UTXO

UTXO stands for Unspent Transaction (TX) Output. Every on-chain bitcoin transaction sends bitcoin to one or more addresses, from at least zero (in case of a coinbase transcation) addresses.

A bitcoin wallet balance is actually the sum of the UTXOs you control with the wallet's private keys.

UTXO set

The UTXO set is the collection of all addresses with unspent outputs.

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