escrow-bitcoin

A service to make possible escrow transactions using BTC (Bitcoin)

Create Escrow wallet

const Escrow = require("escrow-bitcoin");

// Will be used soon
var escrow;

/**
 * Create a Escrow Wallet
 * 
 * @param {Number} amount - Amount to escrow (in satoshis)
 * @param {Networks} [network=bitcore.Networks.testnet] - Network to make transaction
 * @returns {Object} (with privateKey, adress and URI to request payment)
 */
Escrow.createEscrowAddress(1200, Escrow.Networks.livenet).then(function(escrowResult){
  escrow = escrowResult;
  console.log(escrow);
  // {
  //   privateKey:  <PrivateKey: 6b5b3c47ea2c0c0dd278f0b667da441176beb31e345284dcb2fe0748cbe85969, network: livenet>,
  //   address: <Address: myqWz9x2QsQQHKQtV56PyD4Myw34igxdin, type: pubkeyhash, network: testnet>,
  //   URI: "bitcoin:mkaFycfbM3SuZ4mFJVeNjQv58a4KkYAUPk?amount=0.000012" //can be used to QRCode
  // }
});

/* ... */

Save escrow PrivateKey in a secure place, this information is necessary to make a transaction from escrow wallet. Give the address and/or URI to who need to escrow the bitcoins.

When if escrow wallet had the necessary balance (you can verify with blockchain.info API or other services), make a transaction to send Bitcoins to who need receive them.

Testnet Blockchain

Livenet Blockchain

Send a transaction

/* ... */

//Address to
var addressTo = "mkaFycfbM3SuZ4mFJVeNjQv58a4KkYAUPk"

/**
 * Make Escrow wallet send bitcoin 
 * 
 * @param {Address} escrowAddress - Address to withdraw
 * @param {PrivateKey} escrowPrivateKey - PrivateKey from Address to withdraw to sign transaction
 * @param {Address} addressTo - Address to send
 * @param {Number} amount - Amount (in satoshis)
 * @param {Networks} [network=bitcore.Networks.testnet] - Network to make transaction
 * @returns string (transaction id)
 */
new Escrow(escrow.address, escrow.privateKey, addressTo, 1200, Escrow.Networks.livenet).then(function(transactionId){
    console.log(transactionId)
    // fabb99ef2e45e71cbc8eba3de15bf5729e8b502c22c4b52af04e98c49493d65e
})

Use transactionId to verify in blockchain.info API (or other services) to see the status of the transaction (incoming BTC should appears instantly)

Testnet Blockchain

Livenet Blockchain

Next steps

• Include fee
• Improve tests
• Create a custom escrow address with JSON parameter

Contact

Tiago Marques

Co-Founder & Head of Apps Development

[email protected]