About UDAP State Channels Service
One of the greatest problems with blockchain today is its poor scalability, which is stopping blockchain to be accepted in the mainstream. One of the solution is State Channel. State channels service, to allow applications to conduct transactions mostly offline and secured by public blockchains, such as Ethereum.
What is State Channel？
Let’s use the perfect definition of State Channels by Jeff Coleman
The basic components of a state channel are very simple:
- Part of the blockchain state is locked via multisignature or some sort of smart contract, so that a specific set of participants must completely agree with each other to update it.
- Participants update the state amongst themselves by constructing and signing transactions that could be submitted to the blockchain, but instead are merely held onto for now. Each new update “trumps” previous updates.
- Finally, participants submit the state back to the blockchain, which closes the state channel and unlocks the state again (usually in a different configuration than it started with). A typical Internet application is composed of multiple user account which contains the user assets defined in the scope of the application. The state channels terms, those accounts are state channels. An application’s state is the sum of each user/app state channels.
UDAP does not try to be a generic State Channels framework, like counterfactual or Perun. Instead, UDAP is an implementation of State Channels that are tailored to the applications that deal with nonfungible assets. UDAP provides a set of enforcible contract templates that can be deployed on demand, such as contracts that covers “buy”, “swap”, “split”, “rent” and “pledge”. We also provides templates for state channels in a hub-spoke topology, which is the majority of application model.
UDAP implements state channel technology to solve some of the most challenging issues with developing and running Blockchain-based applications:
- Scalability: blockchains only can do that much of scalability because it needs to balance between factors of decentralized security, data liveness and finality. Using blockchain blindly as a data store and generic computing platform would not scale. State channel technology treat blockchains as the dispute adjudication layer, or court system that usually is not involved in the minute-by-minute operations, but only plays its role when contracts need to be enforced and critical assets need to be secured.
- Cost: blockchain transactions are expensive, many thousands times more expensive than centralized architectures. State channel allows transactions to run locally off blockchains, thus carries a cost model comparable to traditional Internet applications.
- Privacy: data on public blockchains is public by definition and open to any curious eyes. Some applications may choose to keep the transactions in private unless the users choose to go to public blockchains for higher level of assurance and interoperability. Even in the case of going to blockchain, UDAP provides technology to let users control the visibility of their assets.
- Responsiveness: dApps as most people have experience with are slow-paced and usually are an order of magnitude slower than the commercial Internet applications that people have been used to. State channels would enable blockchain supported applications to offer best possible UX together with unique features of decentralized ledgers.
Many business on blockchain will benefit from state channel technology and UDAP has implemented state channel service to its in-house developed Dapp — Umedia. UMedia is marketplace for musics, it requires a cheaper solution since each music is comparable cheap. State channel is a perfect solution for those kind of application. UDAP provides a wide range of state channel services to other business like ticketing, gaming, etc.
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