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Example Contract: https://stochastic.xyz/contract/5afcd83c45d61c3b7457c7e0 https://stochastic.xyz/contract/5afcd83c45d61c3b7457c7e0

• realPubkey 8y ago
  So the contract is written in plain text an not even mentions who gets paid what and when. Is this system a joke? Not a single judge could decide based on this.
  • r32a_ 8y ago
    This is an example contract proposal. Contractors must login to place a bid on this contract with their public key. Real contracts on the application have very thorough proposals. This is just a proof of concept.
    • grenoire 8y ago
      Wait, is the implication that you are holding the contract's budgeted funds on an account that belongs to you as a 'verification?'
      • Klathmon 8y ago
        I'm not affiliated, and I've only taken a cursory glance at it, but it seems like a normal multi-sig escrow service. It's not an account that "belongs to them", but an account that belongs to multiple people (using multi-sig contracts) so that any single party can't decide to spend it. The idea being that if you didn't fulfil the contract, you can't take the money and run. If I didn't fulfil the contract, I can't prevent you from taking the money, and if this service goes down, the 2 of us can still decide who gets the money on our own terms without them. Basically this idea locks away money in an account "owned" by 3 people, and in order to send the money somewhere else, 2 of the 3 need to agree on where it's going.
  • Klathmon 8y ago
    That's like blaming a paper mill because someone wrote something stupid on a piece of paper. This is a service that lets you write whatever you want as your "contract". Saying the system is a joke because some people write bad contracts is stupid.