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You're reading from  Blockchain for Business 2019

Product typeBook
Published inJan 2019
Reading LevelIntermediate
Publisher
ISBN-139781789956023
Edition1st Edition
Languages
Solidity
Tools
Ethereum
Concepts
Blockchain
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Author (1)
Peter Lipovyanov
Peter Lipovyanov
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Peter Lipovyanov

Peter Lipovyanov is an experienced investment banker and venture investor currently focusing on blockchain projects and crypto-assets. A firm believer in the potential of blockchain technology to change the world for the better by facilitating financial inclusion across the globe and improving the efficiency of financial markets and other sectors of the economy, he has been involved in several promising blockchain projects building decentralized applications. His passion for education also led him to create a bestseller online course about the fundamental principles of blockchain technology and its business applications, which is the basis for this book.
Read more about Peter Lipovyanov

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Off-chain solutions

Layer 2 solutions are built on top of the main blockchain infrastructure. They do not require changes to the base level protocol; rather, they exist simply as smart contracts that interact with off-chain software. We will learn about some of these solutions in the following sections.

Payment or state channels

Payment or state channels are one of the more established blockchain scalability solutions. The idea is to use side channels or chains for processing transactions off the main chain. Once transactions on the side chain are processed and the state of the channel is finalized, it is written back on the main blockchain, as shown in the following diagram:

In this way, a lot of the transaction processing...

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Blockchain for Business 2019
Published in: Jan 2019Publisher: ISBN-13: 9781789956023
© 2019 Packt Publishing Limited All Rights Reserved

Author (1)

author image
Peter Lipovyanov

Peter Lipovyanov is an experienced investment banker and venture investor currently focusing on blockchain projects and crypto-assets. A firm believer in the potential of blockchain technology to change the world for the better by facilitating financial inclusion across the globe and improving the efficiency of financial markets and other sectors of the economy, he has been involved in several promising blockchain projects building decentralized applications. His passion for education also led him to create a bestseller online course about the fundamental principles of blockchain technology and its business applications, which is the basis for this book.
Read more about Peter Lipovyanov

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