1. More space means more transactions and less clogging up the network.
2. Bitcoin (UTXO model) sends any unspent transactions to wallet addresses which makes it difficult for the public to know if the wallet addresses are new entities or the sender's wallet. In the account model you can see and follow every transaction
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
A. It stores less space reducing block size so it’s faster to transact - How is the account model not as great as the UTXO model for privacy?
A. Bc it’s more transparent and is a bit more fungible as it’s a simple transaction that you move A to B and can’t distinguish between tokens and UTXO’s are non-fungible and have multiple transactions in one while not knowing how much went to who as the wallet determines the balance.
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- It is a benificial because it’s simplified and more efficient because account models only needs to verify if the payee has enough balance for the transactions.
- Account models are not as great as UTXO model in terms of privacy because UTXO models can provide new addresses to transactions and also can provide complex schemes such as ring signatures unlike the account models which is a simplified version.
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Blocks can include more transactions.
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You can’t do split transfers where a portion of your transfer comes back to you. This way everyone can see how much you and and to which account.
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The account model doesn’t require much space as the UTXO model, why is that a benefit?
It benefits because smaller space can be processed quicker -
How is the account model not as great as the UTXO model for privacy?
Because you can only transact with one account at a time and is an open network.
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The account model doesn’t require as much space on the block because it doesn’t have to hold the UTXO transactions. Instead, The account model does have balance information.
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With UTXO you can basically follow the bitcoins from the beginning making bitcoin somewhat non-fungible in theory. With Etherium balance model you cannot tell one coin from the other making Eth more fungilble but also hard to check on the blockchain.
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
A. Requiring less space enables transactions to be completed faster and more efficiently.
- How is the account model not as great as the UTXO model for privacy?
A. Transactions can be traced so the amount of ETH sent from one account to another can be observed. With UTXOs there is no way to tell how much BTC has been sent from one wallet to another.
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- The account model not requiring as much space as the UTXO model, is a benefit because an account model transaction can be more easily expressed in code.
- The account model is not so great for privacy as the UTXO model because the eth transaction updates accounts, A transaction on eth doesn’t have UTXO it just moves funds from one account to another.
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- The account model do not have UTXOs transaction this save a lot of space where then you can have more space for transactions in the blocks and also for smart contract.
- In UTXOs model you have high transparency you know exactly where the coins is coming unlike the account model there is not such transparency there is only an update in the account.
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The account model doesn’t require as much space as the UTXO model, why is that a benefit?
A: This is a benefit because more transactions can be a part of each block, which also increases speed of transactions. -
How is the account model not as great as the UTXO model for privacy?
A: The account model is not as great as the UTXO model in terms of privacy because of the total transparency of the amount sent as well as the receiver’s address, there is never an output that can become an input into the original (sender’s) wallet.
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
It improves efficiency. - How is the account model not as great as the UTXO model for privacy?
You can’t send money back to yourself and a recipient in a single transaction. It is more transparent.
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- It will take up less space in the blocks.
- You can’t send to different addresses in one transaction. Also not to yourself.
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Since you don’t have to record all transactions in the Account model, it doesn’t use as much space within the block, making the block lighter instead of heavy.
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The account model is not as good for privacy because it outright declares where the money is going to, and it is a separate transaction for each person that is receiving money, whereas the UTXO model can send monery to several people in a single transaction and you can not know who is going to just by looking at the code within the block.
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The account model not requiring as much space as the UTXO model is beneficial in that it allows ETH to accomplish a larger variety of smart contract programming tasks without worrying about the large amount of cpu power it would normally take to keep track of transactions as the transactions have no inputs or outputs but are simply a consensus update of the balance
It is not as great as the UTXO model for privacy as the ability to send BTC to someone else and yourself is not something that can be done with the account model. Nor can it be sent to multiple parties, and the transaction is simply from one to another rather than quantifying UTXOS to find a balance.
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- The account model doesn’t require much space as the UTXO model, why is that a benefit? it is less taxing on the network kind of like with BTCs Segwit relieving the space from signatures the more space we can free up the more efficient the network will run, cost, speed etc.
- How is the account model not as great as the UTXO model for privacy? you can not trace back coins because the balance is finalised within the transaction so -1 ETH from A and +1 ETH for B the result is just a new balance rather than the ability to trace back eth, the reason it is not so private is because there is no need to send “change” back to yourself so the transaction is clear and transparent from A to B and you can not wash part of that back to your address.
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
Ethereum blockchain doesn’t take up as much space, making it easier for nodes to store it. This means potentially higher levels of decentralization since running a node isn’t as difficult.
- How is the account model not as great as the UTXO model for privacy?
The account model isn’t as great as the UTXO model for privacy because there is no such thing as multiple outputs, where you can send money to multiple addresses, whether that be to yourself, others, or a mix of both.
With the account model, you just send 1 amount to 1 address, making it easier to determine where funds are going (vs. multiple destinations)
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- The account model doesn’t require much space as the UTXO model, why is that a benefit?
The amount of data needed to change account balances during a transaction is significantly less than the data needed to Track and push all UTXOs during a transaction. A decrease in data needed per transaction means more transactions can be included in a same size ETH block, faster propagation of a transaction on the network, and lower fees. Unlike Bitcoin, Ethereum may have an infinite number of programs that need to operate at any one specific time this decrease in the amount of data will help with scalability on the longest time frames.
- How is the account model not as great as the UTXO model for privacy?
With the UTXO model each transaction may have multiple inputs and outputs where as a transaction in the account model is limited to one “output.” The ability to have multiple inputs and outputs makes it harder to determine where the currency is flowing to and from.
Example: I create a transaction with three UTXO inputs and three outputs, two of which go back to new/unused addresses owned by me and only one output goes to a secondary party.
As the addressees are designed in 26 - 35 character strings that seem random(though they are created systematically) it is hard to differentiate which of the outputs goes where. Although on the Ethereum blockchain each transaction has only one “output,” a smart contract can assign multiple outputs.
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1.) Because it doesn’t take up too much space it basically is one line of code that says transfer this to person B. this makes it easier for nodes to store since of the smaller size and makes it easier to run a node.
2.) Due to it not being fully traceable like the UTXO model. with UTXO you can trace it all the way from its origin. UTXO uses multiple outputs and sends it to multiple addresses.
The account model lets you just make a tiny piece of code where you sent an amount to 1 address and that’s it.
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Homework: UTXO vs. Account Model
Using less space to log transactions allows for smaller block size (or more transactions per same size block), quicker synchronization between nodes, and faster processing.
The account model does not allow for multiple outputs so each transaction logs exactly how many coins were sent to a specific address. This makes it easier to determine what funds are sent to who. The UTXO model allows for some “plausible deniability” where the multiple outputs (recipients) could be for a payment to another party or simply back to yourself.
It could be argued that the account model provides a different type of privacy because coins are truly fungible. A coin in a wallet is not distinguishable from the others in that wallet, whereas “coins” in the UTXO model are traceable back to their creation.
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- The benefit is that the code for each transaction is shorter, thus there is more space for the other data like smart contracts and states of constracts etc
- Because in the account model you don’t have UTXO’s, its not possible to track them through the blockchain from their origin at the miner. The account model just updates the “balance” with numbers (“this 1 went from A to B and now A has 4 ETH and B has 1 ETH”) and doesn’t track each individual “coin”, so each Ethereum coin is equal to each other ETH coin. Thus it’s more fungible but in turn, slightly less private.
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