Online marketplaces like eBay, Airbnb, and Uber connect buyers and sellers for a common need. To do this job, they take a percentage of the transaction, often upwards of 20%. Taskbar is creating a more efficient marketplace through the use of a blockchain or distributed public ledger.

Taskbar is a decentralized services marketplace, in the same vein as its centralized counterparts UpWork, TaskRabbit, and others, where anyone can request or deliver a task. Unlike those centralized applications, those hired upon completion of the job earn cryptocurrency while also growing their Taskbar reputation. While able to support any task, highlighted examples currently include graphic design, IT support, blockchain consulting, and more.

Scalable payments

Task payouts on Taskbar run on hbar, the Hedera network's native cryptocurrency. When considering which cryptocurrency to support, Taskbar wanted one that could make the smallest of tasks economically viable while also settling payments quickly for unique time-sensitive use-cases. To achieve these, Taskbar required an efficient network with low and predictable fees.

Hedera transactions, including hbar transfers, have consistent fees based in USD. For instance, a standard hbar transfer costs $0.0001, always. These small fees are in stark contrast to alternative public blockchain networks with highly variable gas fees based on the overall usage of the network.

Application governance

To further decentralize the platform Taskbar aims to create a decentralized autonomous organization or DAO. A DAO is a means to decentralize decision-making and control, typically resulting in community ownership of a protocol or application.

The Taskbar DAO intends to use Hedera Token Service to create a governance and utility token called TBAR. TBAR will incentivize community participants to determine the product's direction. Holders of TBAR will be able to vote on critical factors such as dispute resolution, treasury management, or the marketplace's future functionalities.

By providing clear, transparent rules, ownership, and incentives, Taskbar can lower a traditional marketplace's operating cost while minimizing the reliance on a single, centralized entity. Using Hedera Hashgraph Taskbar can confidently bring their marketplace online with low overhead and a positive user experience that scales.