The problem LokBazaar solves

The traditional centralised marketplace sell their own products and allow authorized businesses or individuals to sell their good on their platform. The established platforms usually have a large stock of goods in the warehouses to quickly deliver an ordered product to the customer. The bad thing about this model is that not everyone benefits from it. The more power they have, the less power there is left to the ordinary customers! Also, there are some serious flaws in the centralized model, both for customers and retailers on the platforms:

1. Centralized platforms know too much about you – When you buy something, they get your credit card number and they get your shipping address.
2. The payment methods – This category is painful not for buyers, but for sellers. The most popular method is PayPal, and PayPal usually charges a high fee of 2-3%, reducing the overall profit for a business selling goods on a large platform.
3. Delivery – Sometimes the goods can be lost or stolen during shipping.
   Unfair competition – These companies have their own brands, and they show their own products in the search before other sellers, incentivizing them to spend a lot more on advertising.

This platform gives importance to small shopkeepers who are the real tax payers and are crushed the most when there is some mishap (Example-In COVID 19, all the shops were closed but online deliveries were allowed later). The customer can make the purchase from the shop who is offering the least price of the product. This way customers will get a variety of price options. Customers can rate seller on the basis of their past experiences. And these ratings will be public to everyone. The advantages of a decentralised marketplace includes-

1. Consumers would buy the most popular and recommended products online.
2. Companies and brands will save a lot of money because they won't have to advertise much.
3. Influencers could receive money by recommending products to their followers

Challenges I ran into

There were many challenges which I ran into-

1. I was using Matic for the first time so I had some trouble integrating it with my DApp. However, with the help of Matic's mentors and the docs I was able to sort out this challenge.
2. React rendering and Hooks got me stuck several times. Reading the docs took a while but finally I managed to get it right. StackOverflow was always there to the resue.
3. Designing a proper database schema also took some time. My schema went through many changes. But designing a proper schema is very important for a project.