Magento 2: What is it?

Magento 2 is an open-source e-commerce platform developed by Varien Inc. 's Roy Rubin and Yoav Kutner. March 31, 2007, saw the initial release of Magento. It is a helpful piece of software for internet businesses and the biggest e-commerce platform in the world right now. Magento 2 is incredibly easy to use, quick to learn, and adaptable.

Magento 2 is the most popular content management system (CMS) for building online businesses globally because of its robust and expandable architecture. It loads more quickly than Magento 1 because it is compatible with the newest technology, such as PHP 7. The user can automatically update the e-commerce website with Magento 2.

Rich feature set and expandable codebase are features of Magento 2. Owing to these characteristics, businesses both big and small from all over the world use it for a range of projects. In order to comprehend Magento 2 thoroughly, let's first define what e-commerce is.

E-commerce is the exchange of money and data to carry out transactions including the buying and selling of goods and services through the internet. Electronic commerce or internet commerce are other names for e-commerce. It was initially made available through VAN and EDI in 1960.

E-commerce websites include Amazon, Myntra, Flipkart, Paytm, eBay, Shopify, Olx, and Quicker, among other online retailers. Through the use of e-commerce websites, tangible goods can be sold online.

The categories of e-commerce are as follows:

• Business to Business (B2B): These exchanges take place between companies. It is either between the manufacturer and the wholesaler or the wholesaler and the retailer.
• Business to Consumer (B2C): This type of transaction takes place between customers and businesses. Using shopping cart software, retailers offer goods directly to customers in business-to-consumer (B2C) transactions.
• Consumer to Consumer (C2C): This type of internet trade involves consumers exchanging products with one another. In this kind of transaction, one customer uses the internet to communicate with other customers.
• Consumer to Business (C2B): This is a transaction in which businesses or organizations buy items and services from consumers who make them available online.

Why Was Magento 2 Used?

• Magento 2 loads more quickly than Magento 1 since it is compatible with the newest technology, such as PHP7.
• About 10 million page views can be handled by it in an hour.
• Magento 2 is a multilingual and multi-store application.
• It makes it simple to create more websites by using a portion of the inventory and other design elements.
• It has an easy-to-use admin panel that is great for navigation, customization, product creation, and data filtering.
• Because it's open-source, you can create an e-commerce store that's precisely and uncompromisingly how you want it.
• It offers multiple options for product sorting and searching.
• It makes a number of integrated payment gateway options possible, including Braintree, Google Checkouts, PayPal, and others.