AppCoins News Update, or ANU for short, is a regular bi-weekly update by the AppCoins team. This week’s focus is on the AppCoins Wallet, a new wallet that implements µRaiden payments, and the international conference and exhibition called Blockchain Summit Singapore. You may expect the next ANU on the 4th July.

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Following our latest milestone, the Knuth Release, we have created a wallet to test the new payment channel integrating µRaiden technology. µRaiden supports efficient off-chain token transfers to predetermined receivers and it doesn’t rely on sidechain tech but in payment channel tech, which enables secure off-chain, fee-less and latency-less transactions. Integrating this technology into the AppCoins solution will help to create scalable and faster mobile micro-transactions to be used for in-app purchases.

To test the new payment channel simply follow these steps:

Install the AppCoins wallet, either from Aptoide or Google Play, in order to open the payment channel. Try one of the apps or games from the AppCoins bundle. After opening the channel, perform IAP transactions with AppCoins without fees.

Transaction fees will only be required when opening and closing the channel. All transactions inside the channel are performed without ETH fees. Additionally, the channel can be closed whenever one of the parts decides upon it, and the remaining APPC will automatically be sent back to the account of both parties involved. In other words, the receiver gets the tokens allocated to him and the sender gets back the tokens he didn’t spend.

At the moment, this flow is only working in the Ropsten network. In the next few days, it will be deployed in the main Ethereum network. Below you can find the payment flow using the payment channels.