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Author Topic: ∞💰∞【ANN】【IITO】Escrow Platform with ESC9 protocol ∞💰∞  (Read 440 times)
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April 02, 2018, 09:19:34 AM
Last edit: September 25, 2018, 06:47:04 PM by xredfoundation
 #1


This is an offer for you to participate in a new type of ICO. We are calling it an IITO - Infinite Initial Token Offering.

The IITO start period will be known, but the end period will depend on the amount of funds collected at each stage. Thus, the IITO EscrowBlock will be terminated after the acquisition of all tokens on offer at each stage. During the IITO, companies and individuals investing in the EscrowBlock initiative will pay for distributed tokens through payments in cryptocurrencies or fiat.

IITO has a defence with a long period of establishment. It is the "Control time". The "Control time" is defined as 1 year. If at the end of this period the first stage is not fully funded then all proceeds will be refunded automatically, except fiat payments, which will be refunded manually.

This new type of ICO, IITO, will protect investors from over-foundation and will save money if the initiative does not get fulfilled.

What is the aim of the project?

The aim of the project is to create an EscrowBlock escrow platform for the Ethereum network blockchain. Such a platform can work as an independent environment, or be integrated into other Smart contracts  (see whitepaper), to provide escrow services as part of any other projects. The team will start the project on Mainnet Ethereum blockchain and then make a fork for providing an independent service.

Video presentation


How it will work?

Any token holder will be able to create an escrow contract for a transaction under the ESC9 standard. Such escrow contracts will be able to protect the deposit of one agent and the object of acquiring another agent from unpredictable circumstances.

If the terms of the contract are not executed by any party, then such contract is frozen and transferred to one of the arbitration bodies of the EscrowBlock network. The bodies themselves are not elected in the literal sense, appointment to this post can only be made if you own a certain number of tokens and on this basis voting by the owners of the tokens is for that purpose. Decisions on a disputable issue related to escrow are made through confirmation or cancellation of transactions. If such a decision is made there will be an explanation of the decision, if the counterparties involved in the transaction do not reach consensus, then the arbitrators may decide to transfer the decision to the higher-level for disputed contracts and it can arrange an anonymous vote among the token holders. Anonymous voting or a higher authority may decide in favor of one of the counterparties or in favor of withholding the deposit in full and blocking and canceling the ratings of the counterparties in the system. Anonymous voting is only an extreme measure to resolve disputes between counterparties.

What is the stage for IITO?
1. Development of ESC9, specifications and testing of the basic model in specific markets (up to $40,000).
2. Development of the hierarchy of multi-signature arbitration wallets, deployment of the entire functioning system on Ethereum Mainnet,
preparation for launching its own Ethereum-like network block for an independent transaction environment (up to $100,000).
3. Development of the programing part of the EscrowBlock system and interface for the main software platforms (up to $200,000). The beginning of the offering of tokens on cryptocurrency exchanges.
4. Development of libraries for various programming languages ​and frameworks (up to $500,000).
5. Development of a system for working with deposits in different blockchain networks and payment gateways (up to $1,000,000).
6. Development of a system for the rental market (analogous to Airbnb) (up to $4,000,000).
7. Development of a system for the freelance market (analogous of Upwork) (up to $6,000,000).
8. Development of a system for the market of cross-border cargo delivery (up to $8,000,000).
9. Risk Coverage Fund ($10,000,000)

The sum of each stage doesn't mean that this amount must be spent on this particular stage. Any unspent funds will automatically go to the next stage.

Why are you conducting an IITO. Can you do the project without this?
Yes, and we will do it. But we want to gather the basis for future investment. As you can see, in our roadmap we will develop many services and we need to have the foundation for the next steps because any real business cannot be in profit right from a start. Also, we don't want to have only a few owners in the face of big institutional investors. We want to develop the decentralized platform with the aim to bring the significant benefit in the Crypto World. Any institutional investor will dictate their own rules and we want to avoid this.

