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203Course · Practitioner

UTXO Model

The accounting system of Bitcoin.

The Course

The accounting system of Bitcoin. This course reads a real transaction, walks Bitcoin Script, and covers every address type from P2PKH to Taproot.

Outcomes

01
Read a Bitcoin transaction.
02
Distinguish UTXO from account model.
03
Construct a script that spends a UTXO.

Prerequisites

— Cryptography Foundations.

Pacing

~3 hours.

IModule
The model
Unspent Transaction Outputs.
1. 01What a UTXO isArticle12m
2. 02Inputs, outputs, and changeVisuals8m
IIModule
Script
The tiny language behind Bitcoin.
1. 01Bitcoin ScriptArticle12m
2. 02P2PKH, P2SH, P2WPKH, P2TRArticle12m

A Note from the Faculty

UTXOs are the reason Bitcoin's state is so much smaller than Ethereum's.