$BTC #trading Electronic Coins

We define an electronic coin as a chain of digital signatures.

- Satoshi Nakamoto, Bitcoin Whitepaper

In Bitcoin, transactions are built by referencing unspent digital coins ca

Outputs’ or “UTXOs” in transaction inputs. To be spent, the input must also include a solution to

the script puzzle contained in the output which locks the satoshi tokens it holds. In almost all

cases one part of this script puzzl

that holds custody of the UTXO.

The tokens (coins) are spent into the transaction and redistributed into new unspent transaction

outputs, consuming the UTXOs reference by the inputs in the p

history can be mapped as a chain of valid script solutions or digital signatures. This chain leads

Electronic Coins

We define an electronic coin as a chain of digital signatures.

Satoshi Nakamoto, Bitcoin Whitepaper

In Bitcoin, transactions are built by referencing unspent digital coins called ‘Unspent Transaction

Outputs’ or “UTXOs” in transaction inputs. To be spent, the input must also include a solution to

the script puzzle contained in the output which locks the satoshi tokens it holds. In almost all

cases one part of this script puzzle requires a valid digital signature to be provided by the party

that holds custody of the UTXO.

The tokens (coins) are spent into the transaction and redistributed into new unspent transaction

outputs, consuming the UTXOs reference by the inputs in the process. In this way, a coin’s

history can be mapped as a chain of valid script solutions