Distribution of tokens
  • Among users: 66%;
  • Stored to receive dividends in EscrowBlock: 30%;
  • Incentive campaign: 4%;

Referral program
Yes, and we will do it. But we want to gather the basis for future investment. As you can see, in our roadmap we will develop many services and we need to have the foundation for the next steps because any real business cannot be in profit right from a start. Also, we don't want to have only a few owners in the face of big institutional investors.
We want to develop the decentralized platform with the aim of raising capital in the Cryptoworld. Any institutional investor will dictate their own rules and we want to avoid this.

Team tokens
Due to specifics of the IITO, not knowing when we will be fully funded, the team will receive cliff/vested tokens after each stage. Cliff period = 1 year. Vested period = 1.5 year.

Bussines model
EscroBlock services will get a percentage after each deal (usually it will be 1%). Any holders of the tokens will be able to get dividends in proportion of the profit from Escrowblock services.

Team

Konstantin Viktorov
The founder and technical director of the project EscrowBlock. More than 14 years in the field of information technology. He created from scratch or participated in projects for large companies such as Aeroflot, TELE2, Velcom, Upwork, Toptal, etc. He has experience in building from scratch highly loaded real-time systems, the experience of creating software in different programming languages for different spheres of human activity. He has a bachelor's degree in the field of physics of magnetic phenomena.

Kevin Hollands
Founder and highly qualified investor in the markets of cryptocurrencies, real estate and construction. He has more than 20 years of practical experience, a huge track
record in project management. Kevin manages all aspects of investment, including strategic management of companies working in the investment and construction business.

Short 1st stage explanation

On page presentation

Table of the main information

Url:https://escrowblock.net
WhitePaper url:https://escrowblock.net/whitepaper.html
Logo url for media: https://escrowblock.net/images/escrow_1024.png
Platform:Ethereum
TokenSale address:https://etherui.net/smartcontract/0x65717fb50ee8f93827f9eeca761e108e502b255f
TokenSale code:https://etherscan.io/address/0x65717fb50ee8f93827f9eeca761e108e502b255f#code
Token address:https://etherscan.io/smartcontract/0x5e365a320779acc2c72f5dcd2ba8a81e4a34569f
Token code:https://etherscan.io/address/0x5e365a320779acc2c72f5dcd2ba8a81e4a34569f#code
Smart contracts:https://github.com/escrowblock/smartcontracts
Blog:https://medium.com/@escrowblock
Facebook:https://fb.com/escrowblock/
Github:https://github.com/escrowblock
Reddit:https://reddit.com/escrowblock
Twitter:https://twitter.com/escrowblock
Telegram:https://t.me/escbnet
Team url:https://escrowblock.net#team
ICO Url:https://wallet.escrowblock.net or https://escrowblock.net/instructions
One page presentation:https://escrowblock.net/one_page_presentation
Start date:02/04/2018 12:00 UTC
Finish date:TBC
ICO Supply:100 000 000
Max Supply:110 368 000
Start bonus:20%
Asset title:EscrowBlock
Token/coin Title:ESCB
Symbol Title:
Accepted currencies:BTC, ETH, DASH, BCH, more than 70 cryptocurrencies + credit cards and wire transfer.

Escrowblock IITO   |  from 2 April 2018   | 20% on 1st stage
The aim of the project is to create an EscrowBlock escrow platform for the Ethereum network blockchain.
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April 02, 2018, 09:24:38 AM
 #2

@xredfoundation, thank you for the post with images!

Dear community, please send to this account any your questions. It is official account of EscrowBlock foundation for bitcointalk.
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April 02, 2018, 08:30:48 PM
 #3

The idea is quite interesting. Is this something like the whole shipboard system based on the technology of blockchain?
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April 03, 2018, 08:52:07 AM
 #4

The idea is much wider and includes a dispute resolving system but the dispute resolving is not the only vector of the stack.
We are preparing some articles for an in-depth explanation on the hierarchy of multi-signature wallets. It will explain in more detail about the 1st stage of the project.
Briefly, the main concepts are:
1) Avoiding centralization for dispute resolving. The final decision will be the last step for dispute resolving - anonymous voting.
2) Possibility for refunding any bad transaction on the platform (revocable transaction).
3) A safe way for cooperation between counterparties. You can order any goods or services from anywhere or anyone and not be afraid of any aspects of the deal. No need to check counterparty credentials, EscrowBlock will do this automatically.
4) Payments between counterparties will be available on any blockchain and from any fiat sources.
When we publish our stack anyone from the community will be able to integrate our escrow services into any business.

