⚙️Technology

Learn how Alright's decentralized escrow is built

Code

Alright app enables people to create an escrow deal without a middleman by utilizing code that runs on the blockhain--a "smart contract." To review the contract that facilitates decentralized two-party agreements, visit the Alright contract repository on GitHub:

Design

The Alright smart contract and interface are carefully designed to maximize Algorand's capabilities, demonstrate Web3 values, and achieve several qualities:

• Safety: Deposited funds are locked only when both parties fully match on terms and deposits are in; payments and collateral are not released until both parties confirm

• Flexibility: Deposits can be recalled, requests can be rejected, payouts can be adjusted, and deals can be customized for different combinations of payments and collateral

• Convenience: All workflows are asynchronous and can be completed in any sequence with no need to coordinate actions

• Capability: Up to 32kb of supporting data can be attached to active deals directly on chain

• Scalability: Rewritten from the Hackathon prototype to now utilize box storage, the app can support unlimited users and up to 30 concurrent deals per account with no minimum balance requirement on user's accounts

• Performance: Thanks mostly to Algorand, every workflow step completes with Web2 speed as users expect

• Resilience: The Alright client works with zero dependency on a centrally-owned back end--you can download/install the app and use it forever (decentralized hosting will also be explored)