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Counos Escrow Service

Counos Escrow Service

There are many currencies in this world. Every country has its currency according to which they have their specific coins and rupees.

Counos Coin is a crypto-coin that works within a fully unconventional and individualistic network. The coin operates a SCRYPT-based algorithm. The corroboration of the Counos Coin practicality is generated via Proof-of-work technology in the contour of a user to the user network, which is commensurate to Bitcoin. Counos Coin has a mining proportion of 21 million coins, which were elected by the cap.

At the time of inaugurating this coin to the market, a total number of 16.8 million units have been mined. A leftover amount up to the cap is accessible to be mined unconventionally. The impetus of Counos Coin is to give the highest standards from a reliability perspective for financial undertakings and payments intercontinentally.

Counos Escrow:

The management and performance of this ministration are carried out by Counos OÜ. This company is registered in the country of Estonia and has amassed all the important allows for operation.

Counos Escrow is very utilitarian when a big amount of money is intricate; for example, when someone wants to sell his/her goods or services but is unenthusiastic to convey before making sure of payment being made, and on the other side when someone wants to buy services and is also grudging to make the payment before making sure of pronouncement. Counos Escrow gives online payment services using cryptocurrencies like Counos Coin (CCA).

Counos Escrow Service:

While one of the main characteristics of cryptocurrencies is the purveying of the users’ seclusion, there is a stumbling block to the seclusion concept, payments in these networks are irrefutable and irremediable once executed.

Counos Escrow Services aim to give the users with a top-level of a pledge for the manage payments to be secured against any delinquency and the crypto boon to be safeguarded from any expropriation and embezzlement.

Escrow is the form of a financial instrument that is held by a third party on account of the grantor and handed over to the grantee of such pecuniary instruments only upon the predicted of the contractual commitment entered by and between two parties oversee a business negotiation.

In other words, the Escrow is a third party that is taking over the role of a warrantor for another third party. The Escrow Agent safeguards the strength of each party. The Agent dominance to check that the contractual obligations and fidelity have been satisfactorily fulfilled in accordance with the instructions received.

Effective use of our Escrow Services, the users are preserved from any delinquency from another party. Our service is wholly limited to the Escrow of cryptocurrencies. By using our Escrow Services, you are capable to summon parties into a transaction, make a legal unalterable contract and execute payments via the use of Blockchain technologies.

Buyer, seller and the Escrow Service giver create a new shared wallet with their private keys. This new wallet, which is expanded using Multisig capability, will only permit the withdrawal of a balance subject to Escrow when at least two out of three of its creators confirm the outgoing transaction.

If the buyer and the seller come to final terms with the balance transfer, the cost will be transferred to the seller’s account without the need for a traditional and costly Escrow system.

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Three Main Roles of Counos Escrow:

The 3 Main Roles Are:

  1. Seller, who wants to sell his/her services through the escrow service.
  2. Buyer, who intends to purchase services offered by the seller who wants to sell his/her services.
  3. The escrow agent is an individualistic party admitted to the transaction, which guarantees that the contract is implemented quickly by both the seller and the buyer.

Counos Escrow differs from many existing escrow services because it gives an increased level of security through the MultiSig wallet technology, which operates the escrow check with 3 private keys.

In other words, the goods will be sent to the buyer, and the money will be sent to the seller, who wants to sell his/her goods or services only after the following conditions are met – all three signatures are taken: from the buyer, seller, and the escrow agent. This is a wholly new level of saved deals given by unparalleled security of Counos Escrow.

Read Also: Short Terms Loan In Canada

Also Read: Canada Criminal Code And Short Term Loan

 

About Nimra

Nimra is a University Going Student and has a creative mind. She is a Content Writer and Website Designer. She has written content for different Companies. [email protected]

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