Download PDFOpen PDF in browserA Decentralised Escrow Protocol for Enabling Secure Transactions between Trustless Parties11 pages•Published: August 6, 2024AbstractThis study has proposed a new transaction method for people, who don't trust one another to sendsecure money by using a decentralized escrow technology. The proposed protocol takes an escrow, a third-party smart contract to receive tokens before a transaction get completed. The tokens will be released by the escrow upon fulfillment of the payment requirements. Delivering the agreedupon commodity or service and paying the associated payment are the obligations of each party to perform a transaction. It should not be possible for one side to pull out a bargain at the cost of the other. The Escrow may be provided with the necessary information by using the oracle pattern if the conditions of payment are contingent on external data, such as the time of product shipment. Once a smart contract's code is recorded on the blockchain, it cannot be changed. This guarantees the safety of the escrow feature. Keyphrases: accountable, blockchain, decentralized, escrow, smart contracts, transparent In: Rajakumar G (editor). Proceedings of 6th International Conference on Smart Systems and Inventive Technology, vol 19, pages 365-375.
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