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Updated faq based on review

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Rithvik Vibhu 2021-01-19 00:37:01 +05:30 committed by GitHub
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<h3>How do I transfer ownership of a name? <h3>How do I transfer ownership of a name?
<span><footer class='footer-caret-down' src='/img/footer/down-caret.svg' alt='Toggle expanded answer on mobile'/></span> <span><footer class='footer-caret-down' src='/img/footer/down-caret.svg' alt='Toggle expanded answer on mobile'/></span>
<span class='hide'><footer class='footer-caret-up' src='/img/footer/up-caret.svg' alt='Toggle expanded answer on mobile'/></span></h3> <span class='hide'><footer class='footer-caret-up' src='/img/footer/up-caret.svg' alt='Toggle expanded answer on mobile'/></span></h3>
<span><p>If someone owns a name directly, the current owner can give the destination address/key to the new recipient. Sender creates a transaction to send the domain to receiver, and a block is mined on the blockchain. The transfer is then finalized by the sender after 288 blocks (~2 days). Transferring ownership may also have payments embedded, so the recipient will receive coins if and only if the transfer is successful. This means that users do not need to use 3rd party escrow to pay for transfer. </p></span> <span><p>The name owner sends a TRANSFER transaction to the receiver, and that transaction is confirmed in a block on the blockchain. After 288 blocks (~2 days), the name owner can send a FINALIZE transaction. Once that is confirmed, the new owner controls the name. Transferring ownership may also have payments embedded, so the recipient will receive coins if and only if the transfer is successful. This means that users do not need to use 3rd party escrow to pay for transfer.</p></span>
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