Cryptology ePrint Archive: Report 2017/1095

Analysis of the Bitcoin UTXO set

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

Abstract: Bitcoin relies on the Unspent Transaction Outputs (UTXO) set to efficiently verify new generated transactions. Every unspent out- put, 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 ac- curate 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.

Category / Keywords: applications / Bitcoin, UTXO set, analysis, tool

Date: received 6 Nov 2017, last revised 10 Nov 2017

Contact author: sdelgado at deic uab cat

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Version: 20171110:183926 (All versions of this report)

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