-
The account model uses less space, which slows the growth of the blockchain in bytes, allows faster transactions, and the smaller transactions mean smaller transaction fees.
-
In the account model, ETH goes from one account to another. This is easy to see on the blockchain. On BTC, you can have several UTXOs moving to several outputs, including ones the sender controls, making it harder to trace who controls which outputs.
1 Like
Answers
-
It’s very important to save space for transactions in ethereum model, because all nodes have to save even the code and the state of smart contracts on their.
-
Account model change only the amount of coin from A to B in the database. It’s impossibile to track the whole story of all the transactions of a single coin and you cannot send parts of money to one recipient and another part to yourself. So, less privacy but more fungibility (1 ETH is always equal to 1 another ETH on the network).
1 Like
1- It is a benefit if the account model requires less space the blockchain will be faster and also more scalable, it will enable to include more transaction in each block.
2- Because you are sending ethereum from A to B in the ethereum blockchain, there are balances, so it clear that person B sent some eth to person C. In the bitcoin blockchain is not as easy to track, as there are no balances but UTXOs. When a person is paying another person on the bitcoin blockchain, if the UTXO is bigger than the amount the person needs to pay he will get money back to himself and that gives him some privacy because no one knows that, that address belongs to him.
1 Like
-
beacuse it doesn’t keep track of every in and output so it is much lighter
-
because you can’t send money to yourself. You just send from account A to account B
1 Like
Ethereum and bitcoin use different accounting models, each with pros and cons. Ethereum relies on an account model while bitcoin uses the UTXO model to know the funds available to a given address on the network.
The account model is like what we’re used to with a savings bank account or checking account. An account will start with a first deposit. Future deposits will increase the total amount in the account. When there is a withdrawal that amount is subtracted from the total. Deposits add to the total and withdrawals subtract from the total so we have this concept of an account balance.
Incidentally, I personally withdrew a little too much funds this past week from a bank checking account, not that the account was overdrawn, but the average balance for the month dipped below some prearranged level which I had forgot about since the account was opened years ago. This little ‘error’ on my part caused a ‘low balance fee’ to be deducted from the account balance. People, bitcoin solves this type of problem! Keep learning how to be your own banker!
So, the account method is used for Ethereum but you don’t have to worry about any fees other than paying a little transaction fee when spending. Nice! You can add ETH to your address and spend it as you like. When the account has too little to spend more ETH, you’ll have to earn and deposit more ETH to increase your ethereum balance. One can have many ETH addresses, but it is fairly easy to see all the transactions and the existing balance for a given address on a blockchain explorer, like etherscan.io, so that’s not great for privacy. It is a good thing for the transaction speed and efficiency as less room is required with the account model.
Ethereum does not have to deal with change, like the remainder of your funds given back to you when you use a twenty dollar bill to buy something costing less. When you make a transaction the exact amount of ETH is spent and then subtracted from your balance for that address.
Bitcoin does not use the concept of balance as used with ethereum’s account model. Instead, its model of accounting is called the unspent transaction output or UTXO model. BTC sent to a new bitcoin address is considered an input to that address but it’s considered an output from the sending address. So, if Harry sends me 5 bitcoin to my new bitcoin address it would show a single input of 5 BTC, but it’s also known as an unspent transaction output. It’s the outputs we are spending. When I want to spend a half a bitcoin on a motorbike and 0.5 BTC leave my wallet that is considered an output that was spent.
You have to think of bitcoin transactions like using cash money, as in dollar bills. When spending bitcoin there is always this concept of change. In this example the whole 5 BTC was used in the transaction where 0.5 BTC went to the seller of the bike and 4.5 BTC was returned to my wallet. It is common practice to use a new address for receiving the transaction change. This makes it a little harder to know exactly what funds went where and to whom, so the level of privacy is higher than the account model used with ethereum. It is interesting though that with the UTXO model several transactions can be made at once in a single transaction which can obfuscate exactly where funds are going.
