How safe are Web3 Marketplaces?

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Generally, they are much safer than traditional online marketplaces and classified ad websites like Facebook Marketplace, eBay, or Craigslist which often breed fake ads and scam chargebacks.

Unlike these traditional platforms, a Web3 marketplace does not require to enter and store users personal data or billing addresses allowing them to keep identities private. That said, the transactions are carried out on public blockchains where the blockchain verifies them before the transaction is finalized. Once finalized, the record is kept indefinitely in the blockchain and can be traced to the specific wallet to verify.

In addition, Zenland Web3 Marketplace ensures the safety of the transaction between the buyer and the seller through the escrow smart contracts. These contracts serve as special blockchain containers that keep the funds until both parties fulfill their obligation.

Altogether this makes web3 marketplaces safer alternatives to traditional ones changing the way how strangers do business online.

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