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Micropayment Channel
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********************
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- In this section we will learn how to build an example implementation
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+ In this section, we will learn how to build an example implementation
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of a payment channel. It uses cryptographic signatures to make
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repeated transfers of Ether between the same parties secure, instantaneous, and
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without transaction fees. For the example, we need to understand how to
@@ -17,14 +17,14 @@ Alice is the sender and Bob is the recipient.
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Alice only needs to send cryptographically signed messages off-chain
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(e.g. via email) to Bob and it is similar to writing checks.
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- Alice and Bob use signatures to authorise transactions, which is possible with smart contracts on Ethereum.
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+ Alice and Bob use signatures to authorize transactions, which is possible with smart contracts on Ethereum.
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Alice will build a simple smart contract that lets her transmit Ether, but instead of calling a function herself
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to initiate a payment, she will let Bob do that, and therefore pay the transaction fee.
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The contract will work as follows:
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1. Alice deploys the ``ReceiverPays `` contract, attaching enough Ether to cover the payments that will be made.
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- 2. Alice authorises a payment by signing a message with her private key.
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+ 2. Alice authorizes a payment by signing a message with her private key.
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3. Alice sends the cryptographically signed message to Bob. The message does not need to be kept secret
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(explained later), and the mechanism for sending it does not matter.
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4. Bob claims his payment by presenting the signed message to the smart contract, it verifies the
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Each message includes the following information:
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* The smart contract's address, used to prevent cross-contract replay attacks.
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- * The total amount of Ether that is owed the recipient so far.
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+ * The total amount of Ether that is owed to the recipient so far.
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A payment channel is closed just once, at the end of a series of transfers.
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Because of this, only one of the messages sent is redeemed. This is why
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