Your bitcoin address consists of a complete history of inputs and outputs which can be tracked on the transparent ledger. You depend on a wallet application to view the ledger and go through all the transactions ever made with a given bitcoin address to arrive at the amount of bitcoin at your disposal. The UTXO model requires more space on the blockchain to keep track of all the transactions, amounts, and change addresses.
3 Likes
- The account model doesn’t require much space as the UTXO model, why is that a benefit?
The account model is more simpler. By not providing inputs and outputs, it just adds and subtracts from accounts by updating and switching numbers in the database. It takes less space.
- How is the account model not as great as the UTXO model for privacy?
UTXO lets you send money to yourself. There is no way to determine where the outputs go. Bitcoin blockchains wallets finds all UTXOs in the blockchain and adds them together without showing a balance. Ethereum account models stores all transactions that updates accounts. It updates accounts when there are transactions , there are no inputs or outputs.
1 Like
1.Faster transactions and more transaction can be stored in the blockchain.
2.ETH transactions can not be send to yourself. Also it’s easier to track all transactions(A to B)
1 Like
- Less space is always an advantage, especially as the ETH node’s have to store the SC data as well, as the SC status.
- Because it is easier to follow what the balance of a ETH address is.
1 Like
- Increase the storage efficiency of the block.
- Less privacy, easily to know the source of the money and how much it was sent to.
1 Like
- As much as you can save in hardware consuming is a benefit.
- In account mode, you can know who sent you the money. That is why no privacy like UTXO model.
- Using less space is better for the chain. can allow more participants and move faster.
- there is no way of tracking where the original eth came from. it only updates account
hodings.
1 Like
- Less space on the blockchain so you can process more transactions on each block. It’s also a benefit for the miners and the required hardware to run a node
- Balances are sent from one account to another. You can not send funds back to yourself like you do with UTXO. All transactions are traceable and visible on the blockchain
-
faster transactions
-
you can directly trace all transactions
-
It reduces the blocksize needed for the same amount of transactions, which implies a faster network, less lag, smaller total blockchain size and better spreading of the information.
-
Because we can see where every coin is heading. In bitcoin we can send BTC back to us without the exterior knowing.
1 Like
-
It increase the security since more people can afford to store the blockchain as a node. Fees are also lower.
-
It is harder to hide transaction by sending it back to yourself.
- The account model doesn’t require much space as the UTXO model, why is that a benefit?
The account model does not require as much space as the UTXO model, giving the account model greater speed and smaller fees.
- How is the account model not as great as the UTXO model for privacy?
In the sense of privacy the UTXO model is far superior to the account model because in the UTXO model each transaction is able to have multiple senders and receivers, which allows deception and confusion when trying to trace the source of one line of transactions. In the account model, one account is debited and credited, making it easier for any outside eye to keep track of any one account.
2 Likes
1. The account model doesn’t require much space as the UTXO model, why is that a benefit?
As the account model take up less space, more transactions can fit into a block.
2. How is the account model not as great as the UTXO model for privacy?
Transactions made through UTXO models are more difficult to trace because they can have several inputs and several outputs. In addition, the outputs (or some of them) can belong to the sender.
In opposition, with the account models, transactions have only one input and one output. Transactions are therefore more easily traceable which makes them less confidential.
2 Likes
1. The account model doesn’t require much space as the UTXO model, why is that a benefit?
Because the account model doesn’t like the UTXO model, which has input and output, so that saves blockchain space.
2. How is the account model not as great as the UTXO model for privacy?
I DON KNOW
Why in ETC blockchain don’t use bytecode directly instead of using solidity?
- The account model does not lists all the inputs and the outputs and show a balance. You cannot track back a single ETH, like you can in BTC with your UTXOs.
- It is a fungeable model, there is less privacy because you see the transaction and you cannot send money to yourself but it makes the transactions completely visible (money from A to B. in Bitcoin you can do money from A to B, C, A where A has a different address. Nobody will see it and the tx is done simultaneaously).
1 Like