Many businesses must have escrow services to do safe deals.
For example:
1) Rental market.
2) Freelance market.
3) Exchange platform - crypto to fiat and fiat to crypto. The current problem of being "not a revocable transaction" will be resolved.
4) ...
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May 13, 2018, 10:24:05 AM
Last edit: September 25, 2018, 06:45:15 PM by escb
 #5

Referral program
Our offer for you to participate in our referral program to spread information about our new IITO and gain rewards from investors buying and referrals.

How to participate
You can log in to our wallet app by https://wallet.escrowblock.net
and share the ready referral link from
https://wallet.escrowblock.net/referralprogram
or you can just target traffic on https://wallet.escrowblock.net/ref/yourETHaddressHere, for example, https://wallet.escrowblock.net/ref/0xf49bfaaf9fda49953ebcfbe7ff555477fcd98396
We use cookies to track referrals. The cookie will be live for 1 year. If your referral buys tokens, you will receive 2% of total tokens purchased and your referral will also get 2%.

When will I get my rewards?
Immediately. Because we use blockchain internal logic for our referral program. IITO smart contract will issue tokens immediately after buyer will finish the process of purchasing.

What is the maximum count of tokens that can be allocated per one referral address?
It doesn't have any limits. Token amounts can be ranged only up to the amount of total supplied.

Can I use direct blockchain method to participate in referral program?
Yes, if you want to buy tokens with referral bonus directly, then just send ETH to paymentAffiliate() with _referral (address). You can use MEW, CLI or
https://etherui.net/smartcontract/0x65717fb50ee8f93827f9eeca761e108e502b255f
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May 30, 2018, 10:51:02 AM
 #6

Hierarchy multisignature wallets
(Trust system)

This text describes the abstraction of a trust system that allows you to integrate escrow services into any sphere of economic relations.
Depositing funds is a fundamental part of any transaction. If counterparties do not know about each other reliable information, the risk of fraud increases. This abstraction allows programming in a decentralized network a dispute resolution model, a model for conducting automatic transactions, protected transactions, etc. At the same time, such a model of the trust system is open. All transactions conducted with the participation of the hierarchy of multisignature wallets allow you to rate the counterparty’s rating, as well as to protect against fraudulent schemes of new participants in economic relations.

You can find the continue by link https://medium.com/@escrowblock/hierarchy-multisignature-wallets-9e33ba1c5541
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September 25, 2018, 06:44:04 PM
 #7

We have decided to conduct the airdrop before our ECB exchange platform is opened for several reasons:
  • We will spread ESCB tokens via airdrop because we need to have maximum involved holders before we can launch new products based on our exchange platform.
  • As such the platform will allow being used with minimal fee only if the holder has ESCB tokens. This step lets more members of our community get involved
  • We don’t want to waste current accrued capital for advertising far and wide while we don’t have a solid core for our community.
  • Many ICO can’t involve new members in their community because many investors were disappointed after their first investment last summer. Almost all ICO didn’t make any profit after a year. Real investors avoid participating in the earlier stages. We expect to avoid such an effect by conducting airdrops to form the community core.
  • To avoid negative circumstances we will spread ESCB tokens for free to attract new influencers.
  • We will be listing ESCB tokens on external exchange platforms as soon as possible after our own exchange platform is launched. We expect that it won’t take longer than 1–3 months.

Benefits for participating in ESCB tokens Airdrop:

Only a few actions to get 100 ESCB tokens for free. You have to follow our channels in Twitter and Telegram, then you will be added to our list for getting free tokens in ESCB wallet. After this moment you need just click on the button “Get free tokens” in our wallet-app.
  • ESCB will distribute dividends for holders. (Check our White paper for details)
  • ESCB holders will be able to use Trust system platform.
  • ESCB holders will have the lowest fee on ESCB exchange platform.

