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UTXO – Unspent Transaction Output

Featured in SBI-002

An unspent transaction output (UTXO) is a chunk of bitcoin that was received in a previous transaction but has not yet been spent. An UTXO can serve as an input of a new Bitcoin transaction. Only an owner of the private key corresponding to the bitcoin address, which controls the UTXO, can spend the UTXO in a new transaction. For that reason, the complete collection of all UTXOs at any given time, known as the UTXO set, fully represents the current global state of bitcoin ownership.

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