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Author Topic: ⚖️ trustless escrow ⚖️ decentralized dispute resolution ⚖️ ⚖️  (Read 23 times)
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January 10, 2020, 12:48:00 PM
Last edit: January 10, 2020, 01:03:52 PM by stefek99

TLDR: There are multiple guys on the forum offering escrow service.

Most of the transactions are smooth, no need for escrow. But in the rare instance when something goes wrong - it's super useful.

You can rely on a single individual resolving a dispute or do it in a trustless, decentralized, crypto manner.

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I need to apologize if you are in the "toxic maxi" camp - hyperbitcoinisation, world reserve currency, the only blockchain out there.

Sorry not sorry, I think that Ethereum has much better developer experience and there are some useful projects in the space.

Yeah sure, ICO bubble, 99% projects will go to zero, and yet there are a few gems with actual use cases, users, solid production code and actual game theory incentives behind having a token.

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Why token:

TLDR: Jurors have incentives to vote coherently.
The game-theory and crypto-economics are solid:
The way how the Escrow works:

Alice and Bob communicate off-chain and agree on a transaction.

Alice - seller - selling PNK, the ERC20 token native to Ethereum

Bob - buyer - Bitcoiner - buying PNK for BTC

1. Alice and Bob communicate off-chain and agree on the price, 100k PNK at 87 sat per 1 PNK

2. Alice creates a new payment. She needs the address of Bob:

3. Alice provides her BTC address

All the rest pretty simple, self-explanatory and automatic. The funds (100k PNK) are stored securely in escrow.
  • Once Alice receives BTC she can release the payment.
  • If Bob pays but Alice does not release, then the jurors step in.

You can also use Kovan testnet between two accounts that belong to you, to test drive the thing.

To a certain extent yes.

Adoption. Usability. Real-life use cases. Something you can make us of Today!

I hope this message is balanced. Not shilling too much while presenting some useful functions in a trustless manner.

Here is a lot of shilling LOL:

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There were multiple bug bounties, just search for yourself "kleros escrow bounty"

The dispute resolution part has been battle-tested:
  • ~150 cases
  • ~200 jurors
  • ~$0.5m in deposits and fees

3 independent Kleros explorers

1️⃣ Oldest, most established:
1️⃣ Source:

2️⃣ Source:

3️⃣ Kleros explorer:
3️⃣ Source:

Don’t trust verify

If you are reasonably confident it’s not a scam - try with a small amount first... I'm not a doctor, not a lawyer, not your tax advisor, not a dog...

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Bonus feature:

I was trying things out and you can waive or release part of the payment.

I was testing on some minuscule amounts to see how things work but you should get an idea.

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