For participating you have to do 3 steps:
1. Follow our twitter channel by url — https://twitter.com/escrowblock
2. Follow our telegram channel by url — https://t.me/escbnet
3. Paste your profiles to fields in our wallet app — https://wallet.escrowblock.net

Instruction for step 3:

1. Go to https://wallet.escrowblock.net in your browser.
2. Sign up or sign in if you already have an account.
3. Go to https://wallet.escrowblock.net/airdrop
4. Add own accounts, that have followed our accounts, click “Submit for validation”
5. After checking our bot will add your address for getting free tokens. You will receive notification about this event and status will be changed to “validated”.
6. Click on “Get free tokens” and confirm the transaction. Don’t send any amount ETH during this step.

More https://medium.com/@escrowblock/about-escb-airdrop-a766fc15be27
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October 07, 2018, 05:26:00 PM
 #8

We have started our collaboration with https://www.airdropsmob.com/escrowblock-escb/.

For this reason, we have two lists for participators in the same Airdrop program. For participators who use airdropsmob it can be awkward to get tokens via our wallet app — http://wallet.escrowblock.net because they will have to do additional steps.

To get free ESCB tokens in such a case you will receive an email with title “Escrowblock notification: Airdrop validated” if all tasks are done correctly. After this is done you can send 0 ETH to our address for Airdrop program — 0x0c73260f143f198bd5f34a66487da5eb3bd2bcdc with filled “data” for action the method is “getFreeTokens”

For example, you can use:

1. https://etherscan.io/address/0x0c73260f143f198bd5f34a66487da5eb3bd2bcdc#writeContract with Metamask.
2. https://etherui.net/smartcontract/0x0c73260f143f198bd5f34a66487da5eb3bd2bcdc with Metamask/ generation new wallet/ unlocking own wallet.
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October 24, 2018, 09:51:18 AM
 #9

Some explanations for airdrop participants
In view of the fact that some Airdrop participants who use the https://wallet.escrowblock.net application have expressed concern, we post these clarifications.
  • If you use Metamask, then you use your primary address.
  • If you participate in our Airdrop using third-party platforms, such as https://www.airdropsmob.com/, then you use your primary address.
  • If you generate a new personal wallet in the https://wallet.escrowblock.net application, you MUST READ the nuances outlined below.

Our Airdrop uses the faucet mechanism. This Smart Contract can be found at https://etherscan.io/address/0x0c73260f143f198bd5f34a66487da5eb3bd2bcdc#code

The mechanism of the faucet is that the Airdrop agent only adds verified addresses that have completed tasks to the list to receive tokens.

If you received an email with the title “Escrowblock notification: Airdrop validated”, then your address has been added to this list and you can be guaranteed to pick up tokens ANYTIME. They are highlighted to you and the point.

Why we use the mechanism of the faucet and not a simple distribution by transfer to your address.

  • It is cheaper. We will be able to distribute more tokens among more participants.
  • You can use your tokens only when it is profitable for you.
  • Re-issuance to one address is excluded. This is honest.
  • Rapid distribution, since you do not need to wait for the robot’s turn to send a token.
  • We will be able to forcibly send to your address already allocated tokens, if necessary.
  • Additional rewards are possible by transferring tokens to your address.
  • Due to the fact that the https://wallet.escrowblock.net application can work with a newly generated wallet, this address has a zero balance.

To perform the “Get free tokens” function, you must have at least 0.002 ETH on your balance. To transfer from such a wallet address to another wallet will cost another 0.002 ETH. Generating a new wallet works only if you are not using the Metamask web3 extension which is necessary for the security of your main wallet.

Thus, wallet address in the https://wallet.escrowblock.net application assumes work only with ESCB tokens, but can be used for any other task within Ethereum blockchain, because you are given UTC / ​​JSON, and you remember the password yourself (we do not store it).

