#Bitcoin Term: "UTXO"
In the Bitcoin protocol, the acronym "UTXO" stands for "Unspent Transaction Output". (Think of a UTXO as a chunk of money ready to be spent.)
A bitcoin wallet balance is the sum of the UTXOs controlled by the wallet's private keys. (Think of private keys like signature on old-school paper checks which make them cashable.)
Yes! -- See: also 'deterministic' -- The fact that UTXO's also ....settle/push forward....allows for smoother settlement even with global, high-volume, activity ...where smart contracts do not have to rely on a 'static' or 'determined' value in an account...which can create serious issues and bottle-necks in 'accounts based' projects like ...say...ETH/Ethereum---when multiple transactions occur at once... waiting for a 'global account value' to update before transaction can settle...can lead to serious time lag or even...smart-contract tx fail...etc. --This doesn't happen with 'Unspent Transaction Outputs'--- UTXO technology ---'The Fruit of Satoshi Nakamoto' ftw!!! --- Let's get it!
