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Byteball Use-a-Thon: Secure Domain Transfer with Smart Contracts

4 comments

altcoinb
40
16 days agoSteemit2 min read

Hello, i think i have a very good idea :)

Prolog:

I like sale the domain www.best-bitcoin-domain.com for 20.000$.
After two weeks i found a serious buyer.
He propose the deal:

  • He pay first 10.000$ to my bank account
  • After i receive the money i transfer the domain
  • After the successful domain transfer he pay the other 10.000$

I think this is ok and i agree.
3 days later i receive the money and i start the transfer with the domain.
The transfer is finish and i contact again the buyer, but he don't answer.
I try it more than 4 weeks, but without success…
Now i'm looking for a lawyer… :(

Problem:

If you sale or buy a domain then you must trust the other party.
Trust is good, but smart contracts are better!

Example
If you transfer a domain and the buyer don’t pay, you (the seller) have a problem.
If you pay for a domain and the seller don’t transfer, you (the buyer) have a problem.

Solution:

The solution for this problem is the platform byteball with smart contracts!

What we need:

  • Whois Oracle
  • Domain Transfer Bot
  • *Optional Web Interface

Whois Oracle
The whois oracle check the owner of domains on different whois services
and save the information in the DAG.

Note: All domains in the web have a owner and he is registered in different dns companys.
https://en.wikipedia.org/wiki/WHOIS
https://en.wikipedia.org/wiki/Domain_name
Example: http://whois.domaintools.com/nicesmile.dk

Domain Transfer Bot
Create easy domain transfer requests as readable smart contracts in chat with a bot.
The bot ask this informations:

  • the byteball adress
  • domain name
  • current owner of domain (seller)
  • new owner of domain (buyer)
  • price
  • expire date

After this information the bot check the current owner in whois oracle and create a smart contract.

Closing Words:

Now is the domain transfer business trustless!
Never again problems with this real-world problem!!
Very cheap and easy to use, maybe later with web interface!!

Thank you for reading,
and sorry for my bad english!

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