If you do not want to use the generated wallet to receive Airdrop, then you can specify for Airdrop in the address field the address of your primary wallet.

IMPORTANT: the address of the wallet in this field will be added to the list of the faucet and ESCB tokens will be allocated only for this address.

If you mistakenly added an address, please contact support.

If for some reason you cannot get tokens through the https://wallet.escrowblock.net application, please contact support.
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November 07, 2018, 01:24:18 PM
 #10

How to claim free tokens via Metamask

Go to https://etherui.net/smartcontract/0x0c73260f143f198bd5f34a66487da5eb3bd2bcdc

Select Metamask from the top right corner and unlock this. Then click on “Execute”

Find “GetFreeTokens” method and click on the button “send”. Review your transaction, it must contain 0 ETH and you must run the transaction from the address that you have placed in the Airdrop form.

After performing this you will receive your tokens.


For checking your address in the Airdrop list, you can use the function “CraneList”

You must see “true” after performing this. If your address is not yet in the Airdrop list.

Or you can use Etherscan.io
Go to https://etherscan.io/address/0x0c73260f143f198bd5f34a66487da5eb3bd2bcdc#writeContract and perform “GetFreeTokens” after the connection with Metamask.


This instruction with pictures places here https://medium.com/@escrowblock/how-to-claim-free-tokens-via-metamask-6fcffd77bec8
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November 07, 2018, 06:10:22 PM
 #11

What means ? "We call it on IITO - Infinite Start Token." Infinite - does it mean never end, never grow out of the initial one?


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November 14, 2018, 10:23:36 AM
 #12

The IITO start period will be known, but the end period will depend on the amount of funds collected at each stage. Thus, the IITO EscrowBlock will be terminated after the acquisition of all tokens on offer at each stage. During the IITO, companies and individuals investing in the EscrowBlock initiative will pay for distributed tokens through payments in cryptocurrencies or fiat.

IITO has a defense with a long period of establishment. It is the “Control time”. The “Control time” is defined as 1 year. If at the end of this period the first stage is not fully funded then all proceeds will be refunded automatically, except fiat payments, which will be refunded manually.

This new type of ICO, IITO, will protect investors from over-foundation and will save money if the initiative does not get fulfilled.

Full article: https://medium.com/@escrowblock/iito-3ca5981312c2
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November 14, 2018, 10:33:51 AM
 #13

Why our exchange will be much better than other solutions

Our Airdrop process is in full swing and we, before demonstrating our platform, want to talk about the logical aspects of the first exchange platform based on the ESCB9 protocol.

Now we are seeing the emergence of many exchange platforms. Many of them resemble each other and fit into one of several concepts.

  • With commission
  • No commission
  • Decentralized
  • Centralized
  • Cryptocurrency
  • Crypto-fiat

Exchange platforms with a commission and without won't be considered because doesn't improve the idea at all.

The most common are precisely centralized exchanges. They account for more than 90% of all operations with cryptocurrencies. The top 5 exchanges account for up to 80% of all operations with crypto assets.

So why do we think that our exchange platform will be competitive?

To answer this question, it is necessary to understand how any exchange and currencies in particular work.

Side A has 1 ETH and wants to exchange $200. In this process, someone will have to pass the exchange object first. Here a trust problem arises, because the party accepting the transferred object may not fulfill the conditions of the transfer on its part. It is solved by escrow.

A typical centralized exchange informs you of the account number where it is necessary to transfer the amount to before the start of any transaction on this exchange. Thus, you have a deposit for all operations with this asset at the address of the exchange. To withdraw a deposit, you need to ask the exchange team to send you an asset back. The exchange in this way can freeze all deposits on the platform for any reason. Many exchanges do not register at all and work on honesty. Centralized exchanges can lead to the worst consequences for the entire market, such as exit-scam MappleChange or stealing a large amount from hot wallets, as happened with Zaif.


Decentralized exchanges are deprived of this disadvantage, but can only work with digital assets, since the deposit for the exchange takes place according to the algorithm of the Smart Contract. The advantages of such exchanges are huge since at least you can make a direct transfer of assets since two participants make a deposit.

