Cryptos:
105
Exchanges:
10
Wallets:
108
Marketcap:
$2,240,897,442,526
Volume 24h:
$35,433,073,909
Escrow
Share on social media
What does Escrow mean in crypto terms?
Escrow refers to a contractual arrangement where a third party, called an escrow agent, holds and regulates payment of the funds required for two parties involved in a transaction. The funds or assets are kept in a secure escrow account until all contractual obligations are met, ensuring the transaction is conducted fairly and safely. In the realm of cryptocurrencies, escrow services are often used in peer-to-peer transactions, ICOs, and marketplace trades, providing a layer of security and mitigating the risk of fraud by ensuring that the funds are only released when all conditions are satisfied.
Did you find this term clearly defined?
Yes
No
Explore Other Crypto Terms
ERC-20
ERC-20 is a technical standard for implementing tokens on the Ethereum blockchain.
Read More
Cryptography
Cryptography is a fundamental branch of mathematics and computer science focused on securing communication and data.
Read More
Candlestick Chart
A candlestick chart is a visual representation used in finance to depict price movements over a specified time period for an asset such as a security, derivative, or currency.
Read More
BIP (Bitcoin Improvement Proposal)
A BIP, or Bitcoin Improvement Proposal, is a formal proposal that members of the Bitcoin community use to suggest various enhancements or improvements to the Bitcoin protocol.
Read More
Faucet
A faucet is a website or application that dispenses small amounts of cryptocurrencies for free, typically as a means of introduction to the technology.
Read More
Fork
A fork represents a significant change or divergence in a blockchain network where the chain splits into two separate paths, each governed by a different set of rules.
Read More
Soft Fork
A Soft Fork is a backward-compatible upgrade or update to a blockchain network.
Read More
Gas
Gas in the context of the Ethereum network, refers to the unit that measures the amount of computational effort required to execute operations, such as making transactions, running dApps, or executing smart contracts.
Read More