UTXO News

An unspent transaction output (UTXO) represents the cryptocurrency left in a wallet following a completed transaction. This balance is used in subsequent transactions and stored in the UTXO database. Unspent transaction output is an accounting measure to confirm the amount of cryptocurrency one owns, similar to double-entry accounting, where transactions have an input and output. However, beyond the basics of accounting, UTXO is a transaction output for cryptocurrency data that is stored in bits on a transaction database.

The system allows the users to spend the UTXO placed under the control of their private keys just once. As a state machine, the blockchain updates the participants’ balances in the transaction upon its transition to the new state. The transition is the foundation of accounting models such as UTXO. As cryptocurrencies are anonymous in nature, UTXO is associated with the public addresses detectible to the entire network.

The UTXO model makes certain transactions in the network uneconomic, as the transaction cost might be more than the product one is purchasing. For instance, if someone wants to buy a pen for $1, they might find that the transaction fee on the blockchain might be more than the price of the pen itself.

 

Markets News
Hodlers have not needed to hodl hard enough, data covering historical bear markets shows.
That’s not hodling! Over 50% of Bitcoin addresses still in profit
William Suberg
2022-06-21T10:20:00+01:00
10620
Markets News
A bullish reversal into the new week rapidly gains attention, but sober analysts predict that this is just another relief bounce.
‘Mega bullish signal’ or ‘real breakdown?’ 5 things to know in Bitcoin this week
William Suberg
2022-05-30T09:30:00+01:00
19188
Market Update
On-chain data suggests that the market has “already capitulated” and traders identify a bullish technical analysis pattern with a breakout target near the $41,3...
Analysts say Bitcoin has ‘already capitulated,’ target $41.3K as the most hold level
Jordan Finneseth
2022-04-20T22:23:00+01:00
14307
Market Update
BTC price appears to be consolidating below $44,000, while analysts highlight $48,000 as the next short-term bull target.
Analysts say bulls will aim for $48K now that Bitcoin’s ‘accumulation phase’ has begun
Jordan Finneseth
2022-03-02T21:35:00+00:00
10049
News
A dearth of Haskell developers on Cardano prompted 3air to switch over to a more Ethereum-friendly environment.
Blockchain-based internet company 3air abandons Cardano for SKALE network
Sam Bourgi
2022-02-08T21:00:00+00:00
16384
Markets News
No sign of a new “alt season” at Bitcoin’s expense so far as controversy over fees continues for Ethereum.
Bitcoin market cap dominance hits 2-month high as altcoins struggle
William Suberg
2022-02-01T09:05:00+00:00
3881
Price Analysis
Bitcoin and most altcoins have fallen to key support levels, but the current trading setup suggests traders lack the confidence to chase after an oversold bounc...
Price analysis 1/24: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX
Rakesh Upadhyay
2022-01-24T18:47:00+00:00
14258
Markets News
It may have dropped to six-month lows, but Bitcoin is still the subject of an increasing supply squeeze.
Illiquid supply ‘going up relentlessly’ — 5 things to watch in Bitcoin this week
William Suberg
2022-01-24T08:15:00+00:00
22992

Follow us on Facebook