Introduction
Alrightโescrow for everyone.
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Alrightโescrow for everyone.
Last updated
Was this helpful?
When you make a traditional security deposit on something, you're effectively putting some money down to guarantee that you'll take good care with a transaction. You get that deposit back when the deal is successfully completed.
Decentralized escrow collateral works pretty much the same way, except both parties put in some collateral.
When a deal is locked in with both of your security deposits, both people involved now have strong incentives to complete the deal in good faith. Only when you both agree to unlock the escrow are the security deposits returned, so both parties will want to act honestly and get their collateral back.
To make your first deal with Alright, start here: