UTXO

Bitcoin As A State Transition System

...n is the collection of all coins (technically, "unspent transaction outputs" or UTXO) that have been minted and not yet spent, with each UTXO having a denomination ...

Mining

... matters; if there are two transactions A and B in a block such that B spends a UTXO created by A, then the block will be valid if A comes before B but not otherwis...

Scripting

...eans that scripts cannot specify fine-grained control over withdrawal amounts—a UTXO can only be spent in its entirety, with change sent to a new output. A script c...

Ethereum

...cation they can imagine. The architecture differs fundamentally from Bitcoin's UTXO model. Ethereum uses an account-based system where the blockchain state consist...

Ethereum Accounts

...er and the fundamental unit for paying transaction fees (gas). Unlike Bitcoin's UTXO model where value is distributed across multiple unspent outputs, Ethereum acco...

Background

...of Litecoin. This decision inherited Litecoin's Scrypt-based proof-of-work, its UTXO (Unspent Transaction Output) transaction model, and its general network archite...

Technical Specifications

...uction rate even as miners enter and leave the network. Dogecoin uses the same UTXO (Unspent Transaction Output) model as Bitcoin for tracking ownership of coins. ...

The Fork

...es, and it modified the block structure in ways that they argued undermined the UTXO model's simplicity. By choosing a straightforward block size increase instead, ...

Technical Specifications

...ecture of Bitcoin, including the SHA-256 proof-of-work consensus mechanism, the UTXO transaction model, the secp256k1 elliptic curve for digital signatures, and the...

Transaction Throughput and Scalability

...he original codebase — including block propagation, transaction validation, and UTXO set management — and informed subsequent optimization efforts. Several protoco...

OP_RETURN and Data Applications

...otocol, it demonstrated the viability of building token economies on top of the UTXO model. CashTokens, activated in May 2023, represents a more sophisticated appr...

Smart Contract Capabilities

...-complete smart contract model, Bitcoin Cash smart contracts operate within the UTXO model using a stack-based scripting language that is deliberately not Turing-co...

Conclusion

...with restored and new opcodes, enables sophisticated smart contracts within the UTXO model's safety constraints. CashTokens brings consensus-enforced tokenization t...