Cardano MultiParty Escrow (MPE) System Proposal

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JordanMlabs
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Cardano MultiParty Escrow (MPE) System Proposal

Expert Rating

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Overview

This proposal is for an open-source, decentralized multiparty escrow (MPE) solution on Cardano’s Extended UTxO model, aimed at secure payments through Multiparty validation. We propose a simplified approach by leveraging Cardano transactions as message equivalents, removing the need for complex cryptographic primitives. This will streamline the validator’s design while maintaining robust security. Key features include single-channel interaction per transaction and automatic prevention of double-spending by design. This design prioritizes transaction security and ease of use while providing flexibility for future enhancements, aligning with the goals of decentralization and accessibility.

RFP Guidelines

Development of a Cardano-Based MultiParty Escrow (MPE) System

Proposal Submission (4 days left)
  • Type Partner RFP
  • Total RFP Funding $40,000 USD
  • Proposals 5
  • Awarded Projects n/a
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Oct. 15, 2024

The MultiParty Escrow (MPE) smart contract is a critical component of the SingularityNET platform's integration with the Cardano blockchain. Designed to manage payment channels within SingularityNET’s Decentralized AI Platform and AI Marketplace, this contract enables secure, decentralized transactions between clients and AI service providers. By leveraging Cardano’s Extended UTxO (EUTxO) model, this solution facilitates efficient and trustworthy interactions, ensuring streamlined payments for AI services.

Proposal Description

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  • Total Milestones

    5

  • Total Budget

    $40,000 USD

  • Last Updated

    25 Nov 2024

Milestone 1 - Requirement Analysis & Formal Specification

Description

thorough research and an detailed technical specification that defines datum/redeemer types and enforces validator checks according to simplified message handling.

Deliverables

PDF of Specification

Budget

$4,800 USD

Milestone 2 - Validator Development

Description

Validators with logic for channel management and transaction-based message signing including "open" "modify" and "close" functions.

Deliverables

Public Gitlab repository of the development at https://github.com/mlabs-haskell/cardano-mpe

Budget

$14,400 USD

Milestone 3 - Proof-of-Concept Frontend Development

Description

Dev proof-of-concept frontend for escrow interactions including full functionality for testing (without final UI styling).

Deliverables

Hosted as a GitHub Pages site linked from the project's repository.

Budget

$8,000 USD

Milestone 4 - Compliance Testing

Description

Comprehensive test suite to verify compliance with specification and ensure security under different transaction conditions.

Deliverables

Folder contained in the public Gitlab repository of the development at https://github.com/mlabs-haskell/cardano-mpe. an additional document on the testing outcomes.

Budget

$8,000 USD

Milestone 5 - Deployment & Documentation

Description

Deployment on a server with documentation covering setup operation and integration details for users and developers.

Deliverables

Contained in a documents folder the Gitlab repository at https://github.com/mlabs-haskell/cardano-mpe.

Budget

$4,800 USD

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