What are IOTA Flash Channels?

Flash channels are the IOTA version of Bitcoin’s Lightning Network or Ethereum’s Raiden. Lewis Friberg, developer at the IOTA Foundation defines flash as a bidirectional off-Tangle payment channel that enables instantaneous high-throughput transactions. The IOTA Tangle corresponds to the blockchain of Bitcoin.

The promise of flash channels is to enable instant and feeless transaction. This is possible because only two transactions takes place on the main IOTA-network are the opening and the closing of a flash channel.

Here is a demo that shows how it works:

Check out the WINiota demo by clicking on the link below:

For more info on the project:

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