Move to Hodl Hodl: The technical perspective

  • The user’s escrow key pair is generated in the browser, and is encrypted by a payment password that every user is asked to create before starting their first contract. We only store private keys encrypted by payment passwords on our servers, so there’s no way to decrypt user’s private key without the payment password. The password is only known to the user and is never sent to or stored in the backend.
  • If the seller wins the dispute, Hodl Hodl allows him to refund the bitcoins using his payment password, and automatically signs the transaction with its key.
  • If the buyer wins the dispute, Hodl Hodl allows him to make the release from escrow to himself, using his payment password, and automatically signs the transaction with its key.
  1. Client gets raw unsigned transaction, and when the payment password is confirmed, the transaction gets signed with the decrypted user’s key right in user’s browser.
  2. Half-signed transaction is sent back to the server.
  3. Hodl Hodl signs the transaction with its key on the server side and broadcasts it.
  • If the seller wins the dispute, Hodl Hodl allows him to refund the bitcoins, paying the invoice the seller provides.
  • If the buyer wins the dispute, Hodl Hodl allows him to make the release from escrow to himself, paying the invoice the buyer provides.

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Hodl Hodl

Hodl Hodl

P2P cryptocurrency trading platform that doesn’t hold funds