What is multi-sig escrow ?

[newIndia]

I read it somewhere, but dont understand what is it ?

[Pkofet]

I read it somewhere, but dont understand what is it ?

A m-of-n transaction means there are a total of n parties in the transaction, each with their own private key.
The transaction need to be signed with any m parties, to make it a valid transaction.

So, with a 2-of-3 setting, you can get 3 persons to be escrows, and you will have no problem even if one of them disappears.

[Acidyo]

Instead of creating a new thread you could have just asked it here in this thread: https://bitcointalk.org/index.php?topic=645750.0

It was literally 2 threads above yours.

[newIndia]

I read it somewhere, but dont understand what is it ?

A m-of-n transaction means there are a total of n parties in the transaction, each with their own private key.
The transaction need to be signed with any m parties, to make it a valid transaction.

So, with a 2-of-3 setting, you can get 3 persons to be escrows, and you will have no problem even if one of them disappears.

Thank u so much for the explanation.

Instead of creating a new thread you could have just asked it here in this thread: https://bitcointalk.org/index.php?topic=645750.0

It was literally 2 threads above yours.

Thanks for pointing out. Mu next Q has gone to this thread => https://bitcointalk.org/index.php?topic=645750.msg7266100#msg7266100 ...Lets c if I get satisfactory reply

[Pkofet]

I read it somewhere, but dont understand what is it ?

A m-of-n transaction means there are a total of n parties in the transaction, each with their own private key.
The transaction need to be signed with any m parties, to make it a valid transaction.

So, with a 2-of-3 setting, you can get 3 persons to be escrows, and you will have no problem even if one of them disappears.

Thank u so much for the explanation.

No problem. I am happy to be helpful.

[ShakyhandsBTCer]

I read it somewhere, but dont understand what is it ?

A m-of-n transaction means there are a total of n parties in the transaction, each with their own private key.
The transaction need to be signed with any m parties, to make it a valid transaction.

So, with a 2-of-3 setting, you can get 3 persons to be escrows, and you will have no problem even if one of them disappears.

For 2 - 3 you would have the buyer and seller each have one "key" and the escrow person would have one key

Ideally the transaction would go smoothly and you both sign a TX that sends the coins to the seller. If there is a dispute the escrow person will review the facts and send the coins to the buyer/seller based on the facts.