I want to accept Monero payments on my website with an optional escrow. I can't rely on third-party providers so I have to implement everything myself.
From what I already understand I'd have to run a minimalistic monero-node on my webserver. Using that minimalistic node I can verify payments and transactions between users.
But I have a question about how I would implement the escrow.
- First I'd have to make a new Monero address which will hold the escrow, right?
- Do I need to run a wallet for this address including the whole blockchain? Or is it enough that the address just 'exists'?
- I currently assume I can automate everything by just making calls to the minimalistic Monero node without the need to run a wallet on my server.
Steps:
- When a user makes a purchase I provide the address of the escrow instead of the address of the seller.
- I save the amount of the order in the database together with the id of the buyer and seller.
- When the escrow is successful I just make a call to the Monero node to transfer the amount of the order from my escrow-address to the address of the seller.
- If the escrow is unsuccessful I do the same but then back to the address of the buyer.
Are these steps correct?
