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UTXO Meaning

UTXO stands for unspent transaction output, a fundamental concept in blockchains like Bitcoin that use a UTXO-based accounting model. In this model, each transaction consumes one or more previous outputs as inputs and produces new outputs, some of which are spent (sent to a recipient) and others that remain unspent.

These unspent outputs collectively represent the current balances available to users and can be thought of as individual digital coins. Unlike account-based models, where balances are maintained by updating a single account state, UTXO systems require validating the entire chain of transactions to ensure that an output has not been spent before.

This design provides transparency and enhances security, because each UTXO can only be spent once.

Wallet software builds transactions by aggregating multiple UTXOs to reach the desired amount and then returns any change to a new UTXO controlled by the sender.

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Important Disclaimer:

Finery Markets BVI Limited (“Finery Markets”) provides software, technology infrastructure, and related Information and Communication Technology (ICT) services on a Software-as-a-Service (“SaaS”) basis. Finery Markets acts solely as a software vendor and does not operate a trading platform, does not intermediate, match, execute, clear, or settle transactions, and does not engage in any activities that would require regulatory authorisation under applicable laws.

Finery Markets’ software is non-custodial and is provided exclusively to licensed institutional entities that act as independent operators of their own environments. All counterparties are solely responsible for establishing and maintaining their own bilateral trading and settlement relationships. Finery Markets is not a party to any such arrangements and assumes no responsibility for the conduct, verification, or compliance obligations of any users of the software.

Nothing on this website shall be construed as a financial promotion, investment advice, or an offer to engage in regulated activities. Access to and use of the software is strictly limited to clients who have entered into a software licensing agreement with Finery Markets. Persons located in jurisdictions where such access is restricted should not rely on this website or any of its contents.

Additional notice to UK visitors: This website and associated communications are not intended to constitute a financial promotion under The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) and related guidance. Access to services provided by Finery Markets is limited to regulated entities, professional clients and eligible counterparties as set out by the Financial Conduct Authority. UK users are not permitted to use this website for the services of Finery Markets if they don't fall within these categories.