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RE: Ethereum Off-chain Scaling Solutions: Raiden & GoNetwork
Hey David, long time fan here. Q: If only the balance is stored on the blockchain, does this mean there's no transparency at the detail level of each transaction? Meaning if Person A and B trading coins say 10 times between each other before the channel closes, the blockchain will not have these records except for the balance. Correct?
Yes, the record of individual transactions which occurred in the channel are not added to the Blockchain. Only the amount that is received by both parties at the close of the channel is made public when added to the Ethereum Blockchain. Furthermore, Raiden has expressed plans to enable 3rd parties to offer services to re-balance and obfuscate channel balances so that it is even harder to trace on-chain transactions to ones that took place in off-chain state channels.