LogoLogo
  • ZENLAND DOCS
  • Getting started
    • What Is Smart Contract
    • What Is Network
    • What Is Explorer
    • What is Token
    • How Zenland works
  • FUNDAMENTALS
    • Zenland Contract
      • Contractee
      • Contractor
      • Contract Name
      • Contract Details
      • Agreed Amount
      • Contract Due Date
      • Buyer Protection Time
      • Zenland Fee
      • Zenland Fee Payer
    • Contract Chat
    • Contract Address
    • Custom Agent
    • Web3 Store
    • User Reputation
    • ZENF Token
    • Zenland Wallet
  • Contract Actions
    • What is Contract Action
    • Approve
    • Deploy
    • Transfer
    • Complete
    • Release
    • Dispute
    • Invite an Agent
    • Sync
    • Escrow user errors
  • contract states
    • What is Contract State
    • Draft State
    • Deployed State
    • Active State
    • Fulfilled State
    • Executed State
    • Disputed State
  • Smart contract types
    • Default Escrow Contract
    • Pre-Approved Contract
  • Extra
    • Tokenomics
    • Roadmap
    • Changelog
    • Contributors
Powered by GitBook
On this page

Was this helpful?

  1. Contract Actions

Transfer

PreviousDeployNextComplete

Last updated 3 years ago

Was this helpful?

Transfer action is a blockchain transaction* that sends digital currency, a.k.a. tokens, into the contract. Transfer happens only after the contract has been deployed to the blockchain, and never in reverse order.

Until the transfer is done, the (seller) does not take any action and should not proceed with the order.

By transferring the of tokens into the contract, the (buyer) activates the contract. This change to the is time-stamped and can be traced through the .

Once the contract becomes active and valid, the Contractor (seller) should start working on fulfilling the contract terms.

Because the contract is on the blockchain, it can only store cryptocurrency tokens and not fiat.

If you are new to cryptocurrency, stablecoins in particular, please refer to "".

Unlike traditional escrow services, no authority or third party has access to funds kept by the . The blockchain nodes (individual computers) supervise all contract operations and prevent unauthorized access. This ensures the contract remains unbiased and fair for both parties.

Funds that both parties agreed upon remain in the contract until the Contractor fulfills the terms and delivers the order.

Good to know

Transfers have blockchain processing fees, a.i. gas fees.

More on gas fees and why they exist can be found in "".

Contractor
agreed amount
Contractee
contract state
Contract Chat
What is Token
Zenland contract
What is Network