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

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

A Cardano-based MPE system enabling secure, on-chain payments and flexible payment channels for AI service transactions.

  • Type Partner RFP
  • Total RFP Funding $40,000 USD
  • Proposals 7
  • Awarded Projects n/a

Overview

  • Est. Complexity

    💪 60/ 100

  • Est. Execution Time

    ⏱️ 4 Months

  • Proposal Winners

    🏆 Single

  • Max Funding / Proposal

    $40,000USD

RFP Details

CONTENTS

Short summary

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.

Main purpose

The RFP aims to implement a MultiParty Escrow (MPE) on the Cardano blockchain, designed for managing payment channels in SingularityNET’s Marketplace. This solution will facilitate secure, decentralized transactions between clients and AI service providers, utilizing Cardano’s Extended UTxO (EUTxO) model.

Nature of the partnership

We are extremely proud and happy to present our first-ever partner-RFP in Deep Funding, with our esteemed partners from Cardano's Project Catalyst!

Project Catalyst contributes 50% of the rewarded budget and will therefore also have a 50% weight in the decision of the winning proposal. We could not wish for a better partner to start this new funding method and we are confident this will not be the last! 

Long description

The proposed solution involves developing an on-chain and off-chain codebase of the Cardano-based system that replicates the functionality of the existing Solidity-based MultiParty Escrow. MultiParty Escrow handles management of the payment channels. Payment channels used for SingularityNET’s Marketplace serves as a connection between service consumer (the client) and AI service provider.

MultiParty Escrow on Cardano must enable clients to deposit tokens into payment channels and permit service providers to claim these funds on-chain through providing a verified payment signature.

Key functionality includes:

  • Token deposits with concurrent channel creation,
  • Claiming funds from payment channels with appropriate signatures that are generated on off-chain by client or daemon service,
  • Management of channel expiration, allowing clients to claim unspent funds from channel after channel expiration,
  • Extension options for channels, allowing customers to add funds or extend expiration as needed,
  • Secure handling of token transactions without relying on a global state,
  • Flexibility for service providers to have multiple concurrent payment channels.

Functional Requirements

Must Have:

  •  Fraud prevention via secure signature validation,
  • Support for only one type of token or asset class,
  • On-chain and corresponding off-chain code with implemented functionality:
    • Open channel, tied with token deposit
    • Extend channel expiration
    • Add funds to channel
    • Extend channel expiration & add funds to channel 
    • Claim funds from payment channel
    • Claim funds from payment channel & close channel
    • Close channel, when channel is expired 
    • Return remaining funds to client, when channel is closed
    • Generate signature for AI service payment (off-chain)
    • Verify signature for AI service payment

Should Have:

  • Multi-channel claims in a single transaction,
  • Token transfer logic external to the MPE script, managed off-chain,
  • Channel identification through unique Channel Tokens.

Could Have:

  • Extended multi-channel operations, allowing for complex service provider interactions with clients

 

Non-functional Requirements

  • Architecture: built to suit Cardano’s UTxO model, integrating and optimizing a channel token identification strategy,
  • Integration Requirements: capable of further integration with SingularityNET’s Marketplace and Cardano’s off-chain signing module,
  • Security: includes replay attack prevention, signature verification, and time-based validations,
  • Reliability & Performance: ensures funds are only accessible within authorized limits and efficiently handles multiple concurrent channels through leveraging Cardano blockchain model,
  • Scalability: supports future upgrades without interrupting existing channels,
  • Maintainability: designed to minimize on-chain storage needs & transaction fee,
  • Documentation: clear documentation on deploying and operating the solution on the Cardano network,
  • Code Quality: code is covered by at least 80% of unit, integration and highload tests.

Team requirements

The proposing team should demonstrate experience in Cardano blockchain development. Experience with off-chain modules for signature verification and smart contract adaptation, particularly with Solidity-to-Cardano migrations, are beneficial.

Preconditions

  • The implementation must align closely with the Cardano blockchain’s UTxO model, adapting where necessary from the current Solidity-based implementation,
  • Consideration of future upgrades for contract functionality must be incorporated to support seamless scaling and enhancements.

Main evaluation criteria

  • Alignment with Cardano’s EUTxO architecture and adaptation to SingularityNET’s requirements,
  • Taking into account Security and scalability considerations,
  • Quality of channel identification and off-chain signature handling logic, performance in managing multi-channel claims,
  • Documentation quality and ease of integration to SingularityNET’s Marketplace,
  • Provide clearly defined milestones in the proposal.

Other resources

  • This document includes the following attachments to this RFP 
    • Attachment 1: MultiParty Escrow Specification on Ethereum
    • Attachment 2: Overview of supposed Cardano architecture

RFP Status

Internal Review

Proposal submissions are complete. RFP committee will be doing internal review. Once the review is completed, the community and public will be view the full proposals and give feedback

View Proposals
7 proposals
rfp=proposal-img

USdt

  • Type Partner RFP
  • Funding Request n/a
  • RFP Guidelines Development of a Cardano-Based MultiParty Escrow (MPE) System
author-img
KeithHiggins
Nov. 23, 2024
rfp=proposal-img

Cardano MultiParty Escrow (MPE) System Proposal

  • Type Partner RFP
  • Funding Request n/a
  • RFP Guidelines Development of a Cardano-Based MultiParty Escrow (MPE) System
author-img
JordanMlabs
Nov. 20, 2024
rfp=proposal-img

TxPipe MultiParty Escrow

  • Type Partner RFP
  • Funding Request n/a
  • RFP Guidelines Development of a Cardano-Based MultiParty Escrow (MPE) System
author-img
Manu Gunther TxPipe
Dec. 8, 2024
rfp=proposal-img

Betcard

  • Type Partner RFP
  • Funding Request n/a
  • RFP Guidelines Development of a Cardano-Based MultiParty Escrow (MPE) System
author-img
Boussov
Dec. 3, 2024
rfp=proposal-img

Socious: Cardano MultiParty Escrow Smart Contract

  • Type Partner RFP
  • Funding Request n/a
  • RFP Guidelines Development of a Cardano-Based MultiParty Escrow (MPE) System
author-img
seirayun
Nov. 21, 2024
rfp=proposal-img

OpenSource MPE for SingularityNET

  • Type Partner RFP
  • Funding Request n/a
  • RFP Guidelines Development of a Cardano-Based MultiParty Escrow (MPE) System
author-img
Aaron Schmid
Nov. 10, 2024
rfp=proposal-img

MultiParty Escrow by GenWealth and BroClan

  • Type Partner RFP
  • Funding Request n/a
  • RFP Guidelines Development of a Cardano-Based MultiParty Escrow (MPE) System
author-img
Rafael_Cardoso
Oct. 30, 2024
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