Dear Hodlers,

Today we’re introducing new features at Hodl Hodl:

2 out of 2 contracts removed; Portuguese language; Layout improvements.

2 out of 2 contracts removed

When creating an offer, up until today, our customers have been able to choose which type of contract will be created with the offer: 2-out-of-2 or 2-out-of-3.

Today we removed the 2 out of 2 escrow type, therefore every contract created at Hodl Hodl will be 2 out of 3 escrow type.

About

These numbers are driving crazy, but for every contract created at Hodl Hodl, we generate a unique multisig escrow, which can require different number of keys to sign a transaction.

At Hodl Hodl, we had been using following types of escrow:

2 out of 2: Two keys to escrow exist, one belongs to the seller, one belongs to Hodl Hodl.

keys to escrow exist, one belongs to the seller, one belongs to Hodl Hodl. 2 out of 3: Three keys to escrow exist, one belongs to the seller, one belongs to the buyer, and one to Hodl Hodl.

If a dispute had occurred in contract type 2 out of 2 and the buyer won, Hodl Hodl could do nothing with the funds locked in escrow, unless seller signs the transaction.

This is the reason

why we originally introduced 2 out of 3 multisig escrow at Hodl Hodl, and to simplify things, we have completely removed the 2 out of 2 escrow type.

If you still do not understand

how Hodl Hodl works, and why escrow is necessary, here is the workflow:

Contract is created at Hodl Hodl, we generate a unique multisig escrow account for every contract. Seller deposits cryptocurrency into escrow. Buyer sends payment to seller, according to the agreed upon payment method. Seller releases cryptocurrency from escrow directly to the buyers wallet.

In case there is a disagreement between buyer and seller, and a dispute starts, Hodl Hodl’s administrator will take care of this, and resolve the dispute in either the buyers or sellers favor (if the counterparties cannot resolve the dispute by themselves — which can be done by seller releasing the crypto in favor of the buyer, which would make the contract complete normally.)

Portuguese language

Hodl Hodl continues its worldwide expansion with the addition of the Portuguese language to the exchange.

The most important parts of the exchange have been translated to Portuguese, except a few pages which will be translated in the upcoming weeks.

Hodl Hodl also provides support in Portuguese. Therefore, every request sent to support@hodlhodl.com in Portuguese will be answered in Portuguese.

Telegram group specially created for the Portuguese community: https://t.me/HodlHodlPortuguese.

In the upcoming weeks we are going to add a Farsi translation to the site, with other languages to come in 2019.

Layout improvements

This is becoming a tradition, to introduce layout improvements every two weeks, and this release is no exception.

In the latest release we announced that the pages “My offers”, “My contracts” and “My Dashboard” will be updated, and we are happy to say, the update is now complete.

Next in line is the main page and header of Hodl Hodl, you will be able to see the update in the next few weeks.

Reach us

Hodl!