What is the meaning of UTXO in the context of cryptocurrencies?

3 answers

• Joel KaneshiroJan 24, 2023 · 3 years ago
  UTXO stands for Unspent Transaction Output, which is a fundamental concept in cryptocurrencies like Bitcoin. When a transaction is made, it creates an output that represents the amount of cryptocurrency being sent. This output is then stored in the UTXO set. The UTXO set is a database that keeps track of all unspent transaction outputs. Each UTXO has an associated value and a locking script that defines the conditions under which the output can be spent. When a new transaction is created, it references one or more UTXOs as inputs and creates new UTXOs as outputs. This ensures that each transaction is valid and that the same output cannot be spent multiple times.
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• Konstantinos TopaloglouApr 06, 2021 · 4 years ago
  In simple terms, UTXO is like a digital coin that represents the amount of cryptocurrency you have. When you make a transaction, you spend a certain amount of UTXOs and create new ones as change. The UTXO model is used to keep track of the ownership and transfer of cryptocurrency in a decentralized manner. It's an important concept to understand if you want to grasp how cryptocurrencies work.
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• Mubarek JemalJul 07, 2023 · 2 years ago
  UTXO, or Unspent Transaction Output, is a term commonly used in the world of cryptocurrencies. It refers to the output of a transaction that has not been spent yet. In other words, it represents the amount of cryptocurrency that is still available to be spent. UTXOs are stored in a database called the UTXO set, which keeps track of all unspent outputs. When a new transaction is created, it references one or more UTXOs as inputs and creates new UTXOs as outputs. This ensures the integrity and security of the cryptocurrency system.
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