Counterfactual: Generalized State Channels

Coleman, Jeff and Horne, Liam and Xuanji, Li (2018) Counterfactual: Generalized State Channels. unknown.

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Abstract

State channels are an important technique for reducing fees for blockchain users. Within their scope of applicability, they allow users to transact with each other without paying blockchain transaction fees and with instant finality, and are the only technique that securely realises the latter property. We describe generalized state channels, a construction that allows users to install new functionality in an existing channel without touching the blockchain, using counterfactual instantiation of contracts within a channel. We present an object-oriented approach built on top of ethereum that encapsulates functionality and state in counterfactually instantiated contracts, providing numerous privacy, efficiency and security benefits over a monolithic approach, and describe a new object-oriented metachannel approach to building state channel networks. We analyze the unique security assumptions of channels and describe third-party services that channel users can benefit from using.

Item Type:	Other
Subjects:	Main Topics > Blockchain Projects > BloSSom 2019 Main Topics > Ethereum Main Topics > Privacy Main Topics > Security
Divisions:	Computer Science
Depositing User:	Unnamed user with email richard.dabels@uni-rostock.de
Date Deposited:	09 Sep 2019 15:25
Last Modified:	09 Sep 2019 15:25
URI:	http://blossom.informatik.uni-rostock.de/id/eprint/106

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