There are several companies contributing to fast-forward dApp mass adoption. Today, let me introduce our partner, Connext.Network; a tech company that’s making headway with achieving this goal in their unique way.
Connext is an infrastructure layer adaptable by other developers and companies that scales with the Ethereum blockchain. As many of you already know, the Ethereuem blockchain enables trustless/trust-minimized transactions, however, at the cost of high fees and slow confirmation time. The transaction cost makes the platform not suitable for day-to-day use cases. Connext wants to change that by providing scalability. How does Connext achieve this? Their answer is employing state channels. Instead of handling one transaction at a time directly on the blockchain, they batch several transactions into one netted transfer by signed-off blockchain commitments. Their state nodes let anyone easily open channels and route transactions to other channels in the network. In fact, many companies already run their own nodes!
Connext’s system is easy for people to try. First, Connext serves as a non-custodial layer on top of Ethereum. In other words, Connext does not hold users’ fund in any way and leaves the base Ethereum layer to retain their security and self-sovereignty qualities. Moreover, they do not take any fees from the networks. However, nodes providing packet routing and storage services within the network may collect fees.
With this tool that makes attaining scalability as easy as downloading a plug-in, there are many use cases. Contents creator can adapt the tool to make tipping and incentivizing for their contents possible with only a few lines of code. It means that they no longer require an established platform to do this. For more prominent clients like infrastructure-service providers and content broadcasters, they can accept continuous payment streams from users at an unprecedented low cost and fast speed.
We want to congratulate Connext.Network as their V 2.0 is on testnet! We would love to see more people connecting with blockchain services and dApps and make them suitable for day-to-day use cases.
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