An independent examiner has revealed shocking details surrounding the inner workings of Celsius – a crypto lender that filed for bankruptcy in July 2022. The examiner claimed that Celsius did not operate by the business model that it presented to customers. He likened it to a Ponzi scheme, much like FTX – a company that happened to have used the same accounting software: QuickBooks. The Truth About CEL Token Per a filing from examiner Shoba Pillay on Tuesday, Celsius had…
Unspent Transaction Output
What is UTXO (Unspent Transaction Output)?
In the Bitcoin protocol, UTXO stands for Unspent Transaction Output. It is the basic building block of the Bitcoin blockchain and is used to record a certain amount of Bitcoin ownership. When a new transaction is created on the Bitcoin network, it includes one or more inputs, which are references to UTXOs that the sender uses to provide the funds for the transaction. The transaction also includes one or more outputs, which specify the new ownership of the funds being…
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