<p>In this tutorial, we will create an Escrow contract using Solidity and deploy it to a blockchain network. This Escrow contract is designed for financial agreements, where a third party manages and oversees the payment of funds required for transactions involving two parties. By holding the funds until all agreement terms are fulfilled, the Escrow contract enhances transaction security.</p><h2>Step 1: Setting Up the Development Environment</h2><p>We will be using <a href="https://github.com/BuildBearLabs/Scaffold-Eth-2-BuildBear"><strong>Scaffold-Eth 2 x Buildbear</strong></a>&nbsp;repository that lets you create your own private Sandbox, forked for various EVM and EVM-compatible blockchain networks, with your own Token faucet and blockchain explorer.</p><p>To begin fork, clone the repository and install dependencies by using the command as follows;</p><pre><code class="language-plaintext">git clone &lt;PASTE THE URL&gt;
cd Scaffold-Eth-2-BuildBear
yarn install
</code></pre><p>Now, create your private Sandbox:</p><pre><code class="language-plaintext">yarn fork-bb
</code></pre><p>This command allows you to create a BuildBear SandBox details are stored in&nbsp;<code>packages/buildbear/sandbox.json</code></p><h2>Step 2: Writing the Escrow Smart Contract</h2><figure class="image image_resized" style="width:50%;"><img src="https://strapi.buildbear.io/uploads/carbon_4_703b98e9e9.png" alt="carbon (4).png" srcset="https://strapi.buildbear.io/uploads/thumbnail_carbon_4_703b98e9e9.png 112w,https://strapi.buildbear.io/uploads/small_carbon_4_703b98e9e9.png 358w,https://strapi.buildbear.io/uploads/medium_carbon_4_703b98e9e9.png 537w,https://strapi.buildbear.io/uploads/large_carbon_4_703b98e9e9.png 716w," sizes="100vw"></figure><h2>Step 3: Deploying the Escrow Smart Contract</h2><p>Add the Escrow contract code to the <code><strong>packages/hardhat/contracts</strong></code> folder in your Scaffold-Eth 2 x Buildbear repository. Make necessary changes to the deployment script and Deploy the contract using:</p><pre><code class="language-plaintext">yarn deploy
</code></pre><p>This command deploys smart contracts to your BuildBear Sandbox.</p><h2>Step 4: Interacting with the Escrow Contract</h2><p>Start your NextJS app to interact with the deployed contract:</p><pre><code class="language-plaintext">yarn start
</code></pre><p>Visit your app at&nbsp;<code>http://localhost:3000</code>. You can interact with your smart contract using the&nbsp;<code>Debug Contracts</code>&nbsp;page as shown below.</p><figure class="image image_resized" style="width:50%;"><img src="https://strapi.buildbear.io/uploads/Screenshot_from_2024_04_06_09_54_13_f04c2bc6f5.png" alt="Screenshot from 2024-04-06 09-54-13.png" srcset="https://strapi.buildbear.io/uploads/thumbnail_Screenshot_from_2024_04_06_09_54_13_f04c2bc6f5.png 245w,https://strapi.buildbear.io/uploads/small_Screenshot_from_2024_04_06_09_54_13_f04c2bc6f5.png 500w,https://strapi.buildbear.io/uploads/medium_Screenshot_from_2024_04_06_09_54_13_f04c2bc6f5.png 750w,https://strapi.buildbear.io/uploads/large_Screenshot_from_2024_04_06_09_54_13_f04c2bc6f5.png 1000w," sizes="100vw"></figure><h2>Testing Smart contract Functionalities:</h2><ul><li><strong>newAgreement</strong>: Creates a new agreement between Bob, Alice, and an arbitrator, preventing agreements with the same Bob and Alice addresses.</li><li><strong>deposit</strong>: Allows Bob or Alice to deposit funds for a specific agreement, checking sender and amount.</li><li><strong>refund</strong>: Permits Bob or Alice to request a refund if they've deposited funds but the agreement isn't completed.</li><li><strong>complete</strong>: Only the arbitrator can complete an agreement, transferring funds based on the specified winner (Bob or Alice) after checking deposits.</li></ul><figure class="image image_resized" style="width:50%;"><img src="https://strapi.buildbear.io/uploads/Screenshot_from_2024_04_06_09_17_51_82cbb90e25.png" alt="Screenshot from 2024-04-06 09-17-51.png" srcset="https://strapi.buildbear.io/uploads/thumbnail_Screenshot_from_2024_04_06_09_17_51_82cbb90e25.png 245w,https://strapi.buildbear.io/uploads/small_Screenshot_from_2024_04_06_09_17_51_82cbb90e25.png 500w,https://strapi.buildbear.io/uploads/medium_Screenshot_from_2024_04_06_09_17_51_82cbb90e25.png 750w,https://strapi.buildbear.io/uploads/large_Screenshot_from_2024_04_06_09_17_51_82cbb90e25.png 1000w," sizes="100vw"></figure><h1>Conclusion</h1><p>In this tutorial, we've successfully created an Escrow contract using Solidity for managing agreements, deposits, refunds, and completion. By using <strong>Scaffold-Eth 2 x Buildbear</strong>, developers can easily deploy and interact with smart contracts for testing and development purposes.</p><h1>About BuilBear:</h1><p><a href="https://www.buildbear.io/">BuildBear</a>&nbsp;is a platform tailored for DApp development and testing. Developers gain the freedom to construct a personalized Private Testnet sandbox across a variety of blockchain networks. The liberty to mint unlimited Native and ERC20 tokens, coupled with rapid transaction times on BuildBear (under 3 seconds!), enhances the DApp development lifecycle manifold. The platform comes equipped with tools designed for real-time testing and debugging, ensuring developers can keep tabs on intricate blockchain transactions with unparalleled ease.</p><p><strong>Connect with us on</strong>&nbsp;<a href="https://twitter.com/_BuildBear">Twitter</a>&nbsp;|&nbsp;<a href="https://www.linkedin.com/company/build-bear/">LinkedIn</a>&nbsp;|&nbsp;<a href="https://t.me/Web3_dApp_Developers">Telegram</a>&nbsp;|&nbsp;<a href="https://github.com/BuildBearLabs">GitHub</a></p><p>Author:&nbsp;<a href="https://www.linkedin.com/in/sanamummer/">Sana</a></p>

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In this tutorial, we will create an Escrow contract using Solidity and deploy it to an Ethereum testnet. This Escrow contract is designed for financial agreements, where a third party manages and oversees the payment of funds required for transactions involving two parties. By holding the funds until all agreement terms are fulfilled, the Escrow contract enhances transaction security.

How to Create an Escrow Smart Contract in 4 Steps

BUILDBEAR // TUTORIALS

How to Create an Escrow Smart Contract in 4 Steps

Let’s get started then, Shall we?

Let’s get started then, Shall we?

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