For many average internet users, the nuances of darknet markets make it difficult to fully embrace them, and there are occasional reports of exit scams where the dark web clients are the losing party.
Although escrow systems and other centralized mechanisms have been developed and implemented to shield both dark web sellers and buyers, they are not 100 percent scam-proof.
However, dark web users can rest easy knowing that alternate systems are being developed to tackle these problems.
One of the newest and fastest growing darknet markets that appear to be a solution is TheDealersChoice (TDC).
TDC is an open source client-side encrypted service that facilitates dark web transactions in a trustless territory.
TheDealerChoice boasts of having a decentralized operational model. This new system eliminates the need for the market administrators to arbitrate any arising disputes among the users.
Instead, TheDealersChoice users are allowed to employ third party escrows from vendors such as Bitcointalk.
The disputing users have to mutually agree on and verify the external escrow, theoretically eliminating the intentional scamming of consumers and merchants and maintaining TDC as a neutral party.
The main advantage offered by this new system is that the TheDealersChoice darknet market does not take any sides in case of a disagreement.
As such, dealers with a tendency of defrauding buyers and sellers will find it almost impossible to operate on TheDealersChoice.
It is important to note that the efficiency of this system depends significantly on the competency of the third party escrow, as issues may still be present with the external arbitrator.
TheDealersChoice is unique in that it does not receive or hold any consumers’ funds. Furthermore, the consumers’ vital information is not stored by the service.
TheDealersChoice does not charge any transaction fees, and derives its income from anonymous advertisements on the site.
Not charging fees and not holding users’ funds eliminates TheDealersChoice from the possibility of an exit scam, as happened with Evolution marketplace.
TheDealersChoice is also at the forefront of ensuring user privacy. By employing client-side encryption, the process of encrypting sensitive data such as credit card information on the client end device before it is sent to a server, this market protects the personal information of its users to a great extent.
This cryptographic technique utilizes an encryption key, which is unavailable to the service provider – making it nearly impossible for the service provider to decrypt the hosted data.
This exceptionally efficient data security method ensures that TheDealersChoice user data can only be observed on the client side of any exchange.
TheDealersChoice thus protects against data loss or disclosure of personal information, seeming to be the only darknet marketplace utilizing client-end encryption and signing.
TheDealersChoice also features decentralized orders, meaning that instead of the orders being in the darknet market’s realm, they are placed in the dealer’s realm. This operational model further protects all client information.
An additional privacy and security feature is end-to-end (E2E) encryption between the dealers and clients.
With E2E encryption, TheDealersChoice does not have access to information regarding the orders such as shipping addresses.
Furthermore, users do not need to register or log into TheDealersChoicein order to purchase products and services.
This is only necessary for the dealers, as it is mandatory for posting any listings.
All listings on this dark web platform are uncensorable, meaning they are protected by signatures.
TheDealersChoice is a fairly new service and as with all new programs, it is still work in progress.
The platform has been careful to clearly indicate that the site is in development at present.
There are a few notable drawbacks affecting this service. It is not as easy to understand and use when compared to other darknet platforms, and the user interface is also relatively unappealing due to TheDealersChoice’s incomplete status.
Nonetheless, it is seen as a step forward in fostering better user experiences in the dark web.