On-chain

How it is used

Used as an adjective (on-chain data, on-chain transaction, on-chain governance) and as an adverb (the vote happens on-chain). On-chain analysis means studying public blockchain data, such as large transfers or money flowing into exchanges. The opposite is off-chain. It is written with a hyphen.

Example sentences

1. On-chain data shows that a large amount of bitcoin moved to exchanges this week.

2. Every payment we make is on-chain, so the auditors can trace the funds themselves.

Common collocations

• on-chain data
• on-chain analysis
• on-chain transaction
• on-chain governance

Related terms

• off-chainHappening or stored outside the main blockchain, for example in a company's own database or on a separate system, and not recorded as a normal blockchain transaction.
• block explorerA website that lets anyone search a blockchain and see blocks, transactions, addresses and smart contracts in readable form.
• transactionAny action recorded on a blockchain, such as sending coins from one address to another or calling a smart contract. It must be signed with the sender's private key.
• ledgerA record of who owns what and of every transfer between accounts. A blockchain is a type of distributed ledger: many computers keep the same copy instead of one bank or company.
• DAOShort for decentralized autonomous organization: a group whose rules are written in smart contracts and whose members vote on decisions, usually with governance tokens.

More terms: Blockchain Basics

• blockchain
• block
• node
• decentralized
• hash
• immutable
• peer-to-peer
• whitepaper