UTXO model and account model

In the unspent transaction output (UTXO) model, the transaction uses unspent platform coins as input, at this time the input UTXO will be invalidated, and the output is another UTXO, and the result of the change in the number of platform coins will be returned to the sender. A certain amount of platform currency is transferred between different private key holders, and the new unspent transaction output is spent in the transaction and recorded on the block. In platform currency transactions, UTXO can be unlocked with the secret key generated by the public key address of the transaction recipient. It should be noted that miners generate platform coins in platform transactions, and this process does not include any input. At the same time, Bitcoin can only perform limited operations using the scripting language, and performs data processing in the form of a stack (divided into the main stack and the Alt stack), and follows