Storj and Counterparty Test Near Instantaneous Bitcoin Micropayments

[kreslik.news]

Counterparty, a platform developing an Ethereum Virtual Machine port for the Bitcoin blockchain, has combined forces with Storj, a decentralized cloud storage blockchain startup, to develop payment channel technology for use on the Counterparty network. Storj has developed the initial proof of concept to utilize such technology with Counterparty tokens.

Payment channel technology powers the upcoming Lightning Network and is meant to enable low-cost, almost instantaneous Bitcoin micropayments. In its current state, the technology will facilitate unidirectional payment channels, where Storj and other Counterparty users can stream payments in SJCX or other assets to each other.

“Payment channels allow for instant, ... (read more)