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.
Software whose original source code is made freely available and may be redistributed and modified.
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.
An unverified block that is no longer a part of the original blockchain that is accepted by the majority of miners.
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.
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.