Escrow

Escrow without an escrow agent: the funds are locked under a covenant, and the release condition is a fact, not a decision.

  Buyer locks funds ──▶ covenant coffer
                            │
        condition met?      │        timeout?
   (proven Bitcoin payment, │   (CSV timelock)
    oracle signature, ...)  │
            │               │            │
            ▼               │            ▼
     pays the seller ◀──────┴──────▶ refunds the buyer

How it works

1. The buyer locks funds under a script with two paths.
2. Release path — proof that the agreed condition happened: a specific Bitcoin payment confirmed (TX_CONFIRMED), or a designated third party's signature over an agreed message (CSFS). A covenant template (CTV) forces the payout to the seller — the buyer cannot redirect it.
3. Refund path — a relative timelock (CSV) returns the funds if the condition never occurs.

No agent holds the money. The "escrow service" is a script that every node enforces.

Primitives: TX_CONFIRMED · CTV · CSV · CSFS