Published On: Mon, Nov 27th, 2017

This New Scaling Layer Could Make Payment Channels Ten Times More Effective

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There is no disputing the fact that the Bitcoin network has scalability problems. Micropayment channels are a solution to increase the transaction rate and speed. Yet, this is not the golden solution … This micropayments solution needs a fixed amount of funds to be locked into each channel’s multisignature wallet and requires a transaction for each channel creation and closure. This hinders the Blockchain network from upscaling to a global payment system because Bitcoin’s capacity is limited.A recently published research paper by a university in Zurich suggests implementing a new layer in between the blockchain …

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