Hello sir, i do not understand well the answer: you mean the account model is fungible and not easy to track ? And the UTXO model is not fungible and more easy to track?
If you have any doubt, please let us know so we can help you!
Carlos Z.
Hello sir, i do not understand well the answer: you mean the account model is fungible and not easy to track ? And the UTXO model is not fungible and more easy to track?
If you have any doubt, please let us know so we can help you!
Carlos Z.
2. How is the account model not as great as the UTXO model for privacy?
Hello sir, did you forgot to type the answer?
If you have any doubt, please let us know so we can help you!
Carlos Z.
The space saved in the account model is a great benefit because it increases the scalability of the blockchain, less space is required for a node to store an entire blockchain as a result.
In the account model, there is no way to send money back to yourself. People can see how much money you are sending, the exact address, and if the other party received it.
Hello Carlos! I just don’t know the answer and left it empty to fill it up later.
1- It’s benefit because more space equal faster data.
2- because you can trace the transaction history easier.
The account model only stores the total balance and does not list out all UTXOs associated with a wallet. Thus the bytes required for an etherium transaction is less which increases the number of transactions that can be stored per block.
It does not remove the anonymity of who the reciepients and payees are in a transaction the same way a UTXO based transaction does since you can’t send funds to yourself.
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Homework on UTXO vs Account Model - Questions
The benefit is transaction speed, thus ETH having a higher TPS then BTC. With the Eth Network a balance is already a known then it is a matter of adding of subtraction. BTC Network on the other hand needs to add up all the UTXOs, and then the sum total is your balance. From the sum, then the actual transaction of addition or subtraction can take place.
It is not as great for privacy because on the ETH Network there is no way to send yourself a transaction to obscure who is the sender to receiver. Compared to BTC you can send a transaction to yourself so from the outside the sender and receiver can not be distinguishable.
To put it a different way, from a UTXO Model you could create a transaction to be sent back to you , all in one transaction, with this additional transaction to create a loop where the beginning and end remain connected, thus unknown.
Oops I might got confused there.
For shure I know the difference between ETH and ETC, seems like i just mixed them up.
Thanks for the feedback!
Every transcation in the account model makes one output, which leads to space saving. Any space saved is a benefit. You see the network full nodes are meant to be operated by individuals, rather than data centers, the lower the data is, the more participants.
2/ How is the account model not as great as the UTXO model for privacy ?
The UTXO model, provides a higher level of privacy because the users USE new addresses for each transaction, & that will make it difficult to link accounts to each other.
The Ethereum account model, you just have Txs that add or remove your balance, which you can see
which accounts have sent you, also you can see which coins.
what you cant see, is which individual coin represents each transaction.So whilst you can see who has sent you money once you have received your money ( Eth ) they are all the same.
It is an advantage for the account model to not require as much space as a UTXO because it provides space for Txs and does not spam the network with data.
In the UTXO model, it is more difficult to track what Txs go to whom wheras the account model is more transparent to follow the movement of funds to individual accounts.
No problem sir, we are here to help you clear any doubt you may have, dont be shy to ask for our help!
2. How is the account model not as great as the UTXO model for privacy?
The account model require less space than UTXO model because transactions are smaller in bytes, making each block more efficient and faster to mine in order to handle even more different type of data (like smart contracts transactions from dapps).
Hope this gives you a clear view of the subject, keep learning!
Carlos Z.
More space for txs in every block. Less costly mining (and fullnode) eq. Makes it more decentral.
With bitcoin there are only UTXOs which are added by a wallet service to then show your balance. With UTXOs you can send money to some people and yourself in one single transaction, making it practically undistinguishable, who gets what. With Ethereum everyone has an account with a balance. With the account system it just says, minus 1 eth from account a; plus 1 eth to account b - it doesn’t make sense to send money to yourself.
Greater storage capacity.
Everyone can see how much was sent to who.
Thank you very much!