State Channels help the structures you build execute thousands and thousands of micro-transactions outside of the blockchain network, all the while maintaining high levels of blockchain-powered security thanks to fully-audited smart contracts.
The only concrete linkages to the blockchain network are the initiating and ending transactions. The entire process pipeline creates less of a strain on CPU processing capabilities, resulting in fewer transaction costs, and diminishes the chances of generating unneeded chain blocks.
With state channels, your solution can run an unlimited number of private, safe transactions and execute smart contracts while only paying for the cost of two - meaning that, for the effort of covering mere two transactions, you get to complete an infinite number of them.
All at lightning speed.
Using State Channels leads to the number of on-chain transactions being reduced to the bare minimum - solely those that are required to perform in order to open and close the State Channel. This approach reduced transaction costs and increased speeds which accompany the usage of the advanced æternity blockchain.
More specifically, State Channels are, in essence, a blockchain transaction scaling solution. State Channels achieve this via leveraging off-chain transaction speeds while at the same time maintaining integral levels of security that are a staple characteristic of on-chain transactions.
By utilizing State Channels, users can execute a virtually unlimited number of transactions safely while only paying the price of two — the first and the last.
Oh, and all of this — lightning quick.
There are plenty of use cases that can take great advantage of State Channels. For example the existing use cases where we use cryptocurrency as a payment for on-demand services like Pay-per-View or Pay-per-Read. In addition, other big industries like gaming and gambling can benefit from using State Channels.
Build the future of Blockchain along great minds from all around the world.
To get in touch with the amazing æcosystem community members, engage in inspiring discussions, and join forces and start developing your own æpplication on æternity — join the æternity Forum, or get in on our weekly on Discord — Jæm sessions. We look forward to hearing from you!
The æternity Crypto Foundation is very much involved with the community! It supports and promotes the open-source development of the æternity protocol and surrounding parts of the æcosystem. Focusing primarily on blockchain technology, the ACF puts a strong accent on technical excellence and user-friendly applications.
Let us know what you wish to build!
Regardless of your levels of developer aptitude, knowledge, experience, or background — all you need is a strong motivation. Learn more and connect with the next generation of open source blockchain contributors with the æUnited.
Not sure where to get Æ coins and start your æcosystem adventure? There are a lot of cool ways, like getting it via Superhero, P2P payments through wallets, doing swaps, completing bounties, or via on centralized as well as decentralized crypto exchanges.
We have you covered — check out this useful guide covering all of the ways to get Æ coins right here!