work @graphprotocol // play - web3kiduniya // fmr @0xPolygon
Jan 7 • 6 tweets • 2 min read
Did you ever wonder why Bitcoin spends like cash while Ethereum feels like a bank account?
The answer lies in UTXO vs. Account-based systems—and understanding this can strengthen how you see blockchain systems.
Let’s dive in
Let's first understand what UTXO is.
The unspent transaction output (UTXO) model is similar to cash.
In this model, the ledger's state is represented by a set of unspent transaction outputs and each UTXO is like a unique fiat paper bill users can spend.
Transaction in UTXO consists of - Inputs & Outputs
-> Input = UTXO being spent
-> Output = referred to unspent Coins/transactions
A Transaction consumes one or more existing UTXOs as input and generates new UTXOs as output
An example of a UTXO Blockchain is the Bitcoin
Aug 27, 2021 • 4 tweets • 5 min read
#web3 is full of surprises! And that's what makes it super exciting......
This has been proven with the end of summer and the trends shown by Projects
Read the full thread 👇
Many thought it will be the summer of Layer2s
