![]() ![]() Signatures can be used to authorize transactions on behalf of the signer. The magic ingridient that makes off-chain order books work are cryptographic signatures.Ĭryptographic signatures are a foundational computer science primitive that enables all blockchain technology. These off-chain orders are submitted off-chain instantly, without having to pay any gas. Makers then submit these signed orders to an off-chain order book - databases hosted by third-party Relayers on centralized servers - for Takers to browse and fill. Instead of posting buy or sell orders directly on-chain, Makers signs messages detailing their order using their private key. In decentralized exchanges, signatures and off-chain computation are used to pre-authorize market Takers to fill any signed orders made by market Makers. Then, we'll examine real-life use cases of off-chain computation such as decentralized exchanges, state channels, and meta transactions. ![]() Cryptographic signatures can be used to validate the origin and integrity of messages. In this article, let's look at how you can perform off-chain computation using Ethereum signatures. In contrast, off-chain computation lets you perform actions instantly without waiting for transactions to be mined and does not cost any gas. As a result, on-chain transactions takes time and costs gas to compensate miners for their work. An Ethereum transaction needs to be included in a block and mined before it is processed and saved on the blockchain. ![]()
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December 2022
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