Deworld

Project description Problem Statement Online marketplaces often struggle to establish trust between buyers and sellers, leading to a lack of confidence, disputes, abandoned transactions.and a decrease in overall transaction volume.

Solution Statement Duniverse is a blockchain-based platform for secure and transparent transactions by leveraging escrow and decentralized arbitration

Value Proposition Enhanced Security: Escrow Protection: Funds are held in escrow until the transaction conditions are met, protecting buyers from fraud and ensuring sellers receive payment only after fulfilling their obligations. Immutable Records: All transaction and dispute resolution data is recorded on the blockchain, providing an unchangeable history that enhances trust and transparency.

Fair and Efficient Dispute Resolution Decentralized Arbitration: Independent arbitrators create and manage customizable marketplaces (planets) and resolve disputes based on clear, predefined rules. Incentivized Arbitrators: Arbitrators earn a fee from transactions, motivating them to provide fair and effective dispute resolution and maintain high standards in their marketplaces.

Transparency and Trust: Blockchain Transparency: Every transaction and dispute resolution is recorded on the blockchain, ensuring transparency and accountability throughout the entire process. Reputation System: Users can build trust through a reputation system based on their transaction history and dispute resolution outcomes.

The DeWorld project integrates several technologies, including Next.js, Hardhat (for smart contract development), and RainbowKit (for wallet integration). The smart contracts, written in Solidity, are deployed on both the Rootstock and Hedera networks. It uses TypeScript and Wagmi for seamless Web3 interactions, with contract hot-reloading for efficient front-end updates. Additionally, the project incorporates Ora AI, allowing users to interact with the blockchain via text prompts, enhancing accessibility and functionality in a unique way.