🔸On-Chain Escrow

The Nexbox OnChain Escrow service, which allows reversible transactions and thereby offers an unprecedented level of comfort and trustless safety in routine crypto transfers and transactions, was the first pillar of Nexbox technology we drove into the ground and established as something that is here to stay.

Millions, if not billions, of dollars, have accidentally been sent to the wrong location after being written incorrectly or copied incorrectly, possibly causing serious harm following a simple oversight. This sort of thing happens from time to time and is very normal. Nexbox was established with a mission to stop this.

Since then, a lot has occurred and circumstances have changed drastically. For a game-changing improvement in safety, we are now aiming to significantly expand the capability of our On-Chain Escrow and entirely redo the underlying logic.

The future Nexbox On-Chain Escrow v2 won't need users to put their funds within a smart contract and will instead conduct all transactions from wallet to wallet: Users prevent any chance of malicious smart contract exploitation by keeping tokens in their wallets until the transaction is completed or terminated.

We at Nexbox unanimously believe that closing a potential attack vector is always a good idea, regardless of how much this approach provides user freedom by allowing them to handle tokens at their discretion until transactions are complete, despite how secure and well audited our core service already is.