Sprites and State Channels: Payment Networks that Go Faster Than Lightning

@inproceedings{Miller2017SpritesAS,
  title={Sprites and State Channels: Payment Networks that Go Faster Than Lightning},
  author={Andrew Miller and Iddo Bentov and Surya Bakshi and Ranjit Kumaresan and Patrick McCorry},
  booktitle={Financial Cryptography},
  year={2017}
}
Bitcoin, Ethereum and other blockchain-based cryptocurrencies, as deployed today, cannot scale for wide-spread use. A leading approach for cryptocurrency scaling is a smart contract mechanism called a payment channel which enables two mutually distrustful parties to transact efficiently (and only requires a single transaction in the blockchain to set-up). Payment channels can be linked together to form a payment network, such that payments between any two parties can (usually) be routed through… CONTINUE READING

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