Unspent transaction output

An Unspent Transaction Output (UTXO) is a concept used in blockchain and cryptocurrency systems, particularly in Bitcoin. It refers to the outputs of a blockchain transaction that have not yet been spent or used in another transaction. Understanding UTXOs is essential for grasping how transactions are processed in such systems. Here's a breakdown of the concept: 1. **Transaction Outputs**: When a cryptocurrency transaction occurs, it involves inputs and outputs.