Channels consist of two components, namely,
- SDK Configurations
- Platform Deployments

SDK Configurations
SDK Configurations is where you can make changes to your bot, with respect to its User Interface. You can make changes to the Let's chat icon, you can add a header text, then you can make changes with respect to the color of the bot. Basically, SDK Configurations is where you enhance the UI of your bot.
You can read more about it, here.
Platform Deployments
Platform Deployments is where you integrate your bot with other channels or platforms. You will have to add certain details in the fields provided for every channel in order to enable the integration.
You can read more about it, here.