Author: ZmnSCPxj 2020-03-28 02:42:27
Published on: 2020-03-28T02:42:27+00:00
Statechains, which are an off-chain scaling solution for Bitcoin, could be enhanced with atomic swaps of multiple UTXOs, key exchange to facilitate secure communication between sender and receiver, and optional single-use seals to close old states. Statechains could operate like a federated blockchain, allowing clients to send a Bitcoin transaction to it spending one or more of the UTXOs currently instantiated inside the statechain. The update mechanism is sufficient to ensure that nobody other than the trusted statechain can prevent the publication of the latest accepted state. The same realization underlies channel factories as well. In summary, statechains can be implemented as a sort of super-transaction-cutthrough system, which is probably significantly more efficient than splitting up the value to multiple lots.
Updated on: 2023-06-14T00:20:19.696398+00:00