Kchannels is a new payment channel platform for Ethereum. It is non-custodial and trust-minimized, and its primary focus is on great UX. Among other things, it is well suited for commercial use-cases (think merchants and their customers).
Kchannels provides the standard payment channel features:
- fast transactions - no more waiting for blocks/confirmations; no more dealing with congestion
- low fees - no more dealing with expensive and ever-changing gas prices
- privacy - most transactions are not visible on-chain
It also has the following features:
- minimal infrastructure requirements - you don't need to install any software (even Geth)
- transaction finality - transactions are final as soon as they complete
- no special token - there is no special token anywhere in the system
- no network - we avoid all the complexity of sending transactions through a network
- no capital required to maintain channels - transactions are not bottlenecked by the need for additional funds in the system
- high scalability - Kchannels can scale horizontally to support thousands of transactions per second
Kchannels uses a powerful channel design:
- a channel can hold multiple assets (and transfer multiple assets in a transaction)
- an unattended channel can receive transactions
- fast and easy deposits/withdrawals at an open channel
- most users only need a single channel--ever--for all their needs!
Together, these features create a nice package that could open up the blockchain to lots of new (or at least known but elusive) use-cases.