State channels are an example of a layer two scaling solution for blockchains that are actively in development now! They’re a really interesting concept that allows for the speed of off chain transactions, with the security and decentralization of the blockchain. Bardia tells you all about it in one minute!
For more guides, videos, and content, visit us over at blockgeeks.com!
If you need a smart contract audited, or want to earn crypto auditing smart contracts, visit our sister site at bountyone.io.
State channels are an important technique for reducing fees for blockchain users. … We describe generalized state channels, a construction that allows users to install new functionality in an existing channel without touching the blockchain, using counterfactual instantiation of contracts within a channel.