LinkPal

Inspiration

With the release of Chainlink it was possible to send information in a decentralized way to Ethereum Smart Contracts. Now with that kind of technological benefit there was a way to create a P2P Trust-less way of trading Ethereum Tokens to Fiat.

What it does

Using LinkPal one can trade ETH to Fiat using payment methods such as PayPal or Revolut. Blockstack enables for the swaps to be anonymous from other users enabling privacy from any person or corporation.

How I built it

It works by creating an Agreement between two parties where the seller would initialize the contract with information such as the buyers ETH address, amount of ETH to sell(and to be escrowed in the contract), Paypal/Revolut Invoice ID, Job ID's and Chainlink's Node Addresses. Before the contract is deployed the Invoice ID is encrypted using the Buyer's and all the Node's Public Keys which can be retrieved using the target users Blockstack ID(Once the Target User has Logged in at least once onto the website). After the contract is deployed the buyer can load the contract, de-crypt the invoice ID and pay the seller with the chosen payment method PayPal/Revolut. Once paid the Buyer can trigger the verification where the nodes will take the invoice ID and decrypt it, once the decrypted they will parse the url and confirm whether or not the invoice has been paid. The nodes will send information True/False (Paid or Not) to the smart contract where it will be decided by a majority vote by the nodes if the funds should be released to the buyer or not.

Accomplishments that I'm proud of

Fully Cross-Crypto and Crypto-Fiat decentralized exchanges are a very close thing in the future. LinkPal is the first step forward in terms of achieving such goals by showcasing the power of decentralized API's, Storage and Authentication. BlockStack together with Chainlink will be at the forefront of providing storage, information and security to future Dapps.

Built With

• blockstack
• chainlink
• ethereum
• react
• solidity