Off-chain

Off-chainOff-chain refers to transactions or data processing that occurs outside of the main blockchain network, but is still connected to it. Off-chain transactions allow for... refers to transactions or data processing that occurs outside of the main blockchainThe blockchain is a digital ledger that records transactions in a secure and decentralized manner. Think of it like a shared spreadsheet that is constantly... network, but is still connected to it. Off-chain transactions allow for faster and more scalable processing of transactions, as they do not require the validation and confirmation of every nodeCryptocurrency nodes are computers or devices that are connected to a blockchain network and help to validate and process transactions on that network. Nodes work... on the blockchain network. This is achieved by performing transactions between two parties directly, and only recording the final state of the transaction on the blockchain. An example of off-chain transactions is the Lightning NetworkThe Lightning Network is a layer-2 scaling solution that allows for faster and cheaper transactions on the Bitcoin network. To use it, you would first..., which is a layer-2 solution built on top of the BitcoinBitcoin is like a digital treasure that you can use to buy things online. It's like having a secret code that only you know, and... blockchain. Trading bots can use off-chain solutions to improve transaction speed and efficiency.