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@ -405,13 +405,13 @@ the state being altered is the balance of a virtual currency.
A state channel((("payment channels", "state channels", id="payment-channel-state")))((("state channels", id="state-channel")))((("transactions", "state channels", id="transaction-state"))) is A state channel((("payment channels", "state channels", id="payment-channel-state")))((("state channels", id="state-channel")))((("transactions", "state channels", id="transaction-state"))) is
established between two parties, through a transaction that locks a established between two parties, through a transaction that locks a
shared state on the blockchain. This is called the _funding transaction_. shared state on the blockchain. This is called ((("funding transactions")))the _funding transaction_.
This single transaction must be transmitted to This single transaction must be transmitted to
the network and mined to establish the channel. In the example of a the network and mined to establish the channel. In the example of a
payment channel, the locked state is the initial balance (in currency) payment channel, the locked state is the initial balance (in currency)
of the channel. of the channel.
The two parties then exchange signed transactions, called _commitment The two parties then exchange signed transactions, ((("commitment transactions")))called _commitment
transactions_, that alter the initial state. These transactions are transactions_, that alter the initial state. These transactions are
valid transactions in that they _could_ be submitted for settlement by valid transactions in that they _could_ be submitted for settlement by
either party, but instead are held offchain by each party pending the either party, but instead are held offchain by each party pending the
@ -427,7 +427,7 @@ state that is more favorable to them than the current state. We will
examine the various mechanisms that can be used to discourage examine the various mechanisms that can be used to discourage
publication of prior states in the rest of this chapter. publication of prior states in the rest of this chapter.
Finally, the channel can be closed either cooperatively, by submitting a Finally, the channel can be closed either cooperatively, by ((("settlement transactions")))submitting a
final _settlement transaction_ to the blockchain, or unilaterally, by final _settlement transaction_ to the blockchain, or unilaterally, by
either party submitting the last commitment transaction to the either party submitting the last commitment transaction to the
blockchain. A unilateral close option is needed in case one of the blockchain. A unilateral close option is needed in case one of the