Happy Thanksgiving!
Just dropped a new article and wanted to share: Bitcoin UTXOs: Explained for Beginners
Topics Covered:Topics Covered:
- What is a UTXO?
- Similarities Between UTXOs and Cash
- How UTXOs Differ From Cash
- Basic Rules for Bitcoin Transactions and UTXOs
- Example Transaction
- What Users See
- What Really Happens
- Where are UTXOs stored?
- UTXOs and Privacy
https://www.clementinemoney.com/content/images/2022/11/Bitcoin-Transaction-10-.png
Perfect, thanks for this article!
Thanks for reading :)
This article has been updated to fix an error pointed out by one of our readers!
The error:The error:
Miner fees are not UTXOs! They are just the leftover amount from each transaction after outputs are accounted for. They are paid to miners as part of the coinbase transaction.
New diagram:New diagram:
https://www.clementinemoney.com/content/images/2022/11/Bitcoin-Transaction-1-.png