🙂Welcome
Welcome to Our Multi-Chain Guarantor Service!
The main principle of this service is that no one can cause you harm unless they are willing to bear half of your losses
This service can create your deals with logical, clear minded people. This service can't protect you from any people who wish you harm because they are upset with you personally. Ask yourself, what reason to spend 100$ to make loss of some random person 200$ - there is no reason, except personal emotions or irrational desire to hurt somebody. So this principle use Safecryptodeal for validate deals. We support many blockchains. In each blockchain service has his own smart contract and seller and buyer interact with that smart contract. Smart contract is immutable piece of code. No one can change it, unless they can broke whole blockchain.
The whole process consists of 4 steps:
Seller create deal:
Seller initiates transaction by depositing deal volume into smart contract. This value is collateral, proof of honesty and proper quality of his products/services. If deal will completed successfully, seller receive his collateral and price for goods/services. He can directly set buyer address for deal or not. Obviously, if seller not specify buyer address - then anyone can pay for deal. Until buyer pay for deal, seller can freely withdraw funds and abort deal.
Buyer confirm purchase:
To confirm purchase buyer deposit funds/assets in token or native currency in which was created deal, in twice amount. Only twice value of deal will be accepted by smart contract. After payment is finished seller can't withdraw his collateral. And buyer can only reveal funds, but don't do this until you receive goods from seller.
Goods/services delivery:
Now, seller must send goods/services to buyer. Obviously, seller must execute all deal conditions. Buyer then has time to verify proper value of goods/services.
Buyer confirm receipt and release funds:
Ohh, first question - what for he must do this. Well ... Remember that buyer must pay twice of deal value. So, if buyer don't reveal funds he lost his collateral which, obviously, must return to him. During whole process of deal we balancing between seller and buyer losses and create proper conditions for strict them and push them to find consensus. So after reveal funds, what can do only buyer, from address which he use for purchase, seller receive his collateral+price for deal. Buyer receive his collateral in amount of deal value.
Remember, the code of our smart contracts placed on the blockchain is inevitable and immutable. No one can change rules during deal. There is no third entities for arbitrate disputes. Only seller, buyer and code.
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