Inspiration: The current state of online marketplaces, such as Amazon, has left the control of transactions solely in the hands of promoters, resulting in high fees charged to users. As a result, users do not have control over their own money in such transactions, leading to a need for a more decentralized and user-friendly marketplace solution.
What it does: DexMart, a decentralized marketplace built on the blockchain, addresses trust and transparency issues in centralized marketplaces. It eliminates the need for a central authority to hold funds by using smart contracts for direct user trades. This ensures that both parties fulfill their obligations before releasing funds, making trading safer. DexMart also provides pricing transparency and is accessible to anyone with an internet connection, offering a secure and transparent way to trade online.
Challenges we ran into: We faced technical problems like fetching the product array, we tried to integrate Chakra UI to make this project more efficient but the integration failed due to some technical structure of the code we built.
What we learned: From this project, I learned how to create a web3 project from scratch. This was my team's first web3 project, and it gave us a solid understanding of the usability and practical applications of web3 in the modern world. We also explored the limitations of web2 and why web3 is on the rise. Overall, this project provided us with a valuable learning experience and an introduction to the exciting world of web3 development.
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