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I just noticed that, after accepting a trade to buy BTC for fiat, Bisq says:

Deposit transaction has been published. You need to wait for at least one blockchain confirmation before starting the payment.

I don't understand what any of that means. Before starting the trade, I pre-topped up my Bisq wallet with BTC for the security deposit, and it has (and had) six confirmations before I clicked "accept". So this text can't very well have anything to do with that.

I want to make clear that I have no practical problem using Bisq, and have used it many times in the past. I'm just wondering what they mean by that text, and whether Bisq actually uses the Bitcoin blockchain somehow. Maybe it's using automated "smart contracts"?

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When fulfilling a trade the BTC seller deposit the coins in a multisig script with 2 keys, one controlled by them and one by the buyer.
When the BTC seller acknowledge the reception of the fiat payment, they release the coin to a script only controlled by the buyer.

This mechanism, as well as a number of others (see the documentation for details), aims to disincentivize fraud.

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