Escrow Agree

Decentralized Escrow Service

Basic V1:

• Escrow Creation: Buyer locks funds into escrow contract and specifies a seller and arbitrator (will be kept as a simple address for now).
• Comfirmation: Buyer releases funds to the seller if the transaction is successful.
• Dispute: Either party can flag a dispute.
• Mock Arbitration: Arbitrator address resolves dispute by calling a function (release funds to buyer or seller). Will use random outcome to simulate decision for V1.

How it works 📄

1. Escrow Creation - buyer creates an escrow by calling createEscrow with seller's address, arbitrator's address, and amount in msg.value.
2. Releasing Funds - buyer can call releaseFunds to transfer funds to the seller if no disputes are flagged.
3. Raising a Dispute - either party can call raiseDispute which will pause the transaction and move to a dispute state.
4. Mock Arbitration - arbitrator resolves disputes by calling resolveDispute. A releaseToSeller bool will determine who gets the funds.

Test Coverage 📊

File	% Lines	% Statements	% Branches	% Funcs
src/EscrowContract.sol	🟩 100.00% (34/34)	🟩 100.00% (37/37)	🟩 100.00% (16/16)	🟩 100.00% (8/8)
Total	🟩 100.00% (34/34)	🟩 100.00% (37/37)	🟩 100.00% (16/16)	🟩 100.00% (8/8)

V2 Ideas 🛠️

• Timeout Mechanism: Automatically refund the funds if the buyer doesn't act in a set amount of time.
• Oracles: Verify external conditions (courier API?).
• Off-chain Agreements for Legal Enforceability: hashed documents stored on IPFS.
• Actual Arbitration: Implement Kleros - a blockchain dispute resolution layer.
• Decentralised Identity System: Verify users to increase credibility.
• Multi-Sig Escrow: Hold funds in a milti-sig wallet requiring two of three parties to approve fund release.
• Fees/Monetisation: Charge a percentage of escrowed amount or offer tiered services for premium arbitration options.