What is Magento 2?

Magento 2 is an open-source E-commerce platform, which is created by Roy Rubin and Yoav Kutner under Varien Inc. Magento was first released on March 31, 2007. It is a useful software for the online business, and currently a largest E-commerce platform in the world. Magento 2 is very simple, versatile, and quick to use.

Magento 2 is the most used CMS (Content Management System) to create online stores around the world by its powerful, scalable architecture. It is compatible with the latest technologies such as - PHP7 which means faster load time in comparison to Magento 1. Magento 2 allows the user to update the E-commerce website automatically.

Magento 2 offers rich features and extensible codebase. Due to these features, organizations with small and large operations all around the world using it for a wide variety of projects. To understand the Magento 2 clearly, we need to know that - What is E-commerce?

What is E-commerce?

E-commerce is a process of purchasing and selling of goods and services over the internet and transfers money and data to execute these transactions. E-commerce is also called as Electronic Commerce or Internet Commerce. It was first introduced in 1960 through EDI and VAN.

Online stores such as - Amazon, Myntra, Flipkart, Paytm, eBay, Shopify, Olx, and Quicker, etc. are examples of the E-commerce website. Using E-commerce website, we can sell physical products over the internet.

Following are the categories of E-commerce:

• Business to Business (B2B): This transaction is done between the businesses. It is between the wholesaler and retailer or between the manufacturer and wholesaler.
• Business to Consumer (B2C): This transaction is done between the businesses and the consumers. In B2C, the merchants sell the products directly to the consumer using shopping cart software.
• Consumer to Consumer (C2C): This transaction is done between the consumers, where consumers trade the products with each other online. In this type of transaction, one consumer/customer interacts with other consumers through the internet.
• Consumer to Business (C2B): This transaction is done between the consumers and businesses or organizations, where consumers make products and services available online for organizations to purchase.

Why Used Magento 2?

• Magento 2 is compatible with the latest technologies such as PHP7 which means faster load time in comparison to Magento 1.
• It can handle approx 10 million page views in an hour.
• Magento 2 is a multi-store and multi-language tool.
• It provides easy ability to set up additional websites using a subset of the catalog and the variation of the design.
• It provides easy admin panel, which is very handy for customization, product creation, filtering data, and navigation.
• Due to its open-source nature, you can design your e-commerce store exactly like what you want, without any compromise.
• It allows searching and sorting of the product in various ways.
• It enables several integrated payment gateway methods such as Paypal, Google Checkouts, Braintree, etc.
• Wordpress is also good, but it cannot be used to develop business websites. Even Wordpress provides plugins for e-commerce, but Magento is specifically built for e-commerce.