Magento is a platform that is open source. Magento 1 became the first of its eight-year version for shopping sites. But the growing online base of users made the demand for improved performance business growth a necessity that was not easily achieved with Magento 1. In 2015, Magento 2 was launched to address the increasing expectations of companies. Magento 2 is the latest e-commerce software in the Magento family, which attempts to improve online stores' speed, performance, and conversion rates by providing numerous other high-level capabilities.

To understand Magento 2, we should know about E-commerce?

What is E-commerce?

The term e-commerce refers to a business concept that enables organisations and people to buy and sell commodities and services on the Internet. Ecommerce is available through a computer, tablet, smartphone, and other intelligent devices in four primary market sectors. Electronic commerce, including books, music, plane tickets, and financial services, such as stock investment and online banking, makes almost any available commodity and service.

These are the e-commerce categories:

• Business to Business (B2B)

The transaction between companies is carried out. It is between the dealer and the wholesaler, and the manufacturer.

• Business to Consumer (B2C)

This transaction takes place between businesses and consumers. In B2C, companies directly use shopping cart software to sell their goods to their consumer.

• sumer to Consumer (C2C)

This transaction takes place between consumers when consumers trade things online. One consumer/customer connects with other customers on the Internet in this form of transaction.

• Consumer to Business (C2B)

This transaction occurs between consumers and companies or organisations when consumers make online items and services available to companies to purchase.

WHY MAGENTO 2?

Magento 2 is the best available shopping cart solution for your company. It offers a wide range of configurable options that make it a superior platform for your online stores. With the usage of Magento 2, you can handle your store’s aesthetics, content and purposes with very much efficiency.

Reasons which would help you in determining why Magento 2 is better and convenient as an option for e-commerce platforms:

ADVANCED SCALABILITY AND PERFORMANCE

Magento 2 is proven that it operates 20% faster on average. The usage of Ajax enables adding things to the cart easier for users without reloading the website. The full-page caching functionality integrated into the platform has also proved to load pages quicker and can therefore be scaled even for huge companies.

EASIER CHECK-OUT PROCESS

In Magento 2, the check-out process consists of only two quick steps, allowing clients to do better shopping and reduce cart erosion. It gives guest check-out options without login or registration. In addition, when the customer enters its delivery address, the shipping charges are dynamically charged. It is certain to boost the conversion rate when Magento 2 compared to the six-stage Magento 1 method.

HIGHLY COMPATIBLE

To provide your site with improved functionality, it is much easier to integrate third-party tools and other popular extensions with Magento 2, such as payment gates like Braintree and Paypal. It provides connectivity with various PHP frameworks, databases, web and cloud services, making it a trouble-free Magento development tool.

BETTER ADMIN INTERFACE

The Magento 2 administration interface is easier to use and easier to operate. It is very adaptable and created so that administrators can easily access relevant data and easily manage goods. This contributes to reducing time in the administration of a shop online and is very useful.

Magento 2 offers significant tools for enhanced marketing, SEO and catalogue management.

History of Magento 2

Currently, the most renowned e-commerce platform is Magento 2. On 31 August 2007, Magento was released. The work began under Varien Inc. by Roy Rubin and Yoav Kutner. Initially, the e-commerce and osCommerce sub-system is regarded to be Magento. Yoav Kutner departed the Magento in 2012.

The founders felt that the functionalities they desired in a new system could not be accommodated in the osCommerce. So they connected to it, and from the start, they constructed a whole new system. 

The History of Magento Timeline 2007 – 2020

• Roy Rubin and Yoav Kutner start a Varien project during their study at UCLA.
• In 2007, Rubin began running Google Adwords advertising and entered into a significant agreement by spotting a market gap with competitor osCommerce. This investment has enabled the Magento framework to be developed.
• In 2008, Varien published its first product under an open-source licence. The term Magento comes from the magenta colour of the initial logo. Since the Magenta.com domain was taken away already, they have decided on Magento.com's more masculine version.
• The popularity of the open-source platform called Magento Community Edition has grown rapidly because of its extremely flexible structure. By the beginning of 2009, osCommerce was more popular than its predecessor.
• The company name Varien was changed to Magento in 2010 because the platform was more recognisable.
• It was asserted in February 2011 that eBay had made a 49% share of Magento's investment in 2010. eBay then announced in June 2011 that the whole firm would be acquired. As PayPal owner, eBay then directly incorporated PayPal into the Magento platform.
• The Magento Imagine Conference took place in Los Angeles for the first time in 2011. Magento Developers with over 600 Magento merchants and partners have been involved in the event. The conference has been conducted annually since 2018 in Las Vegas alongside Magento Imagine.
• Due to the separation of PayPal from eBay in 2015, Magento was twirled out as a sovereign corporation by the new proprietor Permira private equity fund in November 2015.
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• A platform as a service (PaaS) was launched in 2016 with the Magento Enterprise Edition. It was aimed at large companies that require technical support in the installation, operation, configuration or debugging. It featured the same central source as Magento Community Edition.
• Magento Open Source and Magento Enterprise rebranded the Community and Enterprise Editions in 2017.
• In 2018 Magento was announced to be owned by Adobe for $1.68 billion to integrate it with its Enterprise CMS platform, Adobe Experience Cloud. In June 2018, the acquisition was completed.
• Adobe announced in October 2018 that Magento 2.3 would synchronise its Magento sites with Amazon and consolidate its product listing with Google Merchant Center and Google advertising channels.
• In 2019 Adobe joined the Adobe Experience Cloud with the Magento Commerce Cloud. This connectivity allows companies to combine end-to-end experience from production to trade, according to Adobe.