![largo 5.png](https://cdn.steemitimages.com/DQmRobKekfPPtNcL5jWBvgAaELoRdtFaH5Fv9DUdrWsQXTo/largo%205.png)

An Escrow can be said to be a financial arrangement where a third party holds and regulates payment of funds required for two parties involved in a transaction. The parties have to set out the agreement or procedure to be followed and the escrow provider would only release funds to the receiving party where there is no breach of contract and after verification or confirmation have been given by the paying party. 

Largo coin is a decentralized financial instrument that serves as a legal tender for the Largo Platform in order words, the largo coin serves as the ultimate tool to use for providing and obtaining escrow services to ensure the safety of buyers and seller’s interactions within the Largo Coin Ecosystem.

![larg.jpg](https://cdn.steemitimages.com/DQmPTEfoUdijRsCwfvSy66iKvrDQMz21F3bYnUWcebjhse5/larg.jpg)

HOW DOES THE ESCROW WORK?
Escrow are very useful in the case of a transaction where a large amount of money is involved and a certain number of obligations needs to be fulfilled before a payment is released. Escrow is also very much necessary when transactions are carried out in a location where trust is lacking between the transacting parties and when the buyer and seller process trans-border transactions.

To use the escrow services provided by Largo Platform, buyers need to register in the Platform and provide the necessary information as required by the platform. The buyer is expected to purchase a certain amount of LRG coins on open exchanges which are required to serve as the initial cost for the transaction and also a commission of 15% which is the service charge for the platform. The initial cost is frozen on the platform until the terms of the agreement are fulfilled by the seller.

The largo platform has a committee of assigned validators who oversee the escrow and the seller would be notified ones the necessary amount is credited to the registered account on the platform. The seller is expected to fulfill his part of the obligation and this would be carefully monitored by the validator as the platform has an inbuilt infrastructure that ensures transparency and follows a step by step procedure to monitor the process efficiently.

In a situation where the seller is not following the terms of the agreement, the committee of the assigned validator would carefully look into the issue and proffer a solution to ensure that the interest of the buyer is protected. The buyer has little or nothing to worry about because the platform also insure the buyer from any eventuality which may result in the loss of funds. The LRG coins which were frozen could be unfrozen for the buyer to reduce or eliminate his loss in the event that the seller does not meet up to his obligation. 


![largo 1.png](https://cdn.steemitimages.com/DQmRM6k25CpPpFCBkrFuxM3y9fvH1cMu8jEGPHfGkpnjyyC/largo%201.png)


IMPORTANCE OF THE LARGO PLATFORM
1. Largo Platform bridges the gap in a trust dependent market and ensures that transactions are carried out even when trust is lacking between both parties. 
2. Using LRG as the means of transfer would allow us to minimize cost and maximize the speed of transactions; every deal will be registered within the platform which will make it transparent for every party involved.
3. Applying for an escrow service on the Largo Platform will eliminate the dangers of dealing in a low trust environment, especially when the buyer and seller process trans-border transactions.
4. Largo will provide the functionality necessary to verify the assets of transactions, monitor validity and compliance with registered agreements and hold tracking and shipment information and details within one easy-to-use interface.

LARGO COIN SPECIFICATION

![largo 3.png](https://cdn.steemitimages.com/DQmTPbYUjgUPHdJ5J1sTyYwMLhZiV1gnjqsnLfE3D9rPPcy/largo%203.png)


CONCLUSION
The largo platform is a one-stop-shop for both escrow and insurance services. The platform does not only guarantee a seamless transaction between the transacting parties but also gives the assurance that losses would not be recorded as the buyer can regain access to the funds and sell across several cryptocurrency exchanges.

PROJECT INFORMATION
WEBSITE - https://web.largocoin.io
ANN THREAD - https://bitcointalk.org/index.php?topic=5200762
TWITTER - https://twitter.com/largocoin
FACEBOOK - https://www.facebook.com/LargoCoinPublic
MEDIUM - https://medium.com/@largocoin
REDDIT - https://www.reddit.com/r/largocoin/
TELEGRAM - https://t.me/largocoin_chat

AUTHOR’S INFORMATION
BTT USERNAME - Henrytrust
BTT PROFILE LINK - https://bitcointalk.org/index.php?action=profile;u=2642094
WALLET ADDRESS - DKnqzMfWz33i7p76NFWc2Xk2okUKzzsQVA