Simple, Safe and, Secure for everyone!
ESCRYPTO is the escrow for crypto.
It offers an innovative solution for the execution of safe and secured transactions using Blockchain technology.This solution provides the appropriate platform for buyers and sellers who wish to trade using cryptographic currencies while increasing the level of security and protection of the parties.
The company generates smart contracts combined with a technological solution called Multisig 2/3, through which each transaction is protected by three keys:
- the buyer holds one private key
- the seller holds a second key
- ESCRYPTO is the mediator that holds a third key.
While being used, ESCRYPTO protects the two parties of the transaction:
The seller sends the goods only after the buyer has made a full payment and the seller does not receive the payment until the buyer has received the goods and has the opportunity to inspect them in full according to the period of the transaction.
Multi-signature smart contracts
ESCRYPTO's payment solution leverages multi-signature transactions to enable reversible e-commerce crypto payments. ESCRYPTO acts as a trusted third party which is nominated to resolve disputes and reverse payments in case of fraud.
In addition, when everything goes well, the funds can be released with no intervention by the trust agent.
ESCRYPTO combines the power of escrow and the power of blockchain technology, to provide a solution for the execution of trustworthy, safe and secured cryptocurrency transactions.
And in case of a dispute, ESCRYPTO shall decide, activate its private key in conjunction with one of the parties, and either refund the payment to the buyer or release it to the seller.
The payment will remain locked on the blockchain deposit until two out of the three keys release it. This allows settling disputes and reversing payments using a trusted third party, ESCRYPTO.
Using multi-signature ensures that any one of the involved - the buyer, the seller and ESCRYPTO - will never have full control over the funds and cannot take them to themselves.
Secure by design
We take security very seriously and designed ESCRYPTO with a strong focus on security from the ground up. Private keys are solely managed using client-side technology and are never processed on our servers.We secure our servers using the industry's best practices and conduct security audits on a regular basis.
ESCRYPTO - Outstanding advantages
- Using multi-signature ensures that any one of the involved - the buyer, the seller and ESCRYPTO - will never have full control over the funds and cannot take them to themselves.
- It eliminates the risk of fraud by the trustee that keeps the funds on their own.
- The details of the transaction are anchored in a smart contract, reducing escrow costs.
- All actions made by the user are digitally signed to prove their authenticity and to prevent unauthorized modifications by third parties (including ESCRYPTO itself).
- Immediately, payments are transferred.