State Channels for Babies, Part 2
They Grow Up So Fast
Okay, maybe this one is for toddlers.
In our last installment, we introduced the basic principles of state channels — what they are, and how they can help make blockchains more accessible. However, we skimmed over the details of how they work and where state channel research is headed.
This week, we take a deeper look at state channel architecture: how channels are opened, the differences between payment channels and state channels, and counterfactual instantiation.
We rely on terms and definitions from previous chapters, so if you haven’t already read them, take a look at our first two posts:
Without further ado, we present: