| Name | Price | 24H (%) |
|---|---|---|
Bitcoin
(BTC)
| $7,143.18
| 4.37% |
Ethereum
(ETH)
| $183.68
| 7.59% |
XRP
(XRP)
| $0.189196
| 3.47% |
Tether
(USDT)
| $1.00
| -0.03% |
Bitcoin Cash
(BCH)
| $233.71
| 6.72% |
Bitcoin SV
(BSV)
| $193.30
| 6.32% |
Litecoin
(LTC)
| $41.86
| 3.52% |
EOS
(EOS)
| $2.63
| 4.29% |
Binance Coin
(BNB)
| $15.70
| 4.80% |
Tezos
(XTZ)
| $2.36
| 9.09% |
Off-Chain
When in dealing with blockchain environments, Computation is extremely costly and slow, however, using a blockchain ledger for proofing data is extremely efficient and reliable; therefore, one of two things can take place: 1.) either the data exists within the blockchain itself (On-chain) or 2.) a hash reference of that data exists on the blockchain and the activity is conducted elsewhere (Off-chain).
The Term, Off-Chain, is used to refer to any transaction/event that is processed in an alternative environment and only its result is registered within the blockchain.
On-Chain & Off-chain principles can be more easily understood when they are thought of as online/offline. You can use your computers Microsoft Word without the internet so that activity is off-line (off-chain). However, if you use google docs you must be connected to the internet (online/on-chain). In the first example only you know about the activity that happened; meanwhile, in the latter example, Google registered all of your activity on their servers.
Related Terms:
