Payment Channels

Another feature of BSV is the ability for users to leverage payment channels. A payment channel is a transaction that is valid, but will not be accepted into a block until some future time and date. In the intervening period, the parties to the transaction have the freedom to publish new updates which change aspects of its contents such as data packets being shared, amounts being paid and much more, enabling innovative and highly compelling digital services to be managed within the transactions themselves. Payment channels are a ground-breaking new technology, only supported by the BSV network.

By leveraging the capabilities of payments channels on BSV, enterprises will be able to offer much more responsive arrangements to customers. For example, pay per second streaming content and VoIP communications can be built right into the payment system, allowing revenue to be captured during services provision without zero reliance on third parties.