Bitcoin Forum
June 16, 2024, 11:02:11 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: Which wallet is better, onchain or offchain?  (Read 1695 times)
Remember remember the 5th of November
Legendary
*
Offline Offline

Activity: 1862
Merit: 1011

Reverse engineer from time to time


View Profile
October 18, 2014, 12:51:56 AM
 #21

Define the context of offchain. It has different meanings depending on the context.

BTC:1AiCRMxgf1ptVQwx6hDuKMu4f7F27QmJC2
huoiuu
Full Member
***
Offline Offline

Activity: 182
Merit: 100

★Bitin.io★ - Instant Exchange


View Profile
October 18, 2014, 01:20:04 AM
 #22

So blockchain.info wallet is onchain one? Right?
As per the D1T1 - Filippo Valsorda - Exploiting ECDSA Failures in the Bitcoin Blockchain analysis, blockchain.info wallet is not that safe?


So what is best option for web wallet? onchain or offchain?

two are good. lagre number BTCS use offchain  ,others use onchain

BTCmoons
Full Member
***
Offline Offline

Activity: 173
Merit: 100


View Profile
October 18, 2014, 10:20:13 PM
 #23

Define the context of offchain. It has different meanings depending on the context.
Offchain is generally considered when you deposit your bitcoin into some third party website/service and trust them to accurately keep track of the balance of your bitcoin. In exchange you will generally be able to instantly transfer money from person to person (instead of waiting 10 minutes for a confirmation), would not be at risk of any double spend attacks (assuming you trust the 3rd party service) and would allow you to avoid a TX fee.

The problem with this is that you need to trust some third party with your money.

Off chain transactions are clearly inferior
goldsun
Full Member
***
Offline Offline

Activity: 123
Merit: 100


View Profile
October 18, 2014, 11:22:48 PM
 #24

Which wallet is the best for storing offchain?

Or is it still safe to have a desktop wallet on a device thats not regularly in use?
Skoupi
Sr. Member
****
Offline Offline

Activity: 252
Merit: 250

Skoupi the Great


View Profile
October 18, 2014, 11:34:33 PM
 #25

So blockchain.info wallet is onchain one? Right?

If by onchain you mean that you control the private keys of your addresses and that every transaction associated with these addresses is stored in the blockchain then yes. Nonetheless the term offchain/onchain is mostly used to describe transactions not wallets.
BTCmoons
Full Member
***
Offline Offline

Activity: 173
Merit: 100


View Profile
October 19, 2014, 02:52:05 AM
 #26

So blockchain.info wallet is onchain one? Right?

If by onchain you mean that you control the private keys of your addresses and that every transaction associated with these addresses is stored in the blockchain then yes. Nonetheless the term offchain/onchain is mostly used to describe transactions not wallets.
There are 'offchain' wallets that are used. There are a couple that wallet services that work is faucets as all faucets do not payout enough to make sending a TX for each transaction for it to make any sense. Coinbase would also technically be an "off chain" wallet as long as payments are made from coinbase customer to coinbase customer
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!