Bitcoin's Unspent Output Model

This lesson is for enrolled learners

The concept Bitcoin doesn't track a "balance" anywhere. There is no row in a database that says "Alice has 0.5 BTC." Instead, the entire ledger is a pile of discrete, indivisible chunks called Unspent Transaction Outputs — UTXOs. Every transaction you've ever received created one or more UTXOs locked to your address. Your wallet's displayed balance is simply the sum……

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