Technological progress

Complete the channel creation contract. The channel creation contract is the guarantee of asset security during the process of channel creation and user interaction. Specific implementation modules include multi-sig contract, commitment trading contract, and revocable delivery contract. Through depositing assets with the multi-sig, taking out the left assets from the multi-sig address, and waiting for block verification, users complete the whole process of deposit, payment and balance settlement in the state channel. Complete the channel interface with background interaction. We add an interface, which obtains background channel data and displays the real-time information accordingly. The interface will display channel name, online/offline status, balance of the two sides, transaction addresses etc . Add real-time monitoring of the information in the channel and on the chain. We guarantee the validity of transactions of both sides by acquiring the transaction information on the chain, detecting the behavior of both sides and adopting corresponding methods.

Specifically, if one transaction is going to be put on-chain, a unique txid is generated. If the detected txid on the chain is identical to that in our state channel database, this on-chain transaction is successfully confirmed, and then the corresponding action can be triggered.

The scenarios are as follows:

a. If the monitor detected a txid of the multi-sig contract, the system confirms that the assets of both parties are deposited to the multi-sign address, and then the channel transaction can be started; b. If the txid of the commitment trading contract is not the latest off-chain transaction, it means that one party cheats, so the party who submitted that transaction can be punished. c. If the txid of the commitment trading contract is identical to the latest one in the channel database, it means the settlement is successful and the balance of the two parties has been taken out. At this point, the channel can be closed.

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