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…Unspent Transaction Output (UTXO) A succinct definition of Unspent Transaction Output (UTXO) Unspent Transaction Output (UTXO)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYUNSPENT TRANSACTION OUTPUT (UTXO)Copy linkShare on TwitterShare on FacebookShare on LinkedinUnspent Transaction Output (UTXO)‘Unspent transaction output’ (UTXO) represents the remaining balance of digital currency following a cryptocurrency transaction. The term is commonly used in cryptocurrency, partic…
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…How Do Bitcoin Transactions Work?Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyUNIVERSITYAltcoins8 Feb 2025|ADVANCED|7 MIN READHow Do Bitcoin Transactions Work?How does the actual Bitcoin transaction process work in detail? In this article, we explain the process and terms like miner awards, nonces, and UTXOs. Key Takeaways: A Bitcoin transaction involves multiple steps that happen behind the scenes after users press the ‘send’ button. The steps involve creating a new unique Bitco…
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…How Do Bitcoin Transactions Work?Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyUNIVERSITYAltcoins8 Feb 2025|ADVANCED|7 MIN READHow Do Bitcoin Transactions Work?How does the actual Bitcoin transaction process work in detail? In this article, we explain the process and terms like miner awards, nonces, and UTXOs. Key Takeaways: A Bitcoin transaction involves multiple steps that happen behind the scenes after users press the ‘send’ button. The steps involve creating a new unique Bitco…
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…How Do Bitcoin Transactions Work?Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyUNIVERSITYAltcoins8 Feb 2025|ADVANCED|7 MIN READHow Do Bitcoin Transactions Work?How does the actual Bitcoin transaction process work in detail? In this article, we explain the process and terms like miner awards, nonces, and UTXOs. Key Takeaways: A Bitcoin transaction involves multiple steps that happen behind the scenes after users press the ‘send’ button. The steps involve creating a new unique Bitco…
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…UTXO A succinct definition of UTXO UTXOLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYUTXOCopy linkShare on TwitterShare on FacebookShare on LinkedinUTXOUTXO, an abbreviation for ‘unspent transaction output’, represents the remaining balance of digital currency following a cryptocurrency transaction. The term is used in blockchain-based systems like Bitcoin. In a UTXO model, any remaining funds after a transaction are stored as outputs for future use in subsequent transact…
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…It represents a tradeable or utility asset built on top of an existing blockchain network.Full definitionTokenomicsTokenomics refers to the structure and governing aspects of a cryptocurrency.Full definitionTower Byzantine Fault Tolerance (Tower BFT)Tower Byzantine Fault Tolerance is a consensus algorithm with a hierarchical structure designed to ensure the security and reliability of distributed systems like blockchain networks.Full definitionTradFiTraditional finance, or TradFi, is a conventio…
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…This implies that the artwork can potentially be altered by third parties if it is not stored on the blockchain. Other Developments in Bitcoin NFTs The Bitcoin Stamps (Secure Tradeable Art Maintained Securely) protocol is a recent development that proposes a different method of embedding image data onto Bitcoin, as compared to the Ordinals protocol. Bitcoin Stamps NFTs are similar to ERC-1155 semi-fungible tokens or digital collectibles, but they are stored on Bitcoin’s unspent transaction out…
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…ORC-20 extends the reach of BRC-20 by accommodating a broader range of data formats and utilising Bitcoin’s unspent transaction output (UTXO) model to address the challenge of double-spending, which has been a significant concern for certain BRC-20 tokens.Key TakeawayThe ORC-20 token standard is an open framework to enhance BRC-20 tokens on the Bitcoin network.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for buildin…
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Transaction Volume A succinct definition of Transaction Volume Transaction VolumeLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYTRANSACTION VOLUMECopy linkShare on TwitterShare on FacebookShare on LinkedinTransaction VolumeTransaction volume represents the total number of transactions of a cryptocurrency traded within a specified time period. High transaction volume often indicates higher liquidity in the market. A more liquid market is generally considered favourable for tradi…
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Transactions Per Second (TPS) A succinct definition of Transactions Per Second (TPS) Transactions Per Second (TPS)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYTRANSACTIONS PER SECOND (TPS)Copy linkShare on TwitterShare on FacebookShare on LinkedinTransactions Per Second (TPS)Transactions per second (tps) is a metric used to calculate how many transactions a blockchain can process in a second. It is calculated using the below formula:(Block Size/Transaction Size) / Block Time …
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