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Payment channels permit off-ledger checkpoints of XRP payments flowing in a single direction. A channel sequesters the owner's XRP in its own ledger entry. The owner can authorize the recipient to claim up to a give balance by giving the receiver a signed message (off-ledger). The recipient can use this signed message to claim any unpaid balance while the channel remains open. The owner can top off the line as needed. If the channel has not paid out all its funds, the owner must wait out a delay to close the channel to give the recipient a chance to supply any claims. The recipient can close the channel at any time. Any transaction that touches the channel after the expiration time will close the channel. The total amount paid increases monotonically as newer claims are issued. When the channel is closed any remaining balance is returned to the owner. Channels are intended to permit intermittent off-ledger settlement of ILP trust lines as balances get substantial. For bidirectional channels, a payment channel can be used in each direction.