Escrow Protocol
Secure multi-party transactions with time-based duration and automated fund management. Funds can be released by the issuer or automatically returned if not released during the duration.
Key Features
Automated Release & Return
Funds can be released automatically or when the issuer decides to release during the duration. If not released, funds automatically return to the issuer at the end of the duration. No third-party intervention required.
Time-Based Duration
Each escrow has a start date and end date determined by either party. The issuer creates the escrow and sets the duration. During this period, funds are securely held in the smart contract.
Role-Based Actions
During the escrow duration, only two actions are possible: the issuer can release funds to the receiver, or the receiver can cancel the escrow. This eliminates the need for third-party arbitration or intervention.
Secure Smart Contract Holding
All funds and transactions are held securely in the smart contract during the escrow duration. The contract enforces the rules automatically, ensuring trustless and transparent transactions without intermediaries.
Code Example
$ bitregalo protocol escrow create
✓ Escrow contract initialized
✓ Duration set: 2026-01-15 to 2026-02-15
✓ Issuer: 0x3d9f...8a2c
✓ Receiver: 0x7e4b...c3f1
✓ Funds locked in smart contract
Escrow active - issuer can release, receiver can cancel ▸Escrow Flow Diagram
This diagram illustrates the complete escrow workflow from creation to completion. The flow shows the interaction between the Issuer (Entity-A) and Receiver (Entity-B) throughout the escrow duration.
Key Components:
- Start Duration: The escrow period begins when the issuer creates the contract and sets the start date.
- End Duration: The escrow automatically expires at the end date, returning funds to the issuer if not released.
- Issuer Actions: During the duration, the issuer can release funds to the receiver at any time.
- Receiver Actions: The receiver can cancel the escrow during the duration, which returns funds to the issuer.
- Smart Contract: All funds are held securely in the escrow smart contract, with automatic enforcement of rules.
Escrow Architecture
This architecture diagram provides a comprehensive overview of the Escrow Protocol's technical implementation and system design.
System Architecture:
- Shows the relationship between different components of the escrow system, including smart contract interactions, blockchain integration, and user interfaces.
- Demonstrates how the protocol ensures security, transparency, and automated execution without requiring third-party intermediaries.
- Illustrates the time-based duration mechanism and how it integrates with the blockchain to enforce escrow rules automatically.