Origin Protocol, a peer-to-peer (P2P) trade facilitator, operates as a network through its application. The Origin Commerce Platform, the protocol’s platform, aims to create a comprehensive online marketplace using Ethereum (ETH) blockchain and Interplanetary File System (IPFS) without relying on intermediaries.
The platform establishes a decentralized space where buyers and sellers can access, browse through existing listings, conduct research, and perform various transactions, all without the need for intermediaries. This approach simplifies the integration of fragmented entities into the process.
By addressing issues like high transaction costs, lack of transparency, difficulty in adding innovations, and centralization, Origin Protocol offers solutions to propel the existing online market forward. The protocol fosters a decentralized environment that provides incentive options to streamline operations for both buyers and sellers, promoting a more user-friendly marketplace.
Who Founded Origin Protocol?
The Origin Protocol team consists of participants from different countries who contribute to the blockchain world. While Origin Protocol is centrally located in San Francisco, it collaborates with various investors from different parts of the world. However, fundamentally, the protocol was founded by Josh Fraser and Matthew Liu in 2017.
Matthew Liu is an experienced software engineer and one of the earliest product managers at YouTube. He was also a founding member of YouTube‘s monetization team, which eventually created a billion-dollar advertising business. After investing in the Ethereum crowd sale, he became interested in cryptocurrencies and has been investing in blockchain and token projects since then.
Josh Fraser, on the other hand, is an entrepreneur who founded three different companies before creating the Origin Protocol platform. He has been actively involved in the crypto market for over a decade. Additionally, he worked as the CTO at the social networking platform Eventvue.
Goals of Origin Protocol
Origin Protocol aims to enable a large-scale trading network with the following features:
- Direct transfer of financial value (registration, transaction, and service fees) from major companies like Airbnb, Craigslist, Postmates, etc., to individual buyers and sellers.
- Indirect transfer of financial and strategic value (especially collected customer and transaction data silos) from these companies to the entire ecosystem.
- Creating new financial value for market participants that benefit the network’s growth.
- Built on an open, distributed, and shared data layer to promote transparency and collaboration.
- Facilitating currency conversions for buyers and sellers worldwide and enabling them to transact with each other instantly without taxes.
- Encouraging personal freedom by preventing arbitrary delays and cumbersome rules imposed by centralized companies or governments when conducting business.
Origin Developer Infrastructure
Blockchain and distributed technologies can be challenging and unfamiliar for many developers to work with. Origin aims to simplify the development process for third-party developers by releasing user-friendly developer libraries. By doing so, the platform hopes to attract traditional web and mobile technologies that may not be familiar with blockchain programming.
Origin recognizes that the adoption of decentralized technologies requires bridging the gap between developers who are well-versed in blockchain and those who are more accustomed to conventional technologies. By providing easy-to-use developer libraries, Origin intends to encourage a wider community of developers to participate in the ecosystem, leading to a more inclusive and diverse range of applications built on the platform.
The user-friendly nature of these developer libraries will serve as a stepping stone for developers, enabling them to seamlessly integrate blockchain functionalities into their existing projects or develop entirely new decentralized applications. By abstracting complex blockchain-related tasks and providing clear documentation and support, Origin aims to facilitate the creation of innovative and robust applications without the barrier of having extensive knowledge of blockchain development. This approach aligns with Origin’s goal of fostering mass adoption and making decentralized technologies accessible and applicable to a broader audience.
How Origin Protocol Works?
Origin Protocol incentivizes developers and businesses to create decentralized marketplaces on the blockchain. Through the Origin Commerce Platform, users can list their products without being burdened by the usual high gas fees. The platform also functions as a community hub where users can view offers and listings, leave ratings and reviews.
With Origin Protocol, buyers and sellers have the autonomy to manage and regulate their transactions. If mutually agreed upon, parties can transact using pseudonyms.
Identity verification on the Origin Commerce Platform can be achieved through shared public keys, which can later be used on social media accounts. The platform also allows for verifications from trusted third parties.
The fully open-source Origin Commerce Platform consists of three main components:
- Origin-powered user applications
- Origin developer infrastructure
- Origin protocols
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