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
Wei
The smallest fraction of an Ether, with each Ether to 1000000000000000000 Wei.
Zero Knowledge Proof
Cryptographic proof for 2 parties to verify a value without revealing what the value is.
Ledger
A record of financial transactions that cannot be changed, only appended with new transactions.
Composability
Composability refers to the ability to combine different components of a software stack.
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