What Are Off-Chain Transactions?

Off-chain transactions are transactions that occur outside of a blockchain network. These transactions are not recorded on the blockchain, but they may still be verified by the network using other methods, such as smart contracts. Off-chain transactions can increase the scalability and privacy of a blockchain by reducing the amount of data that needs to be stored on the blockchain itself. Off-chain transactions can also be used to facilitate transactions that do not require the full security of the blockchain,…