What is EscrowDapp?

EscrowDapp is a Web3 tool that acts as a neutral third party between buyer and seller to protect both parties from potential fraudulent actions of the other by using smart contracts on the blockchain.
When the buyer initializes an escrow transaction, the buyer’s coins/tokens are locked in a smart contract. Once the buyer confirms the seller’s obligations are fulfilled, the buyer can release funds to the seller. EscrowDapp resolves the payment priority issue in product or service agreements.