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# Seller first protocol
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Seller sends the first transaction.
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Both coin types must support scripts.
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1. Seller posts offer.
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- smsg from seller to network
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coin-from
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coin-to
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amount-from
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rate
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min-amount
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time-valid
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2. Buyer posts bid:
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- smsg from buyer to seller
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offerid
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amount
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proof-of-funds
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address_to_buyer
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time-valid
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3. Seller accepts bid:
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- verifies proof-of-funds
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- generates secret
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- submits initiate tx to coin-from network
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- smsg from seller to buyer
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txid
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initiatescript (includes pkhash_to_seller as the pkhash_refund)
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4. Buyer participates:
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- inspects initiate tx in coin-from network
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- submits participate tx in coin-to network
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5. Seller redeems:
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- constructs participate script
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- inspects participate tx in coin-to network
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- redeems from participate tx revealing secret
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6. Buyer redeems:
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- scans coin-to network for seller-redeem tx
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- redeems from initiate tx with revealed secret
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