Fasttoken Has Unveiled Its State Channels! - Bitsonline

Fasttoken Has Unveiled Its State Channels!

Have you ever tried to demystify any complicated issues about Ethereum’s blockchain? If yes, then you perfectly understand that the system faces scalability and congestion problems. Despite the fact that legitimate solutions have been used for quite a long time, the problem does not seem to be going anywhere. Now, state channels are heralded as Ethereum’s best bet for scaling.

This is a press release provided by Coinzilla.io

Fasttoken is finally here, with a new feature

Fasttoken has undergone a thorough development process in the last six months. The company launched its blockchain-based casino games at ICE London, one of the biggest events in the entire gambling world, that encompasses both the offline and online gaming ecosystems.

The Fastttoken team used the event to announce the unveiling of its state channels implementation codes. These codes are said to be perfect for developing decentralized gambling solutions.

Just like the Lightning Network and Raiden, the following crucial aspects are significantly improved by state channels:

  • Scalability – It substantially increases the number of transactions per second, to reach millions.
  • Speed – The confirmation of blockchain transactions takes some time, so state channels significantly shorten that time to milliseconds or seconds.
  • High Costs – State channels do not have gas fees, and you pay a minimal fee when updating the blockchain – and this happens on rare occasions.

Initially, the Lighting Network was designed for online transactions. Raiden, however, has a wider and more comprehensive usage. It can be used to coordinate different decentralized apps, exchanges, not to mention the IoT (Internet of Things).

No wonder state channels are the ideal option for the implementation of custom gambling solutions. They are application-specific, and programmers are allowed to use them in turn-based systems.

A game of slots can be an example of the aforementioned state channels apps, where a player bets 10 ETH and, upon winning, they get 20 ETH. Considering this, Fasttoken has created Fast Channels.

What should you expect from this awesome deal?

Fasttoken is the first team that has decided to announce the implementation of their highly reliable and affordable state channel. They are absolutely convinced that healthy competition impacts the industry positively. There are other platforms in the gambling industry that offer gambling services that run on the blockchain platform, but none of them has ever given out their state channel implementation codes.

What is the purpose of hiding blockchain codes?

On the blockchain platform, transactions are recorded on nodes, and the ledger grows. In fact, it grows at a faster rate than the number of users in the network. However, due to this exponential growth of the ledger which increases in size day by day, the computation, storage space and burden become unbearable. Because of these complications, blockchain apps become limited.

Currently, the world is at a crossroads, figuring out how to solve this menace. There are different suggested approaches, like sharding, side channels, and state channels.

According to Ethereum, native support will be introduced later this year for state channels. That will significantly improve the technology, by making it developer friendly.

As one of the veteran blockchain gaming developers, Fasttoken is renowned for offering exceptional and exemplary gaming experience. Furthermore, Fasttoken also wants to give this knowledge to others, to enhance this technology. All this is aimed at updating blockchain gaming entirely. You should expect this wave to sweep across the entire industry: it is reliable, cheaper, and better. In fact, this will give both the users and the players outstanding benefits, and they will have every reason to continue in online gambling.

For more information, visit Fasttoken’s official website, join their official Telegram Group and chat with the team or contact them directly via [email protected]. Also, to stay updated, please don’t forget to check out their GitHub page at https://github.com/BetConstruct/Fasttoken.


Image via Fasttoken

This is a sponsored press release, provided by Coinzilla. Bitsonline is not responsible for the products and or services of this company and its clients. This article contains links to third-party websites. Bitsonline is not responsible for the content on those websites.

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