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What is Unspent Transaction Output (UTXO)?

Crypto Glossary Definition

UTXOs are a fundamental concept behind the way cryptocurrency is transferred on many blockchains, including Bitcoin. The total UTXOs tied to a given wallet address represents the amount of funds available in that wallet. Every transaction consumes elements from this set and creates new ones. When funds are sent to a wallet address, the remaining balance in that wallet is sent back to itself as an UTXO.

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