The blocks can fit more data, increasing storage efficiency.
The accountability can be represented as going from A to B. Whereas the UTXO model can have several inputs and outputs making it harder to track the transactions.
Account model, as Works just with account updates and not UTXO, transactions take less space, easy to express and it optimize speed processing and storage capacity.
Account model allows to know from where trasactions comes and goes in a simple updated balance of a single transaction. Utxos doesnt allow to know where outputs actually goes due to the multiple alternative of the network, harder to determine.
account model allows for more efficient processing as each transaction take up less space, hence can handle more transaction. Also allow ETH to support smart contracts and its states in the blockchain.
in bitcoin’s UTXO model, no one knows how much coins anyone has, only the person control the private key knows how much coin one has by adding up all the UTXOs. with UTXO, you can even send money back to yourself, and no one will know if that transaction is for yourself or someone else. Where as account model shows how much each party owns.
The account model doesn’t require much space as the UTXO model, why is that a benefit?
Ans: Higher speed of processing and better efficiency.
How is the account model not as great as the UTXO model for privacy?
Ans: Because you cannot send ETHs back to yourself (Not sure if this is the correct answer).
Less space equals less processing power, quicker transactions, and more transactions can fit in each blockn which makes ETH more scalable than BTC
The account model carries the work that a wallet would do and track all transactions on the blockchain. By inputing an address in etherescan, you can see the balance held by the acocunt. You can do the same with bitcoin, but you would have to track each input and output. Also, account model does not give the possibility of multiple transactions. UTXO on the other side can have multiple inputs and outputs.
The account model doesn’t require much space as the UTXO model, why is that a benefit?
Smaller transaction sizes means more transaction speed and volume
How is the account model not as great as the UTXO model for privacy?
You cannot mask transactions that you send back to yourself
The account model doesn’t require much space as the UTXO model, why is that a benefit?
A. Since the account model requires less space when the transaction is created the benefit
of less fee’s possibly and taking less block space compared to a more complex model (BTC)
that uses utxo’s seems likely.
Also the method of updating balances compared to totaling utxo’s is simpler.
How is the account model not as great as the UTXO model for privacy?
A. Because the UTXO model allows for transactions to be sent to multiple recipients
and back to yourself all within the same transaction increasing anonymity. The
account model is more straight forward, who sent it, who received it.
The Account Model only records the balance, which makes takes less space for nodes, is faster to process updates to the blockchain and can fit more transactions per block. It is also more fungible as unable to distinguish the history of the ETH coin.
Bit less private as no way to send funds to more than one address in one single transaction. For example have one transaction split and part of funds are sent back to your own address.
Since the network keeps a balance of the accounts, the transactions don’t have to search for UTXO’s available. This can make the transaction smaller and faster.
The ETH network sends transactions between accounts, and therefore it is clear which accounts participate in every transaction.
2.The account model is not as great as the UTXO model for privacy. you can have several outputs at the same time and can hide, to whom and how much you are sending.
Smaller transactions, which means cheaper transactions (rewards are per byte) and faster propagation through the network.
With Ethereum the account balance cannot be spent towards multiple destinations in a single transaction, which could with UTXOs could have included new wallets owned by yourself.
More transactions can fit in a block.
Because in the UTXO model you can send money back to yourself and no one will be able to know that. In the Account model it is not possible to send back to yourself unspent transactions, because it will just simply update your account, when you will spend something.
The benefit of account model using less space than the UTXO model, and more allows for faster transactions speeds per minute and more transactions per block.
Privacy in the account model is not as great as the UTXO model. Transparency is at the core of Ethereum, its used as a security method, therefore addresses are easily traceable to a particular source everytime. In the UTXO model many addresses can be used to facilitate the same source and will not be easily traceable to the source.