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To increase the transaction throughput of the Bitcoin system, it is not feasible to broadcast a large number of transactions directly on the chain. The throughput is limited. The solution is to compress the transactions. In the micro-payment application scenario, if a large number of micro-payment transactions will be carried out between the two parties, it is not absolutely necessary to put all these micro-payment transactions on the chain. In fact, those intermediate states do not need to be on the chain, as long as all the micro-payment transactions are finally on the chain. The final state of the payment transaction can be chained, because even if all micropayment transactions are chained, the final state is still the final state. Therefore, under the chain, a large amount of micropayment transaction status information is recorded, while on the chain, only the creation state and the final state are uploaded to the chain. Compress a large number of micropayment transactions into a small number of on-chain transactions. This greatly improves transaction throughput. The brief summary is: put a large number of transactions outside the Bitcoin blockchain, and only put the key links on the chain for confirmation.
Doesn't this then defeat the entire purpose of the blockchain?
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