Ethereum escrow token

This gives both buyer and seller confidence that they won't be cheated during the exchange. Let's code a very simple contract now. The seller must be defined as payable because they will actually receive Ether in the end. It's payable so it receives ether. Only the buyer can call it and it can only be called when there are no funds already in the escrow. Once called we set the current state to "Awaiting Delivery". In escrow-contract, should implemented internal constraint logic such as period, maximum investors, etc.

The buyer-contract and seller-contract should not have constraint rules. Let's discuss the following functions. It means constraint rules might not be changed forever might be changed after being created for the market exchange rate. Seller's token ownership balance will be transferred to escrow-contract and the escrow balance will be Seller: amount, Buyer: 0. The seller can call this function multiple times depending on implementation, but preferred just one time.

The escrow balance will be Seller: amount x exchange-rate, Buyer: amount. The Buyer: the amount will be used for the refund process. The buyer can call this function in the running state only. In the state of failure or success, could not be a success. The escrow balances of seller and buyer will be updated reverse way of escrowFund escrowWithdraw Buyers and sellers can withdraw tokens from the escrow account to their own account. The following processes are recommended.

Buyer can withdraw in escrow-success state only. Ownership of seller tokens can be transferred to the buyer from escrow-contract. In an escrow-failed state, the buyer should call escrowRefund function. When the seller calls this function in the escrow-success state, remained seller token will be transferred to the seller, and earned buyer's token will be also transferred from escrow-account.

In the case of escrow-failed, the seller only gets a refund seller token.

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To register an account, please visit the IITO wallet. What is the expected ROI? Due to the nature of the business and differences between the investment goals we can achieve, the ROI may vary. For now, you can take a look at our business model where we have analyzed the perspectives. You can find bussiness model here. When is the start of the IITO? Where can I find the Smart Contract code? Joining the investors board is open to all countries with some exceptions.

These exceptions lay within the regulations that are present in some jurisdictions, like the US. We encourage our investors to be prudent with their decisions so not to create legal disputes. Can I buy tokens in fractions? After the IITO the token will be listed on cryptocurrency exchanges. Why should I verify? What will EscrowBlock Foundation do with the information? What if I do not verify? We believe that investors that expect EscrowBlock Foundation to succeed will not consider the verification a burden.

Will my data be protected? Our website is scanned on a regular basis for security issues and known vulnerabilities in order to make your visit to our site as safe as possible. We use regular Malware Scanning. Your personal information is contained behind secured networks and is only accessible by a limited number of persons who have special access rights to such systems, and are required to keep the information confidential.

We implement a variety of security measures for all types of data transactions to maintain the safety of users' personal information. All transactions are processed through a gateway provider and are not processed or stored on our servers. Issue of tokens can be made only at the address of sale 0xfb50ee8ff9eecaeebf.

The mechanism for ex-works and refunds, when the minimum amount is not reached, is included in the Smart Contract and limits the withdrawal of funds from the sale purse until the minimum amount of 40 ETH is reached in one year. The release events of tokens can be of two types - by sending ETH directly to the purse address or issuing by the ESCB command when receiving payments using plastic cards or bank transfers.

All release events for tokens are visible at the sales address Sales address. At the event of issuing tokens when paying by plastic cards or by bank transfer to the Smart Contract, generates an event with an identifier in the third-party system so that auditors can verify the honesty of issuing each token. If the minimum amount is not collected in one year, then the ESCB team transfers the Smart contract to the refund status. Each IITO participant can withdraw the funds sent regardless of time by executing the smart contract method.

The aim is to reduce the complexity for the buyer, while still keeping the burden relatively low on the seller. How it works To create an escrow request, follow these steps: Call the create method for setup Transfer the tokens to the escrow contract After this point, the recipient can make a simple Ether transfer to get the tokens released to his address.

The buyer pays all the fees including gas. Example usage Seller or Buyer or a third-party: Deploy the escrow smart contract I do not have this deployed publicly. Follow the usual guides on how to deploy. Excess is sent back.

Seller: Transfer the tokens Transfer the tokens by the usual means when interacting with tokens. You can also use the new Ethereum-Wallet see the reddit announcement to do it.