How to make escrow smart contract

mohit67890

Hi, Can you please guide me on how can I prepare an escrow account on the stellar platform.

Basically, I wanted to submit a transaction wherein buyer of a good purchase a commodity and put XLM in an escrow account and when he receives the commodity, the buyer confirms the transaction and XLM are sent to the seller's address.

mainstay

mohit67890 Hi, I'm doing some research into this area in the Stellar system. If I crack the code I'll post an example for you in the coming weeks.

Just an update: Found this article recently: https://hackernoon.com/stellar-escrow-smart-contract-development-4fb08d8267c8

jean-lux

Excellent question, I am trying to do figure out how its done too. Take a look at developer guides, but it's not very clear. Here is the link https://www.stellar.org/developers/guides/walkthroughs/stellar-smart-contracts.html

mohit67890

jean-lux I have read this page 100 times and still can't figure out what they are trying to say.
A practical example with lines of code will be more helpful.

jean-lux

Sorry for the late reply, you can use multisignatures to construct a Stellar Smart Contract. By creating a regular account with additional signers. In your case if the client recieves the commodity in question, he can authorize the transaction to release the funds in that account to the buyer. In case of a dispute, you can use the accounts' master key to resolve the issue.

For practical examples:
https://github.com/StellarCN/py-stellar-base
https://www.stellar.org/developers/guides/concepts/multi-sig.html