Analysis of the Bitcoin UTXO set

Sergi Delgado-Segura; Cristina Pérez-Solà; Guillermo Navarro-Arribas; Jordi Herrera-Joancomartí

doi:10.1007/978-3-662-58820-8_6

Analysis of the Bitcoin UTXO set

Sergi Delgado-Segura^*, Cristina Pérez-Solà, Guillermo Navarro-Arribas, Jordi Herrera-Joancomartí

^*Corresponding author for this work

Department of Information and Communications Engineering

Research output: Contribution to journal › Article › Research › peer-review

34 Citations (Scopus)

Abstract

Bitcoin relies on the Unspent Transaction Outputs (UTXO) set to efficiently verify new generated transactions. Every unspent output, no matter its type, age, value or length is stored in every full node. In this paper we introduce a tool to study and analyze the UTXO set, along with a detailed description of the set format and functionality. Our analysis includes a general view of the set and quantifies the difference between the two existing formats up to the date. We also provide an accurate analysis of the volume of dust and unprofitable outputs included in the set, the distribution of the block height in which the outputs where included, and the use of non-standard outputs.

Original language	American English
Pages (from-to)	78-91
Number of pages	14
Journal	Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
DOIs	https://doi.org/10.1007/978-3-662-58820-8_6
Publication status	Published - 2019

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AU - Navarro-Arribas, Guillermo

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AB - Bitcoin relies on the Unspent Transaction Outputs (UTXO) set to efficiently verify new generated transactions. Every unspent output, no matter its type, age, value or length is stored in every full node. In this paper we introduce a tool to study and analyze the UTXO set, along with a detailed description of the set format and functionality. Our analysis includes a general view of the set and quantifies the difference between the two existing formats up to the date. We also provide an accurate analysis of the volume of dust and unprofitable outputs included in the set, the distribution of the block height in which the outputs where included, and the use of non-standard outputs.

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Analysis of the Bitcoin UTXO set

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