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Showing posts with the label blockchain onchain

What is On-Chain?

What is On-Chain? On-chain is a transaction written on a blockchain network. All on-chain transaction information is included in the block, and recorded transactions cannot be permanently deleted. Representative examples of on-chain are Bitcoin and Ethereum, which form their own networks, and all transactions in the blockchain are recorded and disclosed to all users.  However, there is a possibility of various problems to rely solely on on-chain. There are  speed  problems that take a long time for transactions to be confirmed on the network after the transaction occurs,  privacy issues  that all transactions in the blockchain are disclosed to everyone,  cost issues  that incur payment costs to miners when verifying transactions, and  scalability issues  such as low TPS. In other words, the on-chain lost its speed instead of gaining high stability. A representative method for solving the scalability problem of the on-chain is the big block. C...