SpeedRunEthereumChallenge #5: ๐บ A State Channel Application
๐ฃ๏ธ The Ethereum blockchain has great decentralization & security properties but these properties come at a price: transaction throughput is low, and transactions can be expensive. This makes many traditional web applications infeasible on a blockchain... or does it? State channels look to solve these problems by allowing participants to securely transact off-chain while keeping interaction with Ethereum Mainnet at a minimum.
๐ The final deliverable is deploying a simple state channel application, where users seeking a service lock collateral on-chain with a single transaction, interact with their service provider entirely off-chain, and finalize the interaction with a second on-chain transaction. Then deploy your app to a public webserver. Submit the url on SpeedRunEthereum.com !