Offchain

Offchain activity happens outside the blockchain to reduce load and improve speed. This is often used by Layer 2 blockchains.

Onchain

Onchain actions are recorded directly on the blockchain. They are transparent and verifiable by anyone with an internet connection.

Oracle

An oracle brings external data into smart contracts. It enables real-world use cases like price feeds.

Order Book

An order book lists buy and sell orders on an exchange. It shows market depth and liquidity.