The phrase on-chain is frequently thrown around as a buzzword, so let us provide a straightforward explanation. At its core, off-chain simply means you are taking someone else at their word, while on-chain means you have the ability to verify the truth for yourself.
When an operation occurs on-chain, it completely removes the need to trust a solitary server for honesty or continuous uptime. Instead, every single node in the network must independently evaluate and approve the activity based on established rules before it can be accepted.
This exact transparent process applies to all DigiDollar mints, locks, and redemptions. Because these functions operate this way, the overall numbers displayed on various statistics pages are derived entirely from blockchain data. Consequently, any individual who runs a network node can independently audit and confirm those exact totals.
When an operation occurs on-chain, it completely removes the need to trust a solitary server for honesty or continuous uptime. Instead, every single node in the network must independently evaluate and approve the activity based on established rules before it can be accepted.
This exact transparent process applies to all DigiDollar mints, locks, and redemptions. Because these functions operate this way, the overall numbers displayed on various statistics pages are derived entirely from blockchain data. Consequently, any individual who runs a network node can independently audit and confirm those exact totals.