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
Shitcoin
A coin with no obvious potential value or usage.
Lightning Network
It is the "second layer" or an off-chain of payment protocol that operates on top of a blockchain. Payments on this network do not need block confirmation and it will be instant.
Non-Fungible Tokens (NFT)
They are collectible elements within the Ethereum blockchain under ERC-721, where each token refers to a single element with a certain value
Degen
Cryptotrading without Due Diligence and research - basically gambling
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