If we look back at history, then12th century England gives us the great example of the emergence of the successful village economy. People realized that by creating a community all would benefit through providing a suitable environment for governance, co-operation and decision making. What's more, the village became the focal point for community members to come together to trade and do business.
Enter district0x. Many of you crypto fans will have already come across district0x and their cool concept of creating a network of decentralized markets and communities. district0x is essentially the digital and decentralized version of our traditional trading village. It is a place where digital entrepreneurs can bring their ideas to share with the World. The communities or “districts” as they will be known will operate as decentralized entities made possible through the use of smart contracts on the Ethereum network.
Although anyone can deploy a district to the network, they will all share some similar core functionality such as posting and listing, searching, ranking and reputation and invoicing. This will make a more streamlined experience for users within the district network.
ETHLANCE
The first district deployed was Ethlance, which is a decentralized job network that has been running successfully since January this year. Both employers and employees are able to create profiles on Ethlance and is completely free apart from the minimal gas cost for executing the contract on the Ethereum network.
NAME BAZAAR
This month the second district has been launched which is “Name Bazaar”. Name Bazaar is a peer to peer marketplace for domain names registered via Ethereum Name Service (ENS).The platform will provide an auction-style service to buy, sell or request any ENS name. All auctions take place peer-to-peer without the need or cost of including a middleman.
Anyone with an Ethereum address can use the service via a simple browser extension.
WHAT ARE ENS ADDRESSES?
Instead of the unsightly and impossible to remember hexadecimel ethereum addresses that we are used to, ENS allows you to give a memorable name to your ethereum address. For example instead of
0x5508518BF0723B8C13656ec5824f64A3A2Bd6792
My ethereum address could become
bkkshadow.eth
This is much more appealing and looks closer to what people are used to seeing when they send money via traditional methods such as Paypal. The long hexadecimal codes can appear intimidating and its easy to make mistakes if you don’t copy them properly. ENS addresses in my view are one more step towards mainstream adoption, which is a good thing. Name Bazaar will become the ENS registry for all such names.
“ENS Names reduce the barrier to adoption to ethereum created by complicated hexadecimal addresses”
(P.J. Leimgruber, Head of Marketing at district0x)
Although it is still early days, I see a time in the not-too-distant future where there are countless districts all operating within the framework. The future looks exciting for district0x and name Bazaar. district0x have stated that they envisage any type of communal marketplace being able to be turned into a district.
"If the project requires the ability to post listings, search/filter through listings, rank or give reputation to users, and/or allow for payments; then they should be a good fit for a district."
But for, the coolest thing is that anybody can create a district, even without specialist technical skills or coding ability.
"If you dream it - the team can build it! district0x makes use of a district proposal process to allow the community to determine what districts they would like to see built and deployed to the network next by the district0x team. Winning proposals are voted on by the community using DNT."
I am very excited about the future of cryptocurrencies and with projects such as this I think the future is looking very bright for district0x & Name Bazaar.
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