Newly released research shows that top-layer networks, usually trumpeted as the future of bitcoin and ethereum scaling, might actually be capable of more than boosting blockchain transaction volume.
The proposals, while relevant for any blockchain, however, are uniquely relevant for ethereum, the second-largest public blockchain. Touted as a ‘world computer’, its need for scaling is pronounced – with such ambitions, it needs to scale not just payments, but a richer array of smart contracts.
One new project now believes it can help with that problem.
At EDCON 2017 this week, Ledger Labs head of technology Jeff Coleman put forth a way of abstracting state channels that he believes would work for use cases beyond payments.
“Today, I want to talk about something a little more advanced,” he said, introducing his idea.
Coleman, a long-time researcher of the subject, continued:
“Initially a lot of the things people were talking about with state channels were focused around financial applications. I’m more interested in how we can take that idea bigger, and do things that are more complicated in a practical way.”
As off-chain payment channels are a multi-faceted technology, Coleman’s idea is a part of a swathe of research aimed at enhancing the top-level layer of blockchain networks. Yet,
Read more ... source: CoinDesk
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