Off-chain
By CoinGecko | Updated on Mar 03, 2020
It refers to transactions occuring outside the blockchain and executed instantly. There are number of methods to do off-chain transactions. For example, two interested parties do a transfer agreement. Next, a third party faciliatete the transaction by become the guarantor in it.
Related Terms
Ledger
A record of financial transactions that cannot be changed, only appended with new transactions.
Goblin Town
A term used to describe the market's persistent downtrend, synonymous with "bear market".
Stale Block
Double mined blocks that are not included in the blockchain.
Proof-of-Developer (PoD)
A concept of identifying the developers of a project as a means of vouching reputation for a project
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