IOTA Flash Network Announced for Handling Higher Volume of Nano Payments

iota flash network

IOTA crypto coin has enjoyed excellent growth over the past few weeks, both in terms in value and supporting myriad research projects. The main vision behind Tangle, which is IOTA’s ledger protocol has been its zero fees feature and unlimited scaling. Now, the company has unveiled Flash Network which is a protocol layer that works in conjunction with the Tangle.

The IOTA’s flash network is designed to push the maximum number of transactions its network is designed to work with. This flash network will allow the system to work with much higher number of nano-payments at unbelievably higher volume.

The Flash Network will help realize full potential of the IOTA.

Paul Handy is the lead developer of the IOTA’s flash network. He explains that is a particular user wants to make payment every second for a service, both the user and recipient will have to wait for enough additional transactions to be added to the Tangle in order to validate the high volume of nano-payments that are being done per second.

The users will be able to open parallel channels with appropriate number of MIOTA so that the channels are able to encompass much higher quantities of transactions. Any transaction that is done using flash channel is confirmed instantaneously.

Then, the flash channel compresses all the transactions contained within to one, single instance of Tangle.

   

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