• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Breaking News: BREAKING: Binance CEO CZ Steps Down As Part Of $4 Billion Settlement
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Binance CEO CZ Steps Down As Part Of $4 Billion Settlement
Daemon

First Secure DAO Web Marketplace Launches Massive Crowdsale

Tyson O'Ham by Tyson O'Ham
8 years ago
in Bitcoin Breaking News Brief, Breaking Bitcoin News, Breaking News, Emerging Markets, News, News teaser
0

3 April 2016 — That’s Right. You Read the tagline correctly: The first fully open source, IPFS and Ethereum-based, international marketplace’s crowdsale will go live this August. It shares a lot of functionality with OpenBazaar, uses Slock.it’s DAO model, and it’s built with security and privacy at the top of its feature list. The contract, Mist Plugin and description are available here. Revolutionary, right? There’s just one, tiny, little, itsy-bitsy hangup you should be aware of: It’s a Darknet market. Daemon is an ethereum dark market bazaar that innovates with an ethereum DAO in the most cutthroat, risky, and heavily scrutinized industry in the world, and is poised to give Bitcoin, and more likely, the feds, a run for their money.

Read Also: Wikileaks IMF Transcripts Validate Use of Bitcoin

Daemon Innovates Everywhere, Not just the Darknet

 

The aims of the Daemon Store’s DAO may be less than kosher, but that can’t be said about their underlying technology or implementation. (Or at least, more than one of it’s Cousins.) They’re offering a publicly auditable contract for the initial crowdsale, OpSec recommendations for their investors, and a philosophy that will no doubt attract a lot of business in the underground industry. Frankly, I’m surprised it took this long for someone to put a DAO like Daemon together. Clandestine trade accounts for between one-third and one-half of the world economy according to economists, and that number is only going to increase with decentralized markets and currencies. If you happen to live in a country that doesn’t frown on drug trafficking, (Portugal maybe? Note: I’m not a lawyer, don’t consider this advice) then Daemon may be a worthwhile investment.

Daemon
Daemon’s feature list, from their hidden website

The problem, (or feature in the case of its users) that makes Daemon so unique on the Darknet is that it is designed to shift ownership and user base over time, and its fully decentralized nature makes it Nightmare Fuel for Drug Investigators. To shut down the Daemon market, law enforcement would have to find every single shareholder and moderator, and detain them within a small window of each other. Further, it is attractive to Darknet Vendors because of Ethereum’s powerful scripting, implemented in the form of escrow and trustless payment verification in Daemon. Without exploitable, centralized, bitcoin-based infrastructure, the caveats and pitfalls that make Darknet commerce problematic take a back seat and allow for massive growth potential.

Like it or not, the Darknet has long been a testbed for emerging technologies in cryptocurrency. They were the first to use Bitcoin on a massive scale, the first to implement multisig wallets for common use, and the first to look at Bitcoin privacy measures in the face of increased blockchain analysis. Daemon is no different. It represents a proof of concept for decentralized smart-contract marketplaces, and its successes and failures will govern what features find their way into surface-level software. Whether or not you approve of Daemon’s Purpose or operation, expect to see similar technology in Dapps and DAOs as the marketplace matures.

 

Thoughts on Daemon Market and Darknet DAOs? Let us Know in the Comments!


Images Courtesy of Daemon, Slock.it

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Tyson O'Ham

Tyson O'Ham

Related Posts

Charlie Munger

Bitcoin’s Fierce Opponent Charlie Munger Breathes His Last At 99

5 hours ago
The Demise Of Inferno Drainer: Accomplice In $70 Million Fraud Uncovered

The Demise Of Inferno Drainer: Accomplice In $70 Million Fraud Uncovered

2 days ago
Ripple

Ripple Sets Sights On Dominating $300 Trillion Payment Sector

4 days ago
Sam Altman

Bizarre Twist: Sam Altman Makes A Surprise Return To OpenAI As CEO

1 week ago
Binance

Binance CEO Pleads Guilty To Criminal Charges, Faces 10 Years In Jail – Details

1 week ago
Sam Altman

Microsoft Hires Sam Altman To Lead AI Team In Bold Move – Good News For Worldcoin?

1 week ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
Inmerion
Inmerion

Press Releases

  • Fastest Growing Meme of 2023: Rebel Satoshi Shatters...

    18 mins ago
  • Chimpzee Presale In Last Stage, Bonus Also On Offer In The...

    1 hour ago
  • This Week’s Crypto Highlights: Blur’s 80%...

    2 hours ago
  • Price Prediction – In the Mother of All Bull Markets, How...

    4 hours ago
  • Bridging Markets: Torobase’s Bold Stride into Asia...

    5 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.