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.
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Software client that handles storage of cryptocurrencies and allows users to send cryptocurrencies.
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Trustless
Entirely verifiable, without needing to trust or assume an action is done completely and in good faith.
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