I was under the impression that all bitcoin transactions were on-chain. How do o... | Hacker News

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ollysb on Jan 13, 2014 | parent | context | favorite | on: Bitcoin 2014 – Top predictions

I was under the impression that all bitcoin transactions were on-chain. How do off-chain transactions work?

aninhumer on Jan 13, 2014 | [–]

A single account holds bitcoin for a group of people, and keeps track of individual balances internally. Externally, all the network sees are deposits and withdrawls.

mithras on Jan 13, 2014 | [–]

All transactions on/within exchanges are off chain.

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