Stochastic
Create and manage Bitcoin backed contracts
What is Stochastic?
Stochastic is a tool that allows you to create and manage contracts backed by Bitcoin.
We use Bitcoin's multi-sig to allow you to do business with anyone in the world without having to trust the other party. Stochastic is great for selling for goods and services online.
How does it work?
The contract is broken down into 3 main stages
- Create a contract proposal, set a budget and fund the contract by depositing Bitcoin into a multi-sig wallet.
- Send your contract to potential contractors and when you have accepted a bid. You will sign a transaction to create a 2/3 multi-sig between the project owner, contractor and Stochastic.
- Upon completion of the contract, the project owner or the contractor can send an invoice by creating a transaction for the other party to sign. Upon acceptance of the invoice, the transaction is broadcasted to the Bitcoin network and the contract is completed.
Features
All contracts are backed by Bitcoin
- All proposals on Stochastic are funded by project owners depositing the contract funds into a Bitcoin multi-sig wallet.
- Contractors can now bid with confidence knowing the project is fully backed by Bitcoin, thus attracting higher quality contractors.
- Contract bids are only visible to the project owners, thus no race to the bottom.
Contracts are locked in a multi-sig wallet
- Contractors are confident that the project funds are locked away.
- Parties can settle contracts by using our invoicing system. Contracts can only be prematurely ended if both parties agree.
- Stochastic provides an escrow service between the project owner and contractor in an event of a dispute
Roadmap
This is the BETA release of Stochastic, we are looking to collect feedback from the community to help us build out the product.
Stochastic is free for a limited time for everyone.
The current product pipeline is as follows:
Expanded feature set
- Expand out our contract offerings by letting users create different types of contracts. Including contracts that leverage custom P2WSH multi-sig
- We will work with your business to create custom Bitcoin P2WSH smart contracts that are specially tailored to your needs.
Explore Stochastic
- Explore all live and public contracts on Stochastic looking for contractors.
- Create private contracts
Example contract
We have made an example contract so you can see a Stochastic contract in action.
The following example is a contract for a Freelance developer.
https://stochastic.xyz/contract/5afcd83c45d61c3b7457c7e0
About
Stochastic is a bitcoin infrastructure company incorporated in Melbourne, Australia.
Our goal is to build tools and services that leverage Bitcoin to empower people and companies so they can achieve more.
Contact
We would love to hear your comments, questions and feedback.
Email address: [email protected]
https://stochastic.xyz