- Smaller transactions will result in less fees and a multitude of efficiency benefits.
- UTXOs provide a completely anonymous network by not using a traditional “balance” and outputting transactions that could return to the seller using different addresses. Ethereum is much more simple and straightforward, making it easier to track transactions without such anonymous characteristics.
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- The transaction will take up less block space and smaller transactions create lower fees.
- Account balances are public and transparent. If you were to send a transaction from one of your accounts to another, it is obvious. The UTXO model however allows for there to be an input that defines multiple outputs, and the output result(s) for UTXO model could have included sending Bitcoin to multiple accounts, some to friends/family, while another may have been the sender’s own change wallet, ultimately making it harder to determine who the recipients were.
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
It’s a benefit because it makes transactions more simple. Also makes transactions take less space in each block. In theory this benefits the Ethereum blockchains because it reduces the gas fees and decreases the time per transaction confirmed but in practice doesn’t happen because of the scalability problem that Ethereum has.
- How is the account model not as great as the UTXO model for privacy?
The account model deployed in Ethereum doesn’t have UTXOs like the Bitcoin Blockchain. The Ethereum model updates the account balance for every transaction made or received through the account. The account model deployed in Ethereum doesn’t have the option of sending UTXOs back to your account in one transaction in order to add more privacy when a third person check the transaction. It only updates the balance of each account in the transaction.
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Each block can hold more transactions.
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In the UTXO model it doesn’t show the total balance of any particular address. Only a wallet can show you your balance by adding up all UTXO’s. In the account model, every transaction just updates the balance of each account. You can see on the blockchain exactly how much money was sent from one account to another.
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- It does not require as much space because you are not tracking UTXO, you are instead getting an update of your balance.
- The account model is not great for privacy, not only because of its fungibility, but because you only see an update of your balance. 1 ETH = 1ETH, so there is not tracing of the history of the UTXO. In Bitcoin 1BTC does not always equal 1BTC, nodes in the network can reject it.
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1. The account model doesn’t require much space as the UTXO model, why is that a benefit?
Less space means more data on each block, which leads to faster and more transactions. -
How is the account model not as great as the UTXO model for privacy?
The UTXO model allows for multiple account payouts, including your own, and therefore can be good for privacy as several outputs at the same time can hide exactly where the output has been sent to and how it is split. Meanwhile the account model allows for every transaction to be followed, as the code itself is as simple as a numerical adjustment.
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Account model requires less space because a transaction is a straight forward balance sent from A to B. Where UXTOs are a collection of unspent transaction that are added to gether to get your balance. Taking up more space on the block.
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But because of this you can see much easier what account is which. With UXTOs you basically send money and receive change so on the output there is more than one transaction as it sends money back to yourself. The account model just sends a balance. From your account to the recipient.
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The account model doesn’t require much space as the UTXO model, why is that a benefit?
It is possible to put more transactions onto 1 block, as compared to UTXO model. It will make transactions be faster, and more. -
How is the account model not as great as the UTXO model for privacy?
The account model results in less privacy, because every transactions will show up when the account balance is updated. It is also not possible to hide transactions by transacting back to ownself.
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- The account model doesn’t require much space as the UTXO model, why is that a benefit? Reduces block size, increases speed on Tx’s
- How is the account model not as great as the UTXO model for privacy? Because the account model has no outputs, so you can see and trace every transaction/
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1. The account model doesn’t require much space as the UTXO model, why is that a benefit?
Faster transaction times, less storage space needed
2. How is the account model not as great as the UTXO model for privacy?
With a UTXO one can have several outputs, including one coming back to sender but there is no way to tell which output address (if not both nor any of them) is returning to the sender. With the account model it is possible to see the origin and destination of funds clearly as it is written in the code.
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blocks can include more transactions, which means smaller fees per byte
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You can’t send funds to yourself in a transaction, making it easier to visualize where funds flow.
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1: Less memory and storage needed which allows for more people to participate.
2: You cannot see the inputs and outputs. It is all balance based so there is less verification
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
Because the account model only needs to track the balance of a wallet and not the UTXO’s. It’s a benefit because it takes less space. This model makes eth fungible because it doesn’t allow traceability of the coin like where it came from and how. This makes 1 eth always equal to 1 eth. - How is the account model not as great as the UTXO model for privacy?
Account model has less privacy because it only tracks the balance hence people can see how much you sent to another address. This is different from the UTXO model where you the inputs and outputs are tracked and allows you to send to multiple addresses including to your own address so they don’t become aware of your existing balance.
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- The blocks can include more transactions, requiring less resources for nodes.
- It is easier to see where payments come from and whither they go. In the UTXO model, a single transaction can have multiple outputs, including “change” sent back to the sender etc.
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The account model doesn’t require much space as the UTXO model, why is that a benefit?
Because there will be more space for transactions which causes the transaction speed to go up.
How is the account model not as great as the UTXO model for privacy?
because the account model funds are easier to follow because you cannot send funds to someone else and to yourself in one transaction
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1.) Every block can contain more transactions, processing can be faster and cheaper.
2.) You cannot send money back to yourself, so the sender’s address, the receiver’s address, and the exact sum of money sent can be seen by anyone.
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The account model doesn’t require much space as the UTXO model, why is that a benefit? It is a benefit because less space on a block makes it easier to fit more transactions per block on the network.
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How is the account model not as great as the UTXO model for privacy? The Etheruem account model is more straightforward and easier to calculate the balance of your wallet compared to the bitcoin UTXO model that must calculate all the transactions input and outputs to show how much a wallet can spend, which makes it easier to trace a wallet that has been using its balance for illegitimate purposes.
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Q: The account model doesn’t require much space as the UTXO model, why is that a benefit?
A: Because by less space, it means you can store more transactions in the block.
Q: How is the account model not as great as the UTXO model for privacy?
A: Because in Bitcoin you can have several outputs but in Ethereum you do not have that. For example, in Bitcoin I can send money to a person and some to myself, but in another account. So, I can get some privacy by that. In Ethereum, this is not possible because Ethereum just updates your balance and it is only one output.
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1- Saving space allows for more transactions in a block, also allows space for programability.
2- The account model allows someone to see the exact amount being sent to/from an address.
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That is a benefit because transactions are processed faster and more efficiently.
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Under the account model, anyone can see on the blockchain the exact amount being sent and the addresses of the sender and recipient. On the other hand, under the UTXO model, it is impossible for the outsider to see the arrangement of the output, whether all sent to the recipient, partially sent to each party, etc.
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