VietMX Staff asked 3 years ago
On-chain, transactions are considered to be valid when a blockchain reflects the transactions on the distributed public ledger. This includes authentication and validation of a transaction by a defined number of participants. The different details of a transaction are recorded on the block and distributed to the entire blockchain making the transaction irreversible since it can’t be altered.
An off-chain transaction is the movement of value outside of the block chain. Basically there would be no record of the transaction at all in the public blockchain just shift who owns what amount of coins. This is happening for saving time rather than waiting for miners to confirm a valid transaction in Blockchain.
