Back to Glossary
On-ChainU
UTXO
Unspent Transaction Output, the fundamental unit of accounting in Bitcoin and similar blockchain networks that use the UTXO model rather than account-based balances. Each UTXO represents a discrete chunk of cryptocurrency that has been received but not yet spent, and transactions consume existing UTXOs as inputs while creating new UTXOs as outputs. A user's total balance is calculated by summing all UTXOs controlled by their private keys.
Example
“The wallet showed a balance of 0.5 BTC composed of three separate UTXOs: 0.2, 0.15, and 0.15, each from a different previous transaction.”