Maksekanal

Maksekanal, also known as the payment channel, is a mechanism used in digital payment systems to facilitate off-chain transactions between two parties. This allows for a faster and more efficient transfer of funds without immediately recording each transaction on the main blockchain. Instead, parties open a payment channel by locking a certain amount of cryptocurrency. They can then conduct numerous transactions between themselves, updating the balance within the channel. Only when the channel is closed is the final net transaction recorded on the blockchain. This significantly reduces transaction fees and confirmation times, especially for high-frequency, low-value payments. Examples of technologies that utilize payment channels include the Lightning Network for Bitcoin and Raiden Network for Ethereum. The concept is crucial for scaling blockchain networks to handle a larger volume of transactions. The security of these channels relies on cryptographic principles and the ability of participants to broadcast the most recent state of the channel to the blockchain if a dispute arises.