- UTXO’s are received tokens of an address, that haven’t been spended yet.
- the transaction will be rejected
- It is implicitly the Transaction input minus the transaction output
- you could use another address everytime you receive tokens
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You can use a different address every time you receive a tx.
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You can use multiple UTXOs as inputs to a new tx. If that isn’t enough to cover your transaction then your transaction would be refused.
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1.your current balance
2.it will combine all utxo until you have enough
3.the difference from input and output
4using different address for each transaction recieved.
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- Describe what Unspent Transaction Outputs (UTXO) are.
UTXO is a transaction output that has yet to be used by the receiver as an input for other transactions.
- What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
It will sum up more UTXOs to make a large transaction as required and change will be credited to your account after deduction of transaction fees. If there is no sum of multiple UTXOs that make up larger output, the transaction is invalid.
- How would a bitcoin wallet specify the transaction fee when creating a transaction?
Transaction fee = input - output
- How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
By using different addresses in one transaction
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True, the transactions will be rejected.
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UTXO’s are your balance
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The transaction would not be processed.
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The fee would be based on previous transactions by looking at recent tx fees on the blockchain. High enough to incentivize the miner and low enough to make sense for the bitcoin holder.
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By using different wallets.
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that makes sense, thank you.
- UTXO´s are what you recieve. 2. If you do not have one single UTOX which covers the cost of what you want tu buy, your wallet will take as many UTXO´s as needed to cover the cost + transaction fee. If you dont have enough UTXO´s at all you will not be able to complete the transaction. 3. Input - output = transaction fee. 4 No one knows how much you really send to the reciever. Also it could be that you have multiple recievers and multiple UTXO´s, you probably also send some money back to yourself. But no one really knows so it is quite private.
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- Describe what Unspent Transaction Outputs (UTXO) are.
- They are previous inputs sent by other transactions and received by my wallet.
- What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
- I would have to combine my UTXO that are queued in my wallet so that the sum of them are equal or bigger than the tx output + fees.
- How would a bitcoin wallet specify the transaction fee when creating a transaction?
- It creates the fee automatically and the fee is decided by the blockchain by calculating the previous fees and setting you up with the best and fast enough transaction time. (inputs = outputs + fee)
- How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
- To increase the privacy you can always use multiple wallets because we do not know for sure how many BTC addresses a person used for the same transactions.
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UTXOs are transactions you have recieved but not spent. Your wallet balance isnt made up of “coins” but of UTXOs
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It will add up all the smaller UTXOs you have, then return the “change” to you. If there isnt enough smalelr UTXOs then the transaction will be invalid
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The transaction fee is the input - the output.
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You can generate multiple outputs as the outputs are not associated with a person or each other
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- Inputs must always equal the outputs. Its the output of a transaction that could be used later as an input. UTXO is somehow an accounting rule by which all the transactions’ balance is assured.
- As input should equal the output, all the UTXOs are aggregated and perform the transaction. If the total UTXO is less than the transaction amount, so its invalid.
- It collects the data from the blockchain network and offers the best fee. Technically, it is the difference between input and output. Input=Output+ Tx Fee
- As the input always equals output, you can always make sure that the transaction is secure.
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A given transaction is made up of inputs and outputs. When you have recieved money but not spent it, it is a UTXO. Once you send it on in a subsequent transaction, it ceases to be a UTXO (Unspent Transaction Output) and is classed as SPENT. This is why you can’t spend the same money twice, you can only spend what you have. The wallet will query the blockchain to find how many UTXO’s this pricate key has, and adds them up to give a balance. You can spend the balance (minus fees).
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If you don’t have a single UTXO that will cover your transaction, your wallet will query the blockchain to find how many UTXO’s are available to you and add them up to provide a balance. If the balance is now high enough, you can make your transaction, otherwise it is rejected as you can’t spend what you haven’t got.
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The wallet will ‘propose’ a fee based on the value of the inputs and outputs of a transaction.
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The use of digtal signatures on all inputs and outputs raise the security of a transaction. Security is also higher when the individual inputs (senders) do not have any information about the other inputs (senders) in a transaction.
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1)Total UTXO is the balance in the wallet that is unspent.
2) The transaction will be declined.
3)The transaction fee is input -output and the fees are implied.
4)Using different Addresses producing outputs that are encrypted.
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1)Describe what Unspent Transaction Outputs (UTXO) are.
UTXOs are coins you’ve received to your wallet but you’ve yet to spend
2)What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
Your wallet will use as many UTXOs as needed to complete the transaction, if you do not have enough UTXOs your transaction will fail
3)How would a bitcoin wallet specify the transaction fee when creating a transaction?
Fee = Input - output
4)How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
By Creating more output addresses
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1.total of UTXO is equivalent to the wallet balance.
2…no transaction will be possible
3.wallet checks the blockchain and based on the current mining difficulty suggests a fee
4.if you generate new addresses for the outputs it is impossible to tell, which output goes back to the sender
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- The pathways of a transaction and the balance available on a key for the next transaction
- The UTXO would be added together and if the sum is still not large enough, the transaction will be rejected by the nodes
- The wallet chooses the fee that would get you into the blockchain reasonably fast
- You could make the transaction send your UTXO to multiple of your own wallets in addition to the target recipient so that the true amount is more hidden
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1.) UTXO is a amount of funds that has been received but not spent or sent to another address
2.) the transaction will be rejected and ignored.
3.) It takes the difference of the input from the output
4.) By sending a portion it to another wallet you have the keys too while sending out to another un owned wallet
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The sum of all available UTXOs is the wallet balance.
You can use multiple UTXOs as inputs to a new tx. If you still don’t have enough then your tx would be declined. 
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Basically inputs from my point of view (as wallet owner who received funds)
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My wallet shall reject my transaction request
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It chooses the fee most appropiate to deliver it at speed, based on the network parameters
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My public key shall never reveal my personal details to the network
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