Entity: STATE-CHANNELS
State-channels are blockchain scaling solutions that enable the processing of multiple transactions off-chain, reducing the burden on the main blockchain.
STATE-CHANNELS
Etymology
The term 'state-channels' combines 'state' referring to the current status of a blockchain, and 'channels' which are passageways or means of access.
Definition
State-channels are blockchain scaling solutions that enable the processing of multiple transactions off-chain, reducing the burden on the main blockchain.
Historical Context
State-channels have gained prominence with the need for scalability in blockchain networks, allowing for faster and more cost-effective transactions.
Cultural Significance
State-channels play a crucial role in improving the efficiency and scalability of blockchain networks, enhancing user experience and reducing transaction costs.
Related Concepts
State-channels are related to layer-2 scaling solutions and off-chain processing in blockchain technology.
See Also
State-channels refer to a blockchain scaling solution that facilitates the processing of numerous transactions outside the main blockchain, reducing direct interactions with the main chain.