Crypto-fiat exchanges or exchange offices operate on the principle of trust, so they do not use a deposit. You immediately send the cryptocurrency to the operator and then wait for the transfer of fiat money to a plastic card or receive a different asset. The commission for the operation for such exchanges is quite large, 8?10 percent of exchange quotes. Such exchanges are often the only way to exchange fiat money for cryptocurrencies.

Our exchange platform allows you to combine the best approaches for assets exchange. In this way, it is safe to exchange any crypto assets for fiat or other high-speed assets.

How can we achieve this?

Our hierarchy of multi-signed wallets algorithm forms the Trust System and allows all parties to the exchange to form and validate new members who will exchange directly with each other. This approach will achieve several main properties:

  • Use the decentralized principle
  • Transfer centralized exchange features to the community
  • Avoidance of using hot wallets and centralized deposits
  • Open source for exchange platform code
  • Operations will be conducted on the blockchain, that allows using all benefits of this approach
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November 14, 2018, 03:19:17 PM
 #14

An escrow project sounds interesting. Are you using smart contracts to distribute tokens to investors as well? It is nice that the escrow is mainly working automatically, so that no trust between users to an escrow agent is needed. It is also a positive thing that you have a strategy of resolving disputes. Good luck to the team!
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November 28, 2018, 01:21:21 PM
 #15

Our exchange platform is built on microservice architecture. This will allow, in the future, to quickly scale the project. Each part of the server side will be engaged in only one logical task and therefore increasing the computing capacity for only one task will allow you to save the budget for maintaining the system. For any exchange, the main part, its heart, is the “matching engine”. There may be several instances of such “engines” and each of them, in the current approximation, can process up to 1 million comparisons per second. Thus, if necessary, we will be able to quickly increase the computational power of the exchange at the lowest cost, simply by adding the necessary number of instances of matching mechanisms.

The tremendous speed of matching between transactions can be achieved only when working in RAM, therefore the matching engine is an in-memory database with the restriction that data loss is unacceptable. Therefore, data on transactions are duplicated in a non-relational database, both before loading into the matching engine, and after matching in order to preserve this important information. In case of system malfunctions at the service level of the matching engine, the instance is simply recreated and all data from the non-relational database is loaded into the in-memory database. Thus, the stable operation of the exchange is guaranteed. The non-relational database also works in a cluster environment with horizontal scaling logic. Thus, on one copy of such a database, there will be orders from the number 0–100,000, on the other 100,001–200,000, etc. Such an architecture guarantees the preservation of the history of transactions in the long term.

As stated in the API specification for the https://docs.escb.exchange, the exchange will support 7 types of applications (orders).

  • Market — An order to buy or sell an instrument at the best available price. Contains no restrictions on price or time frame.
  • Limit — An order to buy or sell a set amount of an instrument at a specified price or better. A limit order may not be executed if the price set is not met during the time that the order is open.
  • StopMarket — An order to buy or sell only when an instrument reaches a set price. Once the instrument reaches this price, the order becomes a market order.
  • StopLimit — An order to buy or sell only when an instrument reaches a set price. Once the instrument reaches this price, the order becomes a limit order to buy or sell at the limit price or better.
  • TrailingStopMarket — An order that sets the stop price for an instrument at a price with a fixed offset relative to the market price. If the market moves and the stop price is reached, the order becomes a market order.
  • TrailingStopLimit — An order that recalculates the stop price for an instrument at a fixed offset relative to the market price. It also recalculates the limit price based on a different fixed offset. If the market reaches the stop price, the order becomes a limit order.
  • BlockTrade — A privately executed trade.

After comparing transactions and finding the best parameters for its conduct between the parties, the process will be held directly between the parties with the participation of HMW on the blockchain. Thus, we implement a decentralized approach for conducting transactions with centralization by the platform itself for quick search and comparison of the most favorable conditions for both parties.

Since, in our opinion, any excessive centralization is harmful for the exchange, we will publish the source code of the exchange platform so that everyone can create their own exchange platform based on the ESCB9 protocol. Everyone can also integrate its applications with exchange platforms via API. For example, it will be useful to raise funds during an ICO. Participants will be able to invest any asset without the need to convert it; the exchange API will do it for the user.

If we describe the logical chain of conducting transactions briefly, then we get the following algorithm for the exchange based on the ESCB9 protocol:

  • Party A wants to exchange 1 ETH at the rate of $ 200 and places an order for an operation on the exchange platform
  • Side B places an order to buy 1 ETH at the rate of $ 200 on the exchange platform
  • The matching engine compares the orders of the parties A and B and determines that the transaction can be made
  • The exchange platform attaches to one of the HMW dealers Smart contract deal and sets InProcess status for orders
  • The Exchange website sends a notification to Side A with instructions for replenishing the deposit for the transaction, which is described in the Smart Contract

The website of the exchange sends a notification to party B with a warning about the transaction in a certain time window on the fixed conditions
After replenishing the deposit by party A within a certain time frame, information is sent to party B for transfer of $ 200 to party A
After acknowledgment of receipt by party A of the agreed $ 200, a deposit at the address of the HMW dealer will be sent to party B
The HMW structure records data about the transaction and sets a rating for counterparties

Orders on the exchange platform are placed in FullyExecuted

As we see such a chain eliminates the risk of an exit-scam and the transaction itself is made between two counterparties in a safe way. The transaction itself can be carried out exclusively on the blockchain, while the exchange platform is used for the convenience of making such transactions in an intuitive format.

If a deal between counterparties is made on a third-party blockchain platform, for example, buying 0.1 BTC for $ 650, then it is conducted using Oracle. That is, with the help of such an auxiliary Smart contract, which allows you to link the Ethereum blockchain with the outside world. The Oracle contract allows you to write data from the outside world to the blockchain only from a specific wallet address. Data for recording will be provided by special utilities for working with each of the external sources. Thus, the operation on the Bitcoin blockchain can be recorded on the Ethereum blockchain in a safe way. Each HMW dealer will have its own Oracle contract, which will reduce the risk of an attack on such a node of the Trust System.

Each operation involving HMW will contain a commission for services, which will be calculated individually for the parties to the transaction depending on the rating in HMW, the number of ESCB tokens, etc. The commission will be spent on maintaining the network and distributing dividends between ESCB token holders.

Legal regulation of transactions
ESCB foundation provides community software and does not participate in the financial activities of the network, so our organization does not need to obtain any licenses for its activities. Transactions take place directly between the parties using the secure escrow mechanism using the ESCB9 protocol. The structure of the HMW may include financial agents and dealers who have licenses for certain activities upon request and to comply with the local law of the parties to the transactions.
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November 28, 2018, 04:53:57 PM
 #16

Special thanks for translating your project into many languages. As I understand it, the protocol will be used by ERC20. But, now newer and more compatible protocols are being used. ERC223 for example. Faster and safer.
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December 06, 2018, 10:55:50 AM
 #17

New details about our roadmap

  • We have distributed ESCB tokens in manual mode for members who did not take tokens by faucet mechanism on 1 December 2018.
  • All referrals and distribution rewards will be made from 1 to 10 January 2019.
  • Exchange listing will be possible from 15 January — 15 February 2019 depending on our negotiations with exchange platforms. We will announce this big event soon.
  • Our development team promises to launch the ESCB exchange platform in test mode on 15 February 2019.
Participators who got tokens from the faucet before 1 December will be allowed to be part of the first structure for hierarchy multisign wallets (HMW) with bonuses 10 000 ESCB tokens. Such members are 100–120.
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December 18, 2018, 01:08:03 PM
 #18

As described in the previous post on the technical details of the implementation of a decentralized exchange based on the ESCB9 protocol, the web interface itself and the server part will only be a wrapper for the Ethereum network based blockchain architecture.

