Obyte Launches Contracts with Arbitration: P2P Transactions with Decentralized Escrow
Retrieved on:
Tuesday, June 13, 2023
Vaduz, Liechtenstein, June 13, 2023 (GLOBE NEWSWIRE) -- In its ongoing mission to enhance peer-to-peer (P2P) and decentralized transactions, Obyte is excited to announce the introduction of smart contracts with arbitration.
Key Points:
- Vaduz, Liechtenstein, June 13, 2023 (GLOBE NEWSWIRE) -- In its ongoing mission to enhance peer-to-peer (P2P) and decentralized transactions, Obyte is excited to announce the introduction of smart contracts with arbitration.
- These contracts offer secure decentralized escrow protection for two-party agreements, eliminating the need for mutual trust.
- By using contracts with arbitration, that risk is eliminated from the beginning, thanks to decentralized escrow and inclusion of a mutually trusted arbiter.
- From this point, the funds involved (in USDC, GBYTEs, GBB, or any other token) are locked in decentralized escrow until the contract’s conditions are met.