay Yoo- the Finance and Operations Officer. In addition, Coleman Maher is the Business Development Manager, and Mila Choi serves as the Korea Regional Manager. There are also community team members and protocol advisors.<\/p>\n
Investors<\/span><\/h3>\n
The Origin project has attracted over eight hundred investors globally. These investors include but are not limited to Hashed from Korea, Spartan and QCP Capital from Singapore, Pantera Capital, and Blockchain.com.<\/p>\n
There are angels or special individual investors who also made a special impact in developing the Origin protocol. They are Alexis Ohanian, who founded Reddit, and Steve Chen, the founder of YouTube.<\/p>\n
Their individual and collective interest has never gone down in ensuring that the project excels.<\/p>\n
How it Works<\/span><\/h2>\n
The origin protocol launched an application that one can download for easy accessibility and use of the platform.<\/p>\n
The app-enable users to buy & sell cryptos without intermediaries. The platform presently has three modes of payment, including OGN, DAI<\/a>, and Ethereum. The three main components of the network are the Developer Infrastructure, End-User DApp, and Open-Source protocols.<\/p>\n
How the protocol works is outlined below;<\/p>\n
- \n
- The buyers and sellers carry out their transactions using the \u2018flagship\u2019 marketplace app on the platform.<\/li>\n
- The developer infrastructure is designed to simply greatly- the third party development process. The protocol also launched a special tool known as the \u2018Marketplace Creator\u2019<\/a> This tool allows potential operators to create a marketplace with or without any skill in programming.<\/li>\n
- The protocol is open-sourced with transactions and user data stored in the Ethereum blockchain. With this, third parties can query the protocol for the following; the reputation of the sellers and buyers, the history of old transactions, and the recent listings available.<\/li>\n<\/ol>\n
These three components make launching a \u2018marketplace\u2019 or selling and buying activities on the network very possible and easy.<\/p>\n
Dealing with Scaling<\/span><\/h3>\n
The Origin network uses an IPFS (Interplanetary File System), and it is built on the Ethereum blockchain. All the network data like availability and pricing are directly stored on this blockchain. But Metadata like reputations, descriptions, images, and reviews are kept on the ‘IPFS.’<\/p>\n
Storing data on the IPFS is generally less expensive compared to storing it in the blockchain. The configuration is used for scaling, and it reduces cost.<\/p>\n
Value Proposition<\/span><\/h3>\n
Origin has a relatively straightforward valued proposition. The network saves lots of money for users who buy and sell on the platform. To achieve this, middlemen like Fiverr and TaskRabbit are eliminated. The buyers and sellers now carry out transactions among themselves with zero transaction fees.<\/p>\n
The platform provides increased accessibility across the users so that anyone with a smartphone can access the marketplace.<\/p>\n
The protocol also recognizes behaviors that add to the growth of the platform. The network gives monetary rewards to users who promote listings, refer new members, drive transactions, and builds safe infrastructure or applications.<\/p>\n
More so, the platform is censorship trustless and resilient. It has no particular point of failure. Hence, buyers and sellers can interact using any pseudonyms. The Origin app is present and can be downloaded on Google play store and iOS. For now, it is only one marketplace app that exists.<\/p>\n
- The protocol is open-sourced with transactions and user data stored in the Ethereum blockchain. With this, third parties can query the protocol for the following; the reputation of the sellers and buyers, the history of old transactions, and the recent listings available.<\/li>\n<\/ol>\n
- 5.2<\/span> Improved incentivization system<\/a><\/li>
- 4.2<\/span> Value Proposition<\/a><\/li><\/ul><\/li>
- 4<\/span> How it Works<\/a>
- 2.2<\/span> Data Siloing by Private Companies<\/a><\/li>
- 2<\/span> Problems of Existing Marketplace<\/a>
![\"Origin](\"https:\/\/deficoins.io\/wp-content\/uploads\/2021\/07\/LoS11avX-1024x780.png)