Quote from: bL4nkcode on November 09, 2021, 01:30:26 PM

Smart contract is a thing now, it might be good for some or most transactions as a third party escrow but there are some things it cannot do. So make sure to put details/about/list of transactions that it cannot secures since a dispute is inevitable

While using smart contract escrow is not so often as people much prefer the traditional, it's just how you can promote/market that app/software to the community, I'm sure people will use if it benefits them most.

Thank you for your feedback.

Quote from: vv181 on November 09, 2021, 01:54:33 PM

To be solely relying on a smart contract to meet the transacting party agreement could become tricky. It also limitate only on what specific conditions could be designed within the smart contract as for the escrow.

I don't know if there are exists in-development or trustable decentralized escrow, at least it never get mainstream attention within the crypto space. I think the reason it never gets discussed is that it is only limited to a very specific condition, thus I believe it won't scale broadly.

Thank you for your answer, but could you please elaborate on it? What conditions do you think a decentralized escrow could not potentially have that would keep it from being used broadly? Your detailed answer is very appreciated.

Quote from: Bitcoin_Arena on November 09, 2021, 10:01:19 PM

Depends on the kind of marketplace you want the escrow to deal with, but I think we already have one example of such a platform though it's limited to only 5 assets (Ethereum, Bitcoin, Litecoin, Dash, Bitcoincash)

The platform was initially known was localethereum and the escrow is based on smart contracts. It's not custodial like localbitcoins. You can even export your addresses to other wallets using private keys.

Thank you. I will definitely check the localethereum out.

Quote from: makishart on November 09, 2021, 11:12:44 PM

Quote from: wRelic on November 09, 2021, 12:11:23 PM

If there isn't would you use it if I made one? Image creating escrow smart contacts as per your conditions, neither seller nor buyer wouldn't need to trust each other as well as to pay a fee to third-party escrow service providers (of course creating a smart contract costs money but when chosen the right smart contracts platform you could lower it to a minimum).

Or, kindly recommend one you already are using. Thanks.

I never heard any escrow platform that was using smartcontract for that thing. The question is how reliable the code that implemented in the smartcontract? How can we trust the developer for this? If the smartcontract was not getting any audit and there will always be possibility for back door to be implemented in the contract.
Seller and buyer didn't need to trust each other but they need to trust the code that already deployed. This is the main concern.

This is very good feedback. Thank you for taking the time.

Anyone who deals with escrow services, please drop your feedback on what features would an ideal decentralized escrow need to have and what would it take for you to trust and use it on regular basis. Every opinion is appreciated. Thanks.

wRelic

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