what are off chain transactions cryptocurrency 
off chain transactions refer to those transactions occurring on a cryptocurrency network that move the value outside of the blockchain due to their zero low cost off chain transactions are gaining popularity especially among large participants 1off chain transactions can be contrasted with on chain transactions understanding off chain transactionsoff chain transactions can be better understood when compared to on chain transactions an on chain transaction simply called a transaction occurs and is considered valid when the blockchain is modified to reflect the transaction on the public ledger it involves the transaction being validated and authenticated by a suitable number of participants recording the details of the transaction on the suitable block and broadcasting the necessary information to the whole blockchain network which makes it irreversible this kind of transaction can be reversed only after a majority of the network s hashing power comes to an agreement essentially every step linked to an on chain transaction occurs on the blockchain and the blockchain status is modified to reflect the occurrence and validity of the transaction in contrast an off chain transaction takes the value outside of the blockchain it can be executed using multiple methods in the simplest way two parties can even exchange their private keys involving a fixed amount of crypto coins this way the coins never leave the address wallet but the currency receives a new owner off chain 1off chain transactions advantages