On-Chain vs Traditional Escrow
Understanding the difference
🏦Traditional Escrow
- ❌ Requires trusted third party
- ❌ 3-5 days to release funds
- ❌ High fees (3-5%)
- ❌ Business hours only
- ❌ Can be manipulated
- ❌ Requires paperwork
VOLTPEER
⛓️On-Chain Escrow
- ✅ Trustless (no third party needed)
- ✅ Instant release
- ✅ Low fees (1-1.5%)
- ✅ 24/7/365 availability
- ✅ Immutable and transparent
- ✅ Fully automated
How Smart Contracts Work
The technology behind on-chain escrow
1
Seller Locks Crypto
Seller deposits crypto into the smart contract. It's locked and can't be withdrawn.
2
Buyer Sends Payment
Buyer sends fiat payment. Upload proof to the trade chat.
3
Seller Confirms
Seller confirms receiving payment and calls the 'release' function on the contract.
4
Automatic Transfer
Security Benefits
Why on-chain is safer
Immutable
Code can't be changed once deployed
Transparent
All transactions visible on blockchain
Automated
No human intervention needed