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UTXO

The Unspent Transaction Output or UTXO is a model used by Bitcoin blockchain to keep track of ownership and transactions. The unspent coins from a transaction are stored and therefore, becomes spendable for the next transaction. Conversely, the output, or informally the change, leftover from each transaction becomes an input in the next transaction, thereby creating a “chained” series that tracks the ownership of the coin.
Glossary