Just wanted to remark that the questions or not shown for me beneath the video.
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1.)The account model doesn’t require much space as the UTXO model, why is that a benefit?
-With the UTXO model in bitcoin it tracks the numerous inputs and outputs of each transaction which requires a lot of space. With the ethereum account model you do not have to track these UTXO’s which leads to more space, more transactions per block, and more scalability.
2.)How is the account model not as great as the UTXO model for privacy?
-With the UTXO model you can send funds to someone else and back to yourself in the same transaction. This makes transactions a bit more private as it is hard to decipher where funds are being sent. The account model allows you to send the exact amount but not necessarily to more than one recipient in the same transaction which makes it easier to know who the recipient is. This makes it less private.
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1: This is a benefit because every node needs to have the SC data so this leads to more people using the network as a whole.
2: The Account model is not as transparent as you cannot trace the origin of every coin. So you can never see where the coin was spent in the past if it was in a hack or another type of investigation.
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
Allows for more tx’s per block and greater scalability.
- How is the account model not as great as the UTXO model for privacy?
Balances are public and can’t sent back to yourself amongst other outputs.
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- The Account Model doesnt require as much space as the UTXO model because it is simply a Transaction of ETH from account A to account B. This is a benefit in size of the Blockchains and ultimately the time it takes to run the transactions on the Network.
- The Account Model is not as great for privacy because from the outside you can check the exact amount of money transferred, whereas in the UTXO there is typically an amount returned to the sender.
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
- Bitcoin accounts need to sum the UTXOs an account controls compared to Ethereum which holds an account balance just like a bank account balance. Less space means more scalability, shorter block times, and faster txs.
- How is the account model not as great as the UTXO model for privacy?
- The UTXO model is more private since you can send Bitcoin back to yourself in a way that is difficult to track compared to Ethereum’s account model. Bitcoin accounts do not hold balances in the same way as Ethereum does.
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The account model is made up of smaller transactions and lower fees so more transactions per block and less storage. This is beneficial over the UTXO model because the coins are fungible, so no coin tracking, updates are used, and the balance can be added to and subtracted from securely.
With the UTXO model, transactions are on a public transparent blockchain. The account method does not allow tracking transactions because the coins are fungible and deposits and withdrawals are recoded in your account, not the actual coin.
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It would make smaller block size so more transactions can be done at a time.
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It is harder to hide what you spend since you have only one input and one output. In the UTXO model you can have multiple outputs
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
More tx’s can be added to a block and will make tx’s faster. - How is the account model not as great as the UTXO model for privacy?
Tx’s are a little less private because tx’s can still be seen … but you can only send to a single other address. The UTXO model allows someone to send an input to various outputs.
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- Smaller block size makes the TX’s faster, in turn, lower fees.
- Account model is not as private due to public apparency.
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Space savings is always a good thing.
The account model doesn’t allow for untraceable or unverifiable transactions that can be done through utxo’s by sending money to multiple addresses in one transaction where one or both could be owned by yourself.
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This allows for transactions to be executed at higher speeds for lesser fees.
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With the UTXO model, users can conduct transactions using a different address each time. This can be used for the protection of the user’s privacy. The public ledger in the UTXO model consists solely of that have created transactions. With the account model, the total amount of currency is displayed on the ledger. This can be detrimental to the privacy of users.
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The account model doesn’t require much space as the UTXO model, why is that a benefit?
The action is condensed and the blockchain can have more transactions stored. -
How is the account model not as great as the UTXO model for privacy?
Account models allow for tracking all transactions. The UTXO model has many inputs and outputs, so it is not easily trackable.
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It makes smaller transactions therefore blocks are more efficient and faster.
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Because from the outside anyone can see how much money was sent to which address exactly and knowing it was received.
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1.The account model doesn’t require much space, because each transaction just updates accounts and it doesn’t have inputs and outputs filled data. And it takes less space in the Ethereum network and makes transactions fungible and hard to distinguish coins.
2. Ethereum account model lacks privacy because its not able to send transaction to multiple people at same time. It can only be sent to one party at a type making transaction easier to trace.
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
This is a benefit because the Ethereum network already has a lot less scalability due to its increase in sizes in blocks due to the smart contracts. By getting rid of the UTXO model you can at least save some space in the blocks by eliminating the several inputs and outputs that need to be stored in the UTXO model which will save some space to make Ethereum able to work a bit faster at less transaction fees than it normally would have if it kept the UTXO model and added smart contracts as well. It is also more fungible because you cannot backtrack a transaction through UTXOs although I’m not sure whom would consider that beneficial vs not beneficial. - How is the account model not as great as the UTXO model for privacy?
It is not as great as the UTXO model for privacy because in the UTXO model there are numerous inputs as well as numerous outputs. From an outsiders perspective it will be impossible to tell who the outputs are therefore they will not know how much you are actually sending back to yourself which increases privacy. In fact if I understood the lesson correctly it sounds like there are actually no outputs in the Ethereum account model. Instead there is just tracking of your total number of coins which gets added and subtracted from in the Ethereum network.
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- You can fit more transactions into a block.
- a utxo can have many outputs and its impossible to know witch of them are yours and witch are not.
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Homework on UTXO vs Account Model - Questions
- The account model doesn’t require much space as the UTXO model, why is that a benefit?
ITs simpler toi represent in code.
- How is the account model not as great as the UTXO model for privacy?
you cannot add outputs that confuse the viewers as too whether the transaction goes back to you or to someone else. however, each OTXo can still be tracked to all addresses it ever went to. So its a bit of both
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
The blocks can include more transactions, thus is really crucial for etherum as they have alot of erc 20 tokens. - How is the account model not as great as the UTXO model for privacy as it is easy to see were the transaction came from and wants to go to.
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1. The account model doesn’t require much space as the UTXO model, why is that a benefit?
For Ethereum simple send Tx stores much less data and takes less computing to process the each Tx. This speeds up the network and makes it more efficient with shorter block times.
2. How is the account model not as great as the UTXO model for privacy?
The Ethereum Tx shows the exact amount sent to each address and its balance of that address making less private. It also shows all interactions on that address and any other tokens held. The UTXO model with multiple unspent Tx and multiple outputs makes it harder to know the balance and what amount was sent to other addresses giving a greater degree of privacy.
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