Payment channels enable what are essentially instant confirmations. The Lightning Network is a generalized network of payment channels that means anyone can transact with anyone else with instant confirmations. Fees are also basically zero (and could be negative in some cases). I suggest reading about the Lightning Network, which is being built on top of Bitcoin.
RE: Hi, I'm Kyle. I've been a full-time Bitcoin writer for the past 2+ years. Now I'm trying out Steemit!