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UTXO Value Spent (Sample only)
The median amount of coins in spent transaction outputs.
Tx | 0xceab04e19477e472c2ea03b19aa3e9bf90ab0f76625a442457e1645e00506457 |
Asset Types | BTC, LTC |
Currencies | BTC, ETH, USD |
Resolutions | 1 Month, 1 Week, 1 Day, 1 Hour, 10 Minutes, 5 Minutes |
Reviewed & fact-checked by | Tammy Kah | 10:31AM UTC 04-03-2022 (last updated) |
Created by | David Hall | 10:31AM UTC 04-03-2022 |
Relevant/use cases tags | UTXO, Agnostic Smart Contracts, Unspent transaction output |
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Abstract
The term UTXO refers to the amount of digital currency someone has left remaining after executing a cryptocurrency transaction such as bitcoin. The letters stand for unspent transaction output. Each bitcoin transaction begins with coins used to balance the ledger. UTXOs are processed continuously and are responsible for beginning and ending each transaction. Although confirmation of transaction results in the removal of spent coins from the UTXO database, a record of the spent coins still exists on the ledger.
Use case
UTXO transactions sound complicated, but they really are fairly simple. UTXO or unspent transaction outputs are used in cryptocurrency transactions. These are the transactions that are left unspent after someone completes a transaction, similar to the change someone receives after conducting a cash transaction at the store.
Here's how it works. A UTXO database is used to store change from cryptocurrency transactions. This database or ledger is initially set to empty or zero. As transactions multiply, the database becomes populated with change records from various transactions. When a transaction is completed and there are outputs that aren't spent, they are deposited back into a database as inputs that can be used at a later date for a new transaction. Cryptocurrency transactions—such as those used for bitcoins—are similar to cashier checks. You cannot exchange them for custom amounts and must spend the entire amount stored in that data byte.
Formula and Calculation (Sample only)
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Example
Imagine that you are in a coffee shop, and you buy a cup of coffee for $4.50. Now, it is clear that you could not provide the exact amount of money when paying with cash. You have $55 in your wallet, and you could pay a $5 bill to get two quarters in return. If you pay a $10 bill, you will get a $5 bill and two quarters in return. If you pay a $20 bill, then you could get three $5 bills and two quarters in return. The same concept of change money, when applied to the blockchain, gives rise to UTXOs.
When you send cryptocurrencies, you have the same currency and change model like with fiat currency. For example, you have a total of 700 Bitcoins in your wallet. Now, the balance in your wallet will be available in the form of three UTXOs, with distinct values. One UTXO could be in the amount of 300 Bitcoin, while the second one can be 140 Bitcoin and the third can be 260 Bitcoin.
Now, think of a scenario where you have to send 100 Bitcoins to a specific address. In this case, you have to send one whole UTXO to complete the transaction. You could not just tear a $20 bill in half to pay for an item worth $10 by handing one half. Similarly, you could not tear UTXOs in half for completing a crypto transaction. You have to send the complete UTXO and receive the change in return.
For example, if you want to send 100 Bitcoins to a friend, you could send your UTXO worth 140 Bitcoins. Your friend would receive the single UTXO of 100 Bitcoins. On the other hand, you would receive a smaller UTXO of 40 Bitcoins. The amount of UTXOs you receive can depend on the size of the ones you sent in the transaction to your friend.
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Python
Python library: (Sample only)
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Solidity
Solidity library: (Sample only)
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See also
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UTXOs Created
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UTXOs Spent
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UTXOs (Total)
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UTXO Value Created (Total)
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New Deposits
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New Value Staked
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New Validators
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Total Number of Deposits
Activity
0x3aab2cfedadf0136bd5... | 11:58, 1 October 2021 Xa Sancle | Record created | Created |
0x760e9bbba65e05ab024... | 13:59, 14 January 2022 Primefac | UTXO Value Spent | Updated |
0xf6134d5644b8c898d32... | 15:21, 8 February 2022 Dexxor | UTXO Value Spent updated | Reviewed |
0x890e682da42fd1ba3b9.... | 11:38, 17 February 2022 CrafterNova | UTXO Value Spent peer reviewed | Reviewed |
0xceab04e19477e472c2ea.... | 09:27, 28 March 2022 Denisarona | UTXO Value Spent peer reviewed 2 | Reviewed |
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References
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"Unspent Transaction Output (UTXO)". river.com/learn/. December 15, 2020.
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^ "UTXO Set". river.com/learn/. December 15, 2020.
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^ "Bitcoin UTXO Lifespan Prediction" (PDF). cs229.stanford.edu. December 11, 2015.
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^ "Reusable Proofs of Work". nakamotoinstitute.org. August 16, 2004.
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^ "Hashcash - A Denial of Service Counter-Measure". hashcash.org. March 28, 1997.