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
Public Keys
The alphanumeric string which serves as a public receiving address in cryptocurrencies.
State Channel
Secondary payment channel occuring off-chain
Proof-of-Developer (PoD)
A concept of identifying the developers of a project as a means of vouching reputation for a project
Atomic SWAP
Atomic Swap refers to the exchange of cryptocurrencies that operate in different block chains without intermediaries.
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