The idea seems quite interesting. I believe the reason we still need this is that smart contracts are too hard to be used in real life by ordinary people, right?
This one-way hold is an attempt to avoid using extra people who provide escrow, while ensuring safe shopping. Let's say the money is in the hold area and the buyer is waiting for the product to come. If the product doesn't come then the 'hold' is not released. Where does it go? Can it be withdrawn by the buyer? And what if the buyer is the scammer and attempts to get the product without paying for it? Who/what will decide who's right in such cases? Basically, that's what escrow is needed for. Trusted members are not just holders of the funds, but also the judges in cases of problems.
Could you explain how your project deals with such things?
first, thank you for interest
"This one-way hold is an attempt to avoid using extra people who provide escrow,"
yes this is the idea" 'hold' is not released. Where does it go?" -> when you sending your coins to the wrong address they are gone if you sending your coins to scammer they are gone
here the same thing
if you are not released the coins from the hold they are gone just like in any other coins no one can use them
or else the buyers could become the scammers and we want to avoid the scamming this go to both side buyer and seller.
they will stay in the scammer wallet with "hold" foreverI was thinking maybe it will go to charity, but I prefer to keep it this way,
let the scammers eat their hearth,
but because of the hold option, it will motivate the seller to be more legit
if you have other suggestion I will be more than pleased to hear thatwhile the escrow is great but sometimes when you just want to use the coins to buy things, and you just downloaded the wallet to buy something
like my girlfriend, she knows about bitcoin she know that this is a digital coin but I told her
you just download a digital wallet and you can use your coins to buy thing
and she "what digital coins" "what digital wallet"imagine what will be her reaction if I told her but in order to buy something you need to use "escrow service" i don't want people to start looking for escrow i want people to use this as a coin straightforward without the need of the third party involved
i want to simplify things for daily users like my girlfriend new to crypto because of me :-)
and i still think escrow is a good thing just trying a little bit to do something to avoid it but not in all cases sometimes you do need escrow
the project is from 2013, I created the post exactly to raise this type of question, and develop a project that answers the needs of the community in 2018 after crypto already established some blocks it's almost
5 years and we learned things like the bitcoin block size problem and many other things so, please suggest