Due to this technological solution, it is necessary to minimize the data collected from the user and not to store sensitive information on the servers of the exchange. In order to accumulate statistics, to store information about completed transactions and quickly interact with the Trust System, based on the HWM solution, the user must have a profile in the exchange database based on the ESCB9 protocol.

Regular applications use registration by email address or phone number. Registration by phone number may immediately discredit the user. Registration by email reserves the risk of phishing attacks. Registration with OAuth technology reveals even more information about the user.

We decided to abandon all these methods and implement the registration based on the signature from the Ethereum wallet. Thus, even if a stock exchange based on the ESCB9 protocol is hacked, no personal data, passwords, etc. will be known to attackers. To implement the authorization mechanism for signing a crypto wallet, we added the ability to use Metamask, Hardware-wallet, create a new Ethereum wallet, unlock a UTC / JSON-based wallet with a password in the user’s browser.

We want to achieve a balance in which the maximum amount of data that will be stored in the ESCB9 database is data available on the blockchain, or data that will not lead to a compromise due to a leak. In this case, the user will be provided with the necessary information quickly and in sufficient quantities.

When authorizing only by signing the wallet, a natural question arises about how to notify the user about actions on the exchange, how to implement security when accessing data stored on the exchange.

  • Event notifications can be configured to receive on the device on which the entry is made to the exchange. For example, when using a personal mobile phone push-notification of actions on the exchange will be received via a secure channel.
  • The user can add his personal email to receive notifications. We recommend using Protonmail or other protected platforms for this purpose.
  • Also, the notification can be configured to receive messages from the bot in the Telegram messenger.

We hope that these three methods of receiving notifications will be enough for our users.

To check the legality of access to data stored on the ESCB9, the standard two-factor authentication mechanism OTP is used.

Also, the user can configure IP login verification. This option will be available only if he/she specifies an email address as a means of receiving notifications. The exchange stores the IP addresses of users in a database in an encrypted form using the sha256 algorithm. Each time user logs into an account from a new IP address, the hash of the IP address in the database will be compared with the hash of the user’s IP address. If the hashes do not match, the pin-code will be sent to the email address specified by the user to validate the input from an unknown IP address.

We also do not plan to use third-party services for analytics and statistics collection, such as google analytics. Since such services collect statistics on the real IP address of the user.

For the dispute resolution system, file uploading is required. For this function, we use the distributed decentralized file storage system ipfs.
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January 15, 2019, 06:51:13 PM
 #19

Holidays associated with Christmas and New Year, in different countries, were drawn out but we worked hard in those days for the benefit of our offering. From the 1st to the 4th of January we paid the referral program reward for the first time. Our telegram community is approaching close to 10 thousand as the statistics show at https://etherscan.io/token/0x5e365a320779acc2c72f5dcd2ba8a81e4a34569f our token holders are almost 8 thousand. Thank you all for such confidence!

We are happy to announce that our token will soon be trading on https://p2pb2b.io exchange. Agreements have already been signed and we are currently working with the exchange for an easy adoption but unfortunately, we cannot disclose all information right now. We are preparing a big announcement in conjunction with the trading platform, which will be the first to offer the ESCB token to its users. You can find some information in press-releases https://coins.newbium.com/post/24763-8-projects-to-consider-for-investment-in-2019-p2 https://www.openpr.com/news/1490887.html

We are stopping our Airdrop phase 1 today 15 January, but we will be considering to continue Airdrop phase 2. For this reason, you don’t need to stop sharing info about ESCB. All rewards for Airdrop phase 1 will be paid up to 1 February.

Our technical department is busy testing the MVP exchange platform for the experimental environment. Soon we will be able to explain the dispute resolution subsystem based on Ethereum keys. In the meantime, we posted the concept of HMW on Github. The development of such a complex system as escrow services on the Ethereum blockchain requires a great deal of effort so we plan to establish a system of grants/rewards for third-party developers after listing on the exchange.
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January 16, 2019, 02:17:57 PM
 #20

Do you have an understanding of how the fork of etherium will be delayed due to the identified vulnerability? This, after all, can negatively affect your token?
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