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
Wallet
Software client that handles storage of cryptocurrencies and allows users to send cryptocurrencies.
Transactions Per Second (TPS)
It is number of transactions done per second. For example, there are 10 transactions of Bitcoin done in 1-minute. The TPS would be 10 transactions/60 seconds = ~0.17 TPS.
Bearish
A term used to indicate negative sentiment towards the market or an asset, where investors believe that there will be downward price movement.
Testnet
Shorthand for "Test Network", testnets are staging areas for experimenting new blockchain features.
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