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transactions you received that are unspent
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You would not be able to construct a transaction to offer to the blockchain
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The amount input minus the output = fee
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Sent the output amount to a different wallet address that you control. (or use a blender
)
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- UTXO’s are unspend tranactions. Received transactions that have not been used.
- It will take several UTXO’s to make sure there are enough funds and send back the remaining funds to your wallet minus fee.
- It will offer you the best fee after checking the previously paid fees on the network
- The wallets or UTXO’s are not connected to a certain person or account. Also on the UTXO you can not see which amount is spend and which amount is send back to the sender.
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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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A UTXO basically the balance your wallet holds which is available to spend.
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if you dont have a single UTXO large enough to cover the transaction, your wallet will aggregate additional UTXO’s to ensure there is enough available
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A Bitcoin wallet will specify the transaction fee by querying the network to see how much congestion there is, Once this is done an estimation of Gas fee will be provided to you
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the privacy comes from having multiple outputs, this makes it hard to determine which UTXO’s were actually sent to another recipient.
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- Unspent Transaction Outputs (UTXO) are the data created from a previous transaction. The total value of all UTXOs connected to a single wallet display your “balance,” or the remaining unspent transactions outputs available for your use.
- The transaction would be invalid.
- A bitcoin wallet recommend a reasonable fee, bases on the current and previous transaction fees.
- If you create different addresses each time you do a transaction, all the bitcoin will be moved to that new address (minus the fee or payable amount). Since addresses are not linked to an identity it is hard to try to link utxo’s to an individual.
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 UTXO are the balance left in your wallet that it keeps track of.
2 The transaction would be declined if your UTXO is not large enough to cover it.
3 The wallet checks the blockchain and figures out the correct fee.
4 Several addresses and outputs can result from one input.
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- transaction showing what one has received into their wallet
- you can’t sent the funds
- it looks for the best scenario based UTXO and what is being sent
- use different addresses
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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. The result of a transaction that the user receives and can spend in the future
2. The wallet takes funds from other UTXOs and sends change back to its own address (if the OTXO sum is insufficient, the transaction sum is rejected)
3. Bitcoin wallet calculates the fee by taking leftover inputs after outputs are taken. However, useful wallets give the user the option to set fees
4. Increasing privacy is achieved by generating new addresses
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Describe what Unspent Transaction Outputs (UTXO) are.
They are the balances in the ledger associated with my private keys (in wallet) that I can use (spend). -
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
The tx will be broadcasted but will not go through(processed/approved) by the network. -
How would a bitcoin wallet specify the transaction fee when creating a transaction?
It is an amount that’s based on the following mathematical rule: Inputs= outputs + tx fee, so the total inputs will be equal to the outputs plus the tx fees. -
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
It can be hard to figure out who made the transaction considering the inputs and outputs don’t have specific information about the private keys.
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Describe what Unspent Transaction Outputs (UTXO) are.
Every unique set of PK has inputs (e.g. receive money) and outputs (send money). UTXOs are all the inputs (money sent to you) that have not been yet converted to outputs (that you have not sent to others0. -
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
It doesnt matter, as long as the addition of your UTXOs can cover the transaction. -
How would a bitcoin wallet specify the transaction fee when creating a transaction?
It doesnt, it just specificies the outputs to others + back to yourself, and the rest is the fee. -
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
You could sent 10 transactions to other wallets that you own.
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- UTXOs are the outputs of a wallet that have not yet become inputs.
- Then your wallet will use one or more UTXO(s) to cover the remaining amount for the required input.
- A wallet specifies the transaction fee by subtracting the output from the input (Input - Output(s) = tx fee)
- Input and Output addresses are completely anonymous. Therefore you cannot distinguish if an output address is a different recipient or a wallet owned by the sender.
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Not a 100% on these but here we go. Please correct me if I’m wrong.
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UTXO’s are the unspent output that one received as a result of someone else’s or ones own transaction
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Then you just combine 2 that tally up just enough or if too much send the left over back to you. (I guess there is a fee to be included as well)
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As far as I understood the fee is calculated by the wallet itself if the option for you to choose is not given and it does so based on inputs and outputs of the transactions.
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Nothing has personal details as first. Second having multiple potential out-and inputs for one transaction make it difficult to know where all the bitcoins are going
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- Describe what Unspent Transaction Outputs (UTXO) are.
UTXOs are transactions received. It contains information about of bitcoins sent to the wallet.
- What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
It means that you haven`t got enough bitcoins to spend.
- How would a bitcoin wallet specify the transaction fee when creating a transaction?
With private key signature.
- How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
Creating several amount of new private keys/wallets and use them like multiple outputs.
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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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Got it! Thank you
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- a UTXO is basically when you are given a sum of a crypto coin and you can give out that full amount in parts to a number of people including yourself.
- I’m not too sure but I would believe that the transaction would be read as impossible and become null and void.
3.A wallet would specify the transaction by taking the initial input amount and subtracting it from the output amount allowing you to get the fee. - You can use this to increase privacy since it doesn’t display who is inciting the transaction or who is receiving the transaction as well, if the sender is doing a transaction with themself or multiple parties at once.
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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.
Describe what Unspent Transaction Outputs (UTXO) are.
UTXOs are transactions that you have received to your wallet. They can be spent on future transactions
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
You can use multiple UTXOs as inputs on your new transaction.
How would a bitcoin wallet specify the transaction fee when creating a transaction?
It specifies the transaction fee as the inputs minus the outputs of a transaction.
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
You could send outputs to another wallet that you had control over in order to obfuscate who the outputs are actually going to.
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