March 2018
Beginner to intermediate
656 pages
20h 9m
English
Content preview from Mastering Blockchain - Second Edition
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State channels
This is another approach proposed for speeding up the transaction on a blockchain network. The basic idea is to use side channels for state updating and processing transactions off the main chain; once the state is finalized, it is written back to the main chain, thus offloading the time-consuming operations from the main blockchain.
State channels work by performing the following three steps:
- First, a part of the blockchain state is locked under a smart contract, ensuring the agreement and business logic between participants.
- Now off-chain transaction processing and interaction is started between the participants that update the state only between themselves for now. In this step, almost any number of transactions can be ...
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