What is BitBay?

The BitBay name alludes to the Bitcoin & eBay combination. The project's aim is bringing blockchain and decentralization to the online marketplace, allowing sellers and buyers to connect p2p. By using the BitBay market, a built-in feature of the BitBay wallet, anyone gets the opportunity to trade without limitations. The BitBay platform promises things beyond traditional and crypto trading, such as auctions, reverse auctions, cross-trading goods, freelancing and creation of custom contracts. All trading on the platform is conducted via unbreakable smart contracts. Contracts are complemented with a double escrow method where both parties are obliged to act fairly in order not to lose their stake. The BAY coin is the platform's transactional currency minted by a PoS 3.0 algorithm. A unique feature of the BAY coin is called "Dynamic Peg", a system allowing holders to freeze their holdings when the price is low, thus lowering the liquid and pumping the price and vice versa.