Second Layer Blockchain Scaling with State Channel Technology
Pisuth Daengthongdee (~pisuth) |
Blockchains are stateful which means that within each block the information regarding the entire state is kept. Unfortunately, this takes lots of space and it might not be always relevant. State channels are one method of dealing with these issues. They are off-chain pathways that allow two users to communicate. Each transaction performed through state channels must be signed and timestamped. When used, only the final outcome is saved to the blockchain. State channels function by helping to reduce traffic and fees by signing transactions off-chain. For example, Raiden Network is an off-chain state channel and the project is made entirely in Python.
This talk is primarily focus on the basic state channels compare to other scaling solution, demonstrate how state channel works using Python script, Raiden network introduction with focusing on installation, troubleshooting and use cases.
- Understand basic Cryptocurrency
- Understand basic Python
- Interesting in Ethereum and Bitcoin scaling solutions
- Interesting in smart contract and digital asset terminology
I'ill make an improvement on my previous PyCon Thailand slide for the talk
Pisuth turns himself into a blockchain developer with extensive skills on IoT and Chatbot since 2017. Prior that time, he was working in media industry for 8 years in Thailand experienced using Python on systems monitoring and integration. Lately, he joined Perlin network as a software developer helps them making a new DLT platform which aims to embrace next generation blockchain for mass adoption. He also won 8 blockchain competition/hackathon in the past 2 years include ETHSingapore, Binance, UNICEF and NEO and has strong passion on blockchain technology and distributed economy.