TLDR
State channels refer to the process in which users interact (send funds or change the state of smart contracts) with one another directly outside of the blockchain, or ‘off-chain’ The biggest payment channel network is Bitcoin’s Lightning network, having $9M locked on chain. The Raiden Mainnet launched in late 2018 and its aim is to become "the Lightning Network for ETH" Raiden network has 278 open channels and 78 unique accounts. On 12 August it had 4.57 WETH total network deposits, or around 860 USD.via the TL;DR App
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Written by ambire | The first DeFi wallet that combines power, security and ease of use, while being open-source & non-custodial.
