Cryptocurrency Q&A What is a UTXO in Bitcoin?

What is a UTXO in Bitcoin?

Silvia Fri Sep 06 2024 | 0 answers 0

Can you explain what a UTXO stands for in the context of Bitcoin? I've heard the term mentioned before but I'm not entirely sure how it relates to the blockchain or the transactions that occur within the Bitcoin network. Is it a critical component of the system, and if so, how does it function? I'd appreciate a clear and concise explanation that helps me understand the significance of UTXOs in Bitcoin. What is a UTXO in Bitcoin?

What is a UTXO in Bitcoin?

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