Skip to main content

Posts

Showing posts with the label onchain

What is Off-Chain?

What is Off-Chain?   Off-chain is not the main blockchain system, but transactions occur outside. Through this, it is possible to solve the scalability problem that could not be solved on-chain. Offchain records only core data on the blockchain, and at this time, data that needs high speed is recorded on the central server of the DApp, not the blockchain. Offchain has advantages such as low fees, high speed, and high transaction throughput. However, there is also a disadvantage, which is that the transaction details recorded in the off-chain cannot be fully trusted. A representative method for solving the off-chain scalability problem is a lighting network. The Bitcoin protocol takes an on-chain payment method that records all transactions generated in the network on the blockchain. This takes a very long time to verify because it stores all the transaction data in the block. Therefore, delays in confirmation occur, and fees paid to miners naturally become expensive. In the end, Bi...

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...