Payfair, A decentralized escrow service

In every aspects of life, since the introduction of blockchain technology and emergence of cryoti currency; we have all faced troubles, challenges and difficulties when it comes to needing a third party to secure a transaction. With alot of fraudulent activities and stories surrounding frauds in crypto currency, it is becoming paramount to sought out for a reliable escrow service (Escrow service is an agreement with a third party which regulates a transaction between 2 parties; a buyer and a seller) which would be trustworthy, transparent and easy to use. But none has been forth coming for a decade now; Due to the persistent growth in blockchain technology, i want to present to us all PAYFAIR.

What is Payfair?

PayFair is a decentralized Escrow platform aimed at ensuring the paramount security of all crypto currency transactions made between two bodies (seller and buyer or contractor). Payfair will escrow for transactions that include crypto currency swaps, FIAT, services and digital and physical goods. It is going to be achieved by the availability of the PayFair token (PFR), which is an ERC-20 token based on the Ethereum blockchain. The Payfair (PFR) tokens create a network of “Nodes” that create a decentralized environment.

Payfair is bring to us in a decentralized world a platform that elimates lack of trust between buyers and sellers, a platform that charges a considerably lower escrow charges, a platform that eliminate any opputunity for fraud or cheat.

But one would wonder how the platform would work and its quite an easy to use platform with basic fundamentals such as

• The fee: A payment charge which is made by the buyer and seller using the escrow service

• Buyer and Seller: the one who needs the escrow service

• Trust Node: This is the payfair (PFR) token hodlers

• Escrow: This includes the anonymous chain of escrown notes that settles the difference

• Escrow Node: PFR token hodlers in status escrow

I want us to note that service does not only provides its platform users with the option of trading cryptocurrency on the payfair platform, but also platform users can buy and sell various services, goods e.t.c

For thorough information and spot on facts, kindly visit the links below:

Official website: https://payfair.io/
Telegram channel: https://t.me/payfair
Twitter: https://twitter.com/payfairio
GitHub: https://github.com/payfairio/pf_demo
LinkedIn: https : //www.linkedin.com/company/payfairio/
Facebook: https://www.facebook.com/Payfairio/
Whitepaper: https://payfair.io/whitepapers/full_PF.pdf
Reddit: https: // www. reddit.com/r/Payfair/
Medium: https://medium.com/@PayFair/

Author: OluwaTosin
Author Link: https://bitcointalk.org/index.php?action=profile;u=1465477

#ethereum #blockchain