Definition of Off-chain

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.

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Related Terms

Watchlist

A personally defined list of values to watch over for activity or changes.

Sim Swapping

It is a tactic where hacker overtake the mobile phone to exploit the two-factor authentication and two-step verification.

Application-Specific Integrated Circuit (ASIC)

Refers to specialized computers that are made to do a very specific task (eg. calculate hashes for Bitcoin's Proof-of-Work)

Cloud Mining

Mining on blockchains through rented processing power rented from companies that host the physical equipment.

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