Absolute Advantage

Absolute Advantage Intermediate An economics concept in which one party has a direct advantage in efficiency in producing/providing a specific good or service over another party.

Altcoin

Altcoin is the term given to describe alternative digital assets, such as a coin or token that is not Bitcoin. This nomenclature comes from the idea that Bitcoin is the original cryptocurrency and that all others are then considered “alternate” or “alternative” coins.

Candidate Block

In a few words, a candidate block is a block that a mining node (miner) is trying to mine in order to receive the block reward. So a candidate block may be described as a temporary block that will be either validated or discarded by the network. Miners compete with each other to validate the next block and add it to the blockchain, but first, they have to create a candidate block to participate in the mining competition.

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