Using A Bitcoin Smart Contract To Transfer Domain Ownership

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Smart contracts are a new hype right now. Although a lot of people would automatically demeanour towards Ethereum for creation this record probable in a genuine world, it is positively probable to use a Bitcoin blockchain for this purpose as well. Transferring tenure of a domain name, for example, is only one of a many examples of how this record can change a approach we do things on a daily basis.

Also read: Finding A Bank Partner As a Bitcoin Startup

Bitcoin Smart Contracts Are Quite Powerful

TheMerkle_Transfer Domain Ownershop Bitcoin Smart Contract

When traffic with a judgment of transferring a domain name between parties, there are a few things that could presumably go wrong. For example, a seller profitable for a domain name can assign behind a supports – depending on a remuneration process used – or compensate with someone else’s account. It is unfit to determine a flawlessness of such a remuneration by any means.

The same can be pronounced for a chairman holding a domain information, as they competence never send a information after a income has been received. Solving this problem with an escrow service is possible, but

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