The Artemis project as part of its innovative development progression has decided to launch an eBay/Amazon-like platform specifically catered to Crypto Users.
The new marketplace is introduced as part of Phase 4 of the Artemis project’s development.
We will discuss more about the Artemis Project and its new marketplace in the sections below.
What Is The Artemis Project?
The Artemis Project was launched with the intent of building an eBay/Amazon-like platform that can be utilized by crypto holders to buy,sell, or trade goods and services.
The platform lets a user sell any of their products or services to another user and accept their payment in cryptocurrency.
The website also lets the user pay for legal advice, and medical consultations on top of opportunities to take up other freelance services.
The Artemis Coin (ARTMS) will become the primary currency on this crypto-based e-commerce platform along with other leading cryptocurrencies such as Bitcoin and Ethereum functioning as few of its other accepted alternate currencies.
Let us look at a few of the functionalities of the Artemis coin (ARTMS) in its native ecosystem throughout the next section
What Are The Functionalities Of The Artemis Coin?
These are a few of the expected use cases for the Artemis coin (ARTMS) in the Artemis platform:
- Staking ability
- Ability to express your views on the decisions made on the website
- Method of payment in the platform
These are the minimal functionalities that are expected of the Artemis token in its Platform.
Let us now look at how the Artemis Protocol works in the next section.
How Does The Artemis Protocol Work?
The Artemis Protocol which is set to become the backbone of the Artemis project platform works by attempting to break down the barriers that divide traditional finance from modern cryptocurrency-based transactions.
The Artemis protocol which is built on the Harmony Blockchain focuses on the principle of composability through which it hopes to make different components communicate and work together.
The multi-product Decentralized Finance protocol subsequently helps to address what is called the “Liquidity dilemma”, which involves creating on-chain liquidity in the networks without compromising on its decentralization aspects.
The project hopes to free up its protocol to create a wide range of network effects through product integration and partnerships with various other protocols in the Harmony Blockchain.
Let us now look at a few of the qualities of the Artemis Project that make it different from the other cryptocurrencies.
What’s So Special About The Artemis Project?
The Artemis Project stands out from the other marketplaces for the following reasons:
- Service Offerings: The Artemis marketplace lets one offer their professional expertise or services to others who are interested in them. This provides the users with a single venue to set up their various service offerings.
- Promotes Peer-to-peer Transactions: The platform lets you connect directly with a user to sell an item that you would like to put up for sale. The transaction that takes place between the two parties happens using cryptocurrencies and is an expansion of the use cases of cryptocurrencies.
- Variety of Offerings: The website offers a wide range of products and services that can be bought, sold, or traded. Products ranging from Electronic items to handicrafts to even various services are expected to be included in the marketplace.
- Reducing Costs and Lowering Fees: The Artemis platform will significantly reduce the cost associated with transacting using cryptocurrencies by establishing a system that determines the fixed rate of acceptable charges that can be levied through the platform.
- Enhances Trust and Transparency: The platform will instill trust and enhance transparency between the buyer and seller due to the regulated nature of the website thus guaranteeing a legitimate path to carry out transactions.
- Multiple Currency Acceptability: The Artemis project platform is expected to be introduced with compatibility for multiple cryptocurrencies and other digital assets.
- Ensuring Smooth and Secure Transactions: The Artemis platform provides the best standards to make sure that the transactions are carried out in a smooth and secure manner without any chances for interference leading to loss of your time or digital assets.
These are a few of the things that set the Artemis project apart from other projects of similar nature.
Let us now look at what we can conclude from the details that we have gone through in the sections above.
Bottom Line
The 4th phase of the Artemis project is set to launch one of the biggest marketplaces in the crypto market. The project is set to become the equivalent of eBay/Amazon for the crypto marketspace. Many crypto enthusiasts look forward to the launch and expect it to widen the use of various cryptocurrencies and further help in increasing its usage as a means of payment.
Anyone who is interested in following up with the project is therefore advised to carefully consider every aspect of the project and its coin before subscribing to their vision.
