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
Explain Like I'm Five (ELI5)
To explain in such simple terms that even a five-year-old would be able to understand it.
Hey Hey Hey
A term made popular by Carlos Matos who was the spokesperson for the Bitconnect Ponzi. He used it frequently during Bitconnect events to rile up the crowd.
IYKYK
Abbreviation for: if you know you know. The phrase implies that the user has dropped some sort of insider knowledge about a specific experience. Often, the post will have some callback to a particular experience that will instantly stand out to those who are “in the know,” or ironically sharing commonly known information.
Bitcoin ATM
A machine from which you can buy or sell Bitcoin. Typically also offers different types of cryptocurrencies.
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