Twitter : @kranirudha
Open transparent distributed database
Any application that can operate across more than one network.
State channels utilize multisig contracts to enable participants to transact quickly and freely off-chain, then settle finality with Mainnet. This minimizes network congestion, fees, and delays. The two types of channels are currently state channels and payment channels.
A sidechain is an independent EVM-compatible blockchain which runs in parallel to Mainnet. These are compatible with Ethereum via two-way bridges, and run under their own chosen rules of consensus, and block parameters.
Rollups perform transaction execution outside layer 1 and then the data is posted to layer 1 where consensus is reached. As transaction data is included in layer 1 blocks, this allows rollups to be secured by native Ethereum security.
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