Ink is a decentralized reputation and payment system for peer-to-peer marketplaces, built on Ethereum. Ink helps users safely send and receive payments in P2P marketplaces while earning public reputation for every completed transaction. Sellers can take their earned reputation with them from marketplace to marketplace.
In 2018, Listia introduced a new decentralized reputation and payment system called Ink, which is powered by the Ethereum blockchain and Ink Protocol Token (“XNK”), an ERC20 compatible token. Ink helps users safely send and receive payments in P2P marketplaces while earning a public reputation for every completed transaction. Ink greatly enhances the buying/selling process through decentralized reputation and feedback ratings, decentralized escrow for secure payments, third party dispute resolution, and very low transaction costs.
Ink can be integrated into new or existing marketplaces and can also be used in marketplaces that don't directly handle payments. For sellers, accepting Ink builds up their public reputation, which allows them to start selling quickly on new marketplaces without needing to build a reputation from scratch. Buyers can view any seller's reputation across multiple marketplaces and confidently pay using either automated or human-mediated escrow contracts. Payments can be made and received natively using the XNK.
Ink has also become the new reputation and payment system within the Listia marketplace. Listia previously used a centralized virtual currency called Listia Credits for all transactions. Existing users with Listia Credits have had their balances converted to XNK, providing Ink with a tremendous boost for initial usage, stability, and network effects on day one. With large scale adoption and apps that can be used in multiple marketplaces at launch, Ink is well situated to become the preferred reputation and payment system in all P2P marketplace transactions.