To make the Bitcoin network more throughput-scalable.
To avoid the necessity of trusting a centralized banking system.
Teechain introduces micro-payment channels between two nodes via untrusted intermediary relays that do not modify the underlying consensus protocols. Value transfers are kept “off-chain” as local sequences of mutually-agreed balance-state updates, not confirmed as normal transactions. They cannot be spent until the “closure” of the channel, when only the most recent commitment transactions are broadcast to be mined by the blockchain network.
Consensus mechanism used
- Side-chain network
Focus point commentary indicating the value of the case study in relation with learning modules
Learning Modules Focus Points
Consensus Presents a use case of a side-chain network
- The need to provide a proof of events occurring on the side-chain.
- Lightning Network.
- J. Lind, I. Eyal, F. Kelbert, O. Naor, P. Pietzuch, and E. G. Sirer, “Teechain: Scalable blockchain payments using trusted execution environments,” arXiv:1707.05454, 2017.
- Website: https://www.teechain.network/.