1. It is beneficial as this allows for cheaper transaction fees. Every transaction is smaller and blockchain node file grows slower. Transaction processing is easier, more efficient.
2. Account model is not as great as the UTXO model for privacy because account balances are public. You cannot obfuscate your intentions with dummy transactions.
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The account model doesn’t require much space as the UTXO model, why is that a benefit?
Because it makes the block’ transactions and balances simpler compared to the UTXO model.
How is the account model not as great as the UTXO model for privacy?
Because it cannot be traced back to the entirety of the history of the units of account, this means that ETH is kind of more fungible than Bitcoin in the sense that one Ethereum in the accounts is recognized as one Ethereum instead of a series of balances from different sources (that could be black listed in certain exchanges or not).
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The account model doesn’t require much space as the UTXO model, why is that a benefit?
Makes it simpler: Less hard computationally, also, less space. -
How is the account model not as great as the UTXO model for privacy?
In the UTXO model, you can send, in one transaction, money back to your own account, and you won’t know which amount of BTC went to your account or an external account, and can effectively make it harder to trace what happened. With ETH accounts, you see 1:1 which one account sent money to the other account.
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
Because it does not need to keep all the Input Transactions. - How is the account model not as great as the UTXO model for privacy?
Because the sender and receiver is visible.
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
- Transactions require less space to transact bc you don’t need to add up a bunch of UTXOs
- ETH is more fungible: 1 Eth = 1 Eth
- How is the account model not as great as the UTXO model for privacy?
- The account model does not have multiple addresses to obscure recipient / sender info and transactions can easily be traced back to the sender / recipient account
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- Data saving that can be used to get many transactions in a block and less TX time.
- Account model can involve sending the token to a single recipient address. That’s why the recipient can be identified. In the UTXO model, a single transaction can involve sent to several addresses simultaneously. that’s made it harder to identify who received it.
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1.Any amount of space that can be saved on the blockchain is an added benefit.
- Transactions are more traceable from wallet to wallet, inputs and outputs.
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1.smaller blocks, faster confirmation, more usability for the individual.
2.you can see the address that it came from.
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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?
Smaller block size.
A good analogy is when you do a bank transfer is just number on screen it can be millions but no big a computer data volume.
In other hand when you use UTXO is like using notes if you need to pay 75 USD and only have 100 USD note you have to take money (note) calculate the change and return the remain change, plus if it big amount or volume you can image when we go…
- How is the account model not as great as the UTXO model for privacy?
Its easy to track the transaction wallets from accounts and to accounts.
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
So it can contain Smart Contracts.
- How is the account model not as great as the UTXO model for privacy?
It has no multiple inputs and outputs, you can not send part of the transaction back to yourself.
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The process of purchasing and selling cryptocurrencies become incredibly simple; For example, 6 ETH needs to go from account A to account B, that is the code. Which is easy to implement.
The UTXO model allows having multiple transaction outputs for a single order. This model doesn’t allow for outside viewers to differentiate the accounts tied to the specified accounts. The account model strictly follows a single transaction output per single order. Making the process less secure as outputs can be traced.
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
- The space is a benefit itself
- Simplefied short codes (ex., A transfer 1ETH to B)
- How is the account model not as great as the UTXO model for privacy?
- Transactions are account bound and don’t allow for multiple In-and Outputs
- Account bound transactions are easy to track, due to the display on the blockchain and who received the transaction is clear as well
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1. The account model doesn’t require much space as the UTXO model, why is that a benefit?
Easier and more efficient transactions.
2. How is the account model not as great as the UTXO model for privacy?
You cannot “hide” transactions by splitting them up as different outputs. There is no way to send funds back to your own account and at the same time send funds to another account. This makes transactions more traceable.
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- A smaller transaction size = more capacity on the network for instance
- you can trace every BTC “coin” by following the transactions to see when it was mined, due to being non-fungible
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
Transactions also take less space and therefore are faster and cheaper. It is more fungible because 1 ETH = 1ETH without history. There are no good or bad coins.
- How is the account model not as great as the UTXO model for privacy?
Because it is not possible to send money back or split transactions to many recipients. Easier to track from outside.
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1. The account model doesn’t require much space as the UTXO model, why is that a benefit?
It’s a benefit because it’s smaller and more efficient code in the blockchain.
2. How is the account model not as great as the UTXO model for privacy?
It’s more transparent to track where the funds came from and where they go. There isn’t as much anonymity in Ethereum.
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- This leads to faster updates of the blockchain. Also, the less information increases fungibility.
- The ETH transactions are traceable without any possible obfuscation via “paying yourself back”.
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The account model doesn’t require much space as the UTXO model, why is that a benefit?
It allowes for more transactions to fit in a block and transactions are faster as well. -
How is the account model not as great as the UTXO model for privacy?
In Ethereum you have only “send money from A to B”, anyone from outside can see the address you sent money to and the amount. In Bitcoin you can have multiple outputs and can send money back to yourself without anyone being able to tell which amount is going back to you or the other recepient. In Ethereum you cannot have multiple outputs.
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- It’s quite simple and data is smaller compared to UTXO model.
- Account balances are public
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
Because the txs don‘t take up as much space as with the UTXO model, due to not having to store all UTXOs, but only the single transactions. As a result one block can store much more txs and therefore the transactionspeed is higher. Also the account model makes the currency more fungible than bitcoin, as for the reason of non traceability. So no one could possibly know if the „coins“ e.g., decend from a hack and therefore could be blacklisted.
- How is the account model not as great as the UTXO model for privacy?
With the UTXO model you can have many outputs and no one can distinguish if those outputs go to the recipient or back to an adress of yourself. Contrary with the account model this is simply not possible because one account just sends one transaction to another account. Combinations of transactions (many outputs) are not possible. Therefore if one knows you address he can trace back all transactions back to you.
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