Bitcoin History Part 23: The First BTC Escrow

Before the emergence of crypto exchanges and trustless multi-sig, early bitcoiners saw the need for an escrow service – a mediator to act as a go-between for strangers transacting online. Given the panoply of options now available, it is strange to think that escrow was once provided by a few early supporters, who put their reputation on the line to give buyer and seller the protection they desired. So, how did the first bitcoin escrow service come about?

Also read: Bitcoin History Part 22: The New Wealthy Elite

“Bitcoin Escrow?”

2010 was a watershed year for Bitcoin. Back then, when it was still possible to mine the currency on a humble home computer, we witnessed the first block size debate; bitcoin acquired its famous logo; Laszlo Hanyecz purchased a couple of pizzas with the currency; the first mining pool, Slush, was announced; and Satoshi observed that Wikileaks had “kicked the hornet’s nest” by seeking to raise funds in the nascent…