Multisig payment options....

Many people (including myself), have been speculating that the idea of marketplaces with any kind of centralized escrow system is facing impending collapse. A shift toward multisig transactions and decentralization is quickly fracturing the market landscape. I've seen a number of posts discussing 3-party multisig that incorporates some form of neutral escrow service that functions as the "third man".

Here's my question: The Electrum Bitcoin client also offers a 2-party option for multisig transactions. The vendor would provide their key immediately, and the buyer would submit their key after the product is delivered. Any thoughts about whether this would be more feasible to implement than 3-party multisig?


Comments


[2 Points] ShulginsCat:

Scenario 2-of-2 2-of-3
Initiating a transaction Only buyer+vendor required Need to also find an arbiter
Handling a dispute Arbiter must convince both parties to agree Arbiter can force an action
Buyer or vendor disappears Transaction is lost Transaction can still be completed
Arbiter and buyer/vendor are in cahoots No problem Scam is a possibility