Instant payment solution for Ethereum blockchain

The client

Confidential

Challenges

The fundamental challenge was to overcome the inherent transaction speed limitations of the Ethereum blockchain (approx. 10-15 transactions per second). The goal was to create a solution that would enable instant token payments and viable micropayments, which are not feasible on the main Ethereum layer due to speed and cost.

Solution

Superscript Systems researched, designed, and developed a custom solution based on the Layer 2 Ethereum State Channels concept. This involved both blockchain development to implement the state channels and backend development to create an asynchronous API to support the off-chain payment solution.

Results

A solution was successfully designed and implemented that enables instant token payments. The system effectively bypasses the inherent performance limitations of the Ethereum blockchain, making fast, low-cost micropayments possible.

Technology Stack

Python

Solidity

AWS

Ethereum