Sentences with phrase «behind payment channels»
Not exact matches
That's the big idea behind off - blockchain payment channels, an idea that harkens back to 2015, but whose time may have finally come this year.
http://ncfacanada.org/
The idea behind Lightning Network is to record their transactions off the chain in something called a payment channel.
The idea behind this on - chain upgrade would allow micropayments as a payment channel will be opened between two parties, which is recorded on the Blockchain.
That's the big idea behind off - blockchain payment channels, an idea that harkens back to 2015, but whose time may have finally come this year.
You might know him as the developer behind the Thunder Project, a proposed implementation for bitcoin payment channels based on the lightning.network.
In building this, SpankChain seems ahead of ethereum developers more broadly (like those behind Raiden or FunFair) who have been working on building useful payment channel technology for the blockchain for some time.
For example, instead of a credit card payment using traditional payment channels, behind the scenes, the payments between customer and retailer will be instantly settled using a Blockchain mechanism.