In the world of cryptocurrency, there are two main types of transactions: on-chain and off-chain. On-chain transactions occur directly on the blockchain, while off-chain transactions happen outside the blockchain.
But what exactly is the difference between them? Let’s find out in this video!
Links:
CoinGecko: https://www.coingecko.com/
GeckoTerminal: https://www.geckoterminal.com/
Timestamps:
00:00 Intro
00:16 What Is On-chain transactions
00:45 Pros and Cons of On-chain transactions
01:23 Example of On-chain transactions
01:43 What Is Off-chain transactions
02:30 Pros and Cons of Off-chain transactions
03:12 Example of Off-chain transactions
03:40 Outro
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#onchain #offchain #transaction #cryptotransactions #bitcoin #ethereum #decentralized #cryptocurrency#crypto #marketcap #finance #blockchain
9 Comments
First view
Which type of transactions do you use the most? Is it on-chain or off-chain?🔎
Wow jos
Wait. 3rd party?
On chain works for me. I think it's more secured and than off chain.
Transactions of any meaningful value, always on chain.
it kind of depends: if I am doing defi (regular, smaller transactions – more similar to my credit card) then offchain but if I am transferring some newly purchased digital gold (bitcoin) then I would prefer onchain. I think there are two specific use cases and both equally valid.
On chain, security is the number one priority!
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