Interstellar has launched a pilot version of its ofChina Starlight

0

Interstellar has launched a pilot version of its ofChina Starlight

Startup Interstellar presented the pilot version of its ofChina Starlight, opening the possibility of using bilateral payment channels in the blockchain Stellar.

As explained by the developer Dan Robinson, representing the solution in his blog, the usual transaction is in Stellar, as in other networks, requires publication of details in open for all mode, and pay a small Commission and some waiting period necessary to achieve consensus in the network and confirm the payment.

The content of a payment channel that it “freezes” some portion of the funds for its users. That is, the payment is actually carried out offline and, therefore, is much faster, characterized by greater degree of privacy and does not require the payment of a fee.

Until payment channel operates, the details of the transaction published in the blockchain — it occurs only after the channel is closed. However, even after the closure of the channel in the network will be available only to final calculation — all current activity in the channel remains known only to its users.

According to Robinson, the counterpart of Starlight are payment channels Lightning Network, ofcan Bitcoin. Stellar plans to achieve compatibility with other Starlight ofcan solutions, such as Lightning Network and Interledger.

Note that the essence of ofcan-solutions — almost complete the transactions outside of the blockchain. The calculations are carried out in accordance with the internal rules of a particular ofChina where there is centralized management, and its approach to openness and anonymity of transactions.

Icani, of course, are a compromise from the point of view, convinced of cryptoanalysts, however, forced a compromise. Lightning Network has emerged as a necessary measure, after and in result of that transaction inside the Bitcoin network became too expensive and slow.

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.