By using an account model rather than the UTXO model, the Ethereum network uses less space on simple transactions, saving room for more complexity in the form of smart contracts. One tradeoff in terms of privacy is that one cannot obscure transactions via multiple recipients or sending part of a transaction back to yourself, and it is possible to see how much ETH is sent, to where, and from whom. However, the absence of UTXO history means all Ether is exactly the same and there is really no way to say which “specific coins” came from which senders, because there are no unique coins, there are only account balances.
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1.). Because it makes it faster and less complicated for nodes. They simply need to record the transaction and not the provenance of the entire blockchain. Less space, faster transactions.
2.). Because the account model retains the coin balance in your wallet whereas the UTXO’s are just in the block with you having the authorization to use them with the private key.
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Less space needed is a savings to the node requiring less data to be stored and maintained.
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UTXO model allows for multiple output, obfuscating recipients, and increasing anonymity
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The benefits of the account model over UTXO model are the transactions are much simpler to express in the code and use less data which means they take up less space in the blocks and there is more space for other data such as the code for smart contracts.
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SInce the Account Model transactions are so simple compared to UTXOs, anyone can look at the Ethereum Blockchain and see exactly how much the transaction is for and which address is sending and which address is receiving the payment. However Ethereum tokens could be considered more fungible than individual Bitcoins which can in theory be traced by the UTXOs history in the blockchain.
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1. The account model doesn’t require much space as the UTXO model, why is that a benefit?
This is a benefit because it saves space, allowing for the network to use it for other information.
2. How is the account model not as great as the UTXO model for privacy?
It does not allow you to send to multiple accounts at one time, thus allowing anyone looking at the blockchain to easily find the amount in the transaction that was sent.
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
- less data, faster, cheaper, more profitable
- How is the account model not as great as the UTXO model for privacy?
- the individual ETH coins cannot be traced to origin therefore all ETH are equal
- the account model updates the balance on the account and on the network rather than this function being an aggregate of UTXOs on a wallet.
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less block space is needed less fee
eth is fungible and btc is more fungible eth has less privacy than btc
- The account model means transactions are smaller, therefore decreasing storage needs and making transactions faster
- In the account model, unlike in the UTXO model, one can easily distinguish the specific sender and receiver of each output (as in UTXO, multiple outputs to multiple people can be in one transaction without showing the amounts)
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More transactions can fit in a block and they can be faster to process and propagate across the network, allowing for more complex transactions within smart contracts.
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It is possible to track the addresses of the sender and recipient and it is possible to ascertain which address belongs to whom more easily than with inputs and outputs as in the UTXO model.
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The smaller the space of the transactions, the quicker the transaction time and more transactions can fit in a block.
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It is less secure as you can publicly see the addresses and follow the transactions.
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The account model doesn’t require much space as the UTXO model, why is that a benefit?
It is a benefit because it takes up less space -
How is the account model not as great as the UTXO model for privacy?
The account model is not as good for privacy because with the UTXO model it may send out more utxo’s than is being send to a recipient. The remainder UTXO that also look like an outgoing would be sent back to the sender but there is no way of seeing that on the blockchain. With the account model you can clearly see the exact amount that is sent to a recipient.
- The benefit of not requiring as much space for the account model is that the block chain will not be so congested and more transactions will be able to be processed.
- The account model can track precisely from whom you received the payment whereas with Bitcoin with the outgoing transactions it is unclear who is the recipient is .
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
- How is the account model not as great as the UTXO model for privacy?
- This would allow more transactions per block, increasing the desirability of cost and speed of consensus due to a smaller block size and therefore faster processing.
- The account model is straightforward transfer of exact totals intended to be processed and does not result in a remaining balance to be returned to the original address. This leaves no question as to where portions of the transaction may be deposited or where the originated
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
Because the tx is easier to complete and reduces the block size. - How is the account model not as great as the UTXO model for privacy? Because you cannot send money back to yourself within the same output; it’s just from one account to another account.
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The account model doesn’t require much space as the UTXO model, why is that a benefit?
It seems to me the benefit of not requiring much space when using the eth ecosystem is the fact that it doesn’t have to lug around all that extra data, which makes the transactions a lot faster and smoother as they move through the ecosystem. Also the eth coins are indistinguishable from each other so extra data relating to the coins history, which accounts for more data that it doesn’t have to carry. also, less data more than likely means less fees.
How is the account model not as great as the UTXO model for privacy?
It seems to me eth ecosystem lacks in privacy because what i see as the 1-1 factor when doing transactions, what i send or receive happens with just 2 wallets interacting with each other, where as in the btc/utxo ecosystem in a transaction i can interact with more than one wallet and no one has to or does know how many parties are involved in the transaction. I can send a utxo from my wallet 2+ wallets all in the same transaction and of those many wallets i’m doing transaction with, 1 or all could be mines along with whoever else is involved.
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- The account model is much more lightweight and it is possible to include much more transactions in a single block. Since contracts and their state changes already require additional space this is a good benefit overall.
- As account model has no UTXOs, it is not possible to send some coins back to your address while still sending some to another address within a single transaction. With the account model you can clearly see how accounts are transacting between each other.
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1. The account model doesn’t require much space as the UTXO model, why is that a benefit?
In account model the transactions contains a transfer of coin between accounts, so the system manage coin transfer with less data space (less resource)
2. How is the account model not as great as the UTXO model for privacy?
Because everyone can see how much you transfer and to who
- Because we do not need to carry around all the data regarding the history of each unit of ETH on the blockchain. This allows faster transactions and fungibility (exchangeability)
- Because you can’t send funds to yourself, anyone can follow where the money went. From address A to address B.
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Do you mean that BTC is less fungible? or non-fungible?
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Hi there! Actually, you can see all data related to addresses (sender, receiver) in both models, but its easier to detect with the account model.
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