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
Smart contracts
Self executing contracts on the blockchain without needing human executors or notary.
Microtransaction
Microtransaction is a system that made very small payments possible in buying the common digital goods and services, such as purchasing items in a game.
Leverage
It is an investment strategy to gain potential return of the investment by borrowing the money
Full Node
Full Nodes are computers that verify the set of rules that are built into the protocols of a given cryptocurrency.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.