• Off Blockchain Transactions

    Transactions occurring on a cryptocurrency network which move the value outside of the blockchain. Examples of Off-chain transactions include exchanging private keys to an existing wallet instead of transferring funds, or using a third-party to transact. Depending on the method used, off-chain transactions may eventually have to be recorded on-chain.

  • Open Source

    Software whose original source code is made freely available and may be redistributed and modified.

  • Oracle

    A third-party source of data or information supplied to a blockchain so that smart-contracts can be executed. Incoming data from an oracle is analyzed by the smart contract executes a specific series of transactions depending on the information received.

  • Orphan Block

    An unverified block that is no longer a part of the original blockchain that is accepted by the majority of miners.

  • OTC Exchange

    Abbreviation for Over the counter exchange. Market participants trade stocks, commodities, currencies or other assets directly between parties and without a central exchange or broker. Over the counter markets do not have physical locations; instead, trading is conducted electronically.

  • Ouroboros

    The Proof-of-stake (PoS) consensus mechanism that is used by Cardano. Ouroboros operates on Cardano's two layer protocol: a settlement layer and a control layer. The settlement layer is designed to perform accounting functions, while the control layer is tasked with running smart contracts.