Trustless Work
  • Welcome
    • Why Escrows Matter
    • ๐Ÿ›ค๏ธOur Journey so Far
      • ๐Ÿค”The Problem: Origins of Trustless Work
      • ๐Ÿ‘พThe team comes together
      • ๐Ÿ’กThe Solution: Escrows
      • ๐Ÿ†Key Milestones
        • ๐ŸŒ DraperU Stellar Astro Hacker House: A Pivotal Moment
        • Launching the API V1 at ETH Pura Vida Hackathon
      • ๐Ÿš€Current Programs
        • ๐ŸŒŸDraperU Embark Program
        • ๐Ÿ’ปOD Hack Campaigns
      • ๐Ÿ› ๏ธVertical Development
      • ๐Ÿ”ฎFuture Vision
  • ๐Ÿ“ŒStart Here
    • โ˜€๏ธAbout Trustless Work
      • Vision and Mission
      • Team
  • โš’๏ธUnderstanding Smart Escrows
    • ๐ŸฅธSmart Escrow Design
      • What does a Smart Escrow "look like"?
      • Roles in Trustless Work
      • Escrow Lifecycle
        • Initiation Phase
        • Funding Phase
        • Complete phase
        • Approval phase
        • Release phase
        • Dispute Resolution
    • ๐Ÿ’ตUSDC: The Stablecoin Powering Trustless Work
    • ๐ŸŒŸStellar & Soroban: The Backbone of Trustless Work
  • ๐Ÿ’ปDeveloper Resources
    • ๐Ÿš€Smart Escrow API
    • Quickstart
      • Integration Demo Project
        • Getting Started
        • Entities
        • Configuration
      • dApp locally
      • API Fundamental Code
    • API Reference
      • Introduction
      • Authentication
        • Request Api Key
      • Deploy
        • Initialize Escrow
      • Escrows
        • Schema
        • Fund Escrow
        • Get Escrow by Contract ID
        • Resolve Dispute
        • Change Milestone Status
        • Change Milestone Flag
        • Change Dispute Flag
        • Release Funds
        • Update escrow properties
      • Helpers
        • Set Trustline
        • Send Transaction
        • Get Multiple Escrow Balance
    • ๐ŸงฐEssential Tools for Developers
      • Stellar Wallets
        • Freighter Wallet
        • Albedo Wallet
        • xBull Wallet
        • Rabet Wallet
        • Lobstr Wallet
        • Hana Wallet
        • Additional Resources
        • Troubleshooting & FAQs
      • How to Get Testnet Tokens
  • ๐ŸŒUse Cases by Industry
    • Marketplaces & E-commerce
    • Grants, Bounties, and Hackathons
    • P2P Exchanges and OTC Desks
    • Security Deposits
    • Milestone-based Freelance & Contract Work
    • Crowdfunding & Pre-orders
    • DAO Treasury & Working Group Budgets
    • Education & Online Courses
    • Subscription + Performance-based Retainers
  • ๐Ÿค–Using the dApp
    • Step 1: Accessing the Trustless Work Dapp and Logging In
    • Step 2: Creating a Profile and Requesting an API Key
    • Step 3: Creating an Escrow
    • Step 4: Funding an Escrow
    • Step 5: Marking a Milestone as Done โœ…
    • Step 6: Approving the Milestone
    • Step 7: Releasing the Payment
    • Resolving Disputes
  • ๐Ÿดโ€โ˜ ๏ธCommunity
    • ๐ŸŒŽSpotlight: Kindfi
    • ๐Ÿ›ฃ๏ธRoadmap: The Journey Ahead
    • Contributor's Guide
    • ๐Ÿ“‚Open-Source Templates & Developer Tools
  • โœ’๏ธBackground & Theory
    • ๐Ÿ“˜Core Concepts & Escrow Glossary
    • ๐ŸŽ’Historical Context
      • ๐Ÿ“œEscrow History:
        • ๐Ÿ—ฟAncient to Colonial Era
        • ๐ŸฆBanking Era (19th - 20th Century)
        • ๐Ÿ’ปThe Digital Era and Online Escrow
      • โ›“๏ธBlockchain Era: Smart Escrows
  • Links
    • โš’๏ธTrustless Work dApp
    • ๐ŸŒTrustless Work Website
    • ๐Ÿ“ฃTelegram Chat
    • ๐Ÿ’ŽOnly Dust Profile
    • ๐Ÿ‘ฉโ€๐Ÿ’ปSwagger for API
    • ๐Ÿ“œGithub
  • ๐Ÿ“ขAppendices
    • Contact and Support
    • Notion for Startups
    • Meru
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  1. Welcome
  2. Our Journey so Far

The Solution: Escrows

With a great problem identified and a motivated team in place, it was time to explore the solution. Alberto presented his research and findings, laying the foundation for what would become Trustless Work.


The Core Idea

Escrows have long been a trusted mechanism for securing payments, but traditional systems are inefficient, costly, and inaccessible for smaller contracts.

๐Ÿ’ก The Insight Trustless Work introduces decentralized escrow contractsโ€”an agile, blockchain-based solution that ensures transparency, security, and fairness for all parties involved.


Escrow Benefits

Using Escrows to Mitigate Risks

  • Guarantees payment for service providers.

  • Protects clients from incomplete or subpar work.

  • Builds trust in transactions by holding funds securely until conditions are met.


Traditional Escrow Limitations

Conventional escrow systems come with significant drawbacks:

  • ๐Ÿฆ Reliance on Banks and Lawyers: Intermediaries introduce high costs and delays.

  • ๐Ÿ’ธ High Fees: Escrow services are often prohibitively expensive for smaller transactions.

  • โณ Slow Processing: Settlement times can stretch into days or weeks.


Examples of Escrows in Action

Escrow solutions are already solving critical problems in established platforms:

  • ๐Ÿ›’ eBay: Escrow mitigates risks between buyers and sellers in e-commerce.

  • ๐Ÿ’ผ Upwork: Escrow protects freelancers and clients in service-based transactions.

Trustless Work builds on this proven concept but leverages blockchain to eliminate the need for centralized intermediaries.


A Focused Approach

Our team recognized that milestone-based payments would be the best starting point, especially for clients and service providers. This targeted solution provided a clear path to:

  • Demonstrate feasibility.

  • Showcase the potential of blockchain-powered escrows.

  • Develop a scalable product.

๐ŸŽฏ The Result This focus on milestone-based payments and a clear value proposition helped us secure a spot in the Astro Hacker House program, where our journey truly began.

PreviousThe team comes togetherNextKey Milestones

Last updated 5 months ago

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