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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 ver
by 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 agoWait, is the implication that you are holding the contract's budgeted funds on an account that belongs to you as a 'verification?'
- Klathmon 8y agoI'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.