Interested to Buy Any Domain ? << Click Here >> for more details...
Can you make a case for what square measure off-chain transactions?
- 1 Answers
- 9 Views
- I also Faced
- E-Mail Answers
Answer / Pravesh Kumar Singh
Off-chain transactions, also known as off-ledger or sidechain transactions, are useful in situations where the on-chain transactions might be too expensive, slow, or complex. They allow for scalability by reducing the load on the main blockchain and enabling faster transaction processing. Off-chain transactions can be settled later on-chain to maintain security and transparency. For example, smart contracts can handle complex business logic off-chain and only record the outcome on-chain.
| Is This Answer Correct ? | 0 Yes | 0 No |
How will blockchain transform industry roles?
Why blockchain is trustworthy?
What is blockchain technology?
Hash identifying each block in the blockchain is generated using which of the cryptographic algorithm?
What are the key elements of the blockchain ecosystem? Explain each of them briefly?
What is Secret Sharing? Does it have any benefit in Blockchain technology?
What is cryptocurrency mining?
What are blocks in blockchain technology?
What is a ledger and what kind of ledger is blockchain?
What are the popular platforms for developing blockchain applications?
How are transactions and blocks encrypted in the bitcoin implementation?
What is a virtual machine?
Cryptography Algorithms 
