Homework on UTXO vs Account Model

Ethereum 101
#3290

  1. Less space are use to store all transaction and balance on the blockchain.

  2. The account model without UTXO make all transaction visible between the 2 account. It is easier to trace and check where those transaction originally come from.

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#3291
  1. it makes things cheaper and faster,
  2. Since people can see all the transactions from where it came from to where it has gone, since it doesn’t have multiple outputs
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#3292

  1. Smaller sized transaction data makes them easier to process by the network.

  2. The account model doesn’t show each individual coin’s history like the UTXO model does.

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#3293
  1. it doesn’t take as much space on the blockchain to store the information.
  2. in UTXO you can send the money in one transaction out to another wallet and yourself and there’s no way to distinguish which amount was sent to each wallet. In account model the balance updates depending on how much money was sent and received, and transactions can be traced.
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#3294
  1. The account model doesn’t require much space as the UTXO model, why is that a benefit?
    One block can store more transactions. This will increase storage.
  2. How is the account model not as great as the UTXO model for privacy?
    With the UTXO model it is hard for the public to know which amount of money goes where/to whom.
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#3295
  1. The account model needs to only track the ballance of the wallet and not the UTXOs. Benefit is that it doesn’t take so much space on the blockchain for storage on information.
  2. Account model has less privacy because it only tracks the balances and other participants in the network can see the exact value you sent to another adress. In UTXOs a single TX can have multiple outputs/inputs and allow users to send funds back to their own adress thus increasing privacy.
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#3296

1.Saves space, more space for transactions in the block = less TX time.
2.We just send from address A to B hence recipient can be identified easily whereas in UTXO model a single transaction can involve many address which is harder to track = better privacy

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#3297

1.You can send information more efficiently.
2.You cannot send yourself back eth in the same tx like you can in bitcoin. You can see both addresses .

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#3298
  1. The account model is a benefit because each block can have more transitions leading to smaller fees.
  2. Your exact transaction can be followed from your wallet, unlike bitcoin that will send money back to you keeping which keeps the exact amount of money you sent hidden.
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#3299
  1. This could be seen as a benefit because the bulk of transactions will take up less space.
  2. The account model will show the transaction that was made from one account to another. It is characterized as fungible since you there is not a tracking and traceability system like bitcoin would have. The UTXO model captures the history of inputs and outputs.
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#3300

  1. The account model doesn’t require much space as the UTXO model, why is that a benefit?
    Less space per transaction allows more transactions per block.

  2. How is the account model not as great as the UTXO model for privacy?
    The account model is much more transparent and straight forward whereas the UTXO model sends multiple transactions simultaneously.

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#3301
  1. It is a benefit because transactions are faster.
  2. The account model is traceable and you can see exact amount that was sent.
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#3302

  1. It is a benefit as faster processing times can be achieved and more TX’s can fit into the block.

  2. Due to the fact that anyone from the outside looking in would be to view the blockchain and see precisely the TX details, namely how much money was being sent and to which address it was being sent to. Further, this would result in two scenarios - either the address belongs to you or it belongs to someone else. Moreover, it is not technically possible to send one tx output and have part of that tx redirect payment back to yourself.

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#3303
  1. The account model doesn’t require as much space as the UTXO model, why is that a benefit?

The less data that needs to be stored, the overall more efficient the model. For an account based model, there are no inputs and outputs needed.

  1. How is the account model not as great as the UTXO model for privacy?

Using UTXOs you can send multiple outputs in a transaction where you can send BTC back to yourself and there is no way to tell which output went where (greater privacy).

With account-based you do not receive any change back to yourself, you send exact amounts, from the outside viewing the blockchain you can see the exact amount sent and to who it was sent to (address wise, someone else’s, or another personal address).

With the account model (ETH) you can not track each single output like in BTC, ETH is more fungible where 1 ETH is always = 1 ETH. All ETH is the same where BTC is not and is distinguishable.

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#3304

wow I really did not fully understand the logic in this lesson. Here goes.

  1. It is a benefit because more space allows for less latency (less delay - faster).
  2. Hmmm…UTXO model is run by theoretically anonymous ‘wallet address’ transactions. But the account model is centered around updates within each account. Accounts are easier to trace than a bunch of random transactions going all over the place. Okay, I’m confused. Sorry…
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#3305

  1. The account model doesn’t require much space as the UTXO model, why is that a benefit?
    This is a benefit as more transactions can be completed on the blockchain and therefore can execute smart contracts without slowing down the blockchain. This is needed especially for Ethereum network as there are many ERC20 tokens on the network.

  2. How is the account model not as great as the UTXO model for privacy?
    The account model makes it easier to link transactions to a single user.

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#3307

  1. It allows more space to store more transactions in each block.

  2. In the UTXO model, you can spend UTXOs to send to yourself and it would be difficult for others to tell whether you spent the UTXO to send to yourself or to someone else. In the account model, account balances are updated when transactions happen so it’s more difficult to send ETH to yourself without anyone knowing.

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#3308

  1. The account model doesn’t require much space as the UTXO model, why is that a benefit?
    First it is consuming less space
    each ETH in wallet/account is the same as the other there is no way to find out which of the ETH came from who once they are send - fungible currency

  2. How is the account model not as great as the UTXO model for privacy?
    everybody can see which account sent ETH to which account as it is build on Account Balance. BTC could send multiple inputs to multiple outputs and we can only guess which outputs have the same owner.

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#3309

  1. The account model doesn’t require much space as the UTXO model, why is that a benefit?
    Less space allows for more transactions to occur. blocks are smaller (can store more tx) and faster.

  2. How is the account model not as great as the UTXO model for privacy?
    The UTXO model has multiple outputs which is harder track where the money is going. In the Account model it is easy to track the address of who sends and receives the money.

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#3310

  1. The account model doesn’t require much space as the UTXO model, why is that a benefit?
    You can fit more transactions on a block since each transaction requires less space. This can make it faster.

  2. How is the account model not as great as the UTXO model for privacy?
    Bitcoin allows you to send money to yourself but to the outside, they wouldn’t know. So it will show that you sent out bitcoin and nobody would know that you actually sent it to yourself. Etheruem doesn’t use UTXO therefore you from the outside anyone can see exactly how much you sent and to which address it was sent.

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