Offshore account

A bank account that is registered in a country other than the one in which the owner was born is called an offshore account.

Off-Chain

All network users can see on-chain transactions because they are recorded on the distributed ledger. Off-chain transactions, however, take place away from the blockchain network

Node

An essential component of a blockchain infrastructure, a node stores data and allows all communication (transactions) to pass through it.

Encryption

Information can be converted into code using encryption, which conceals the true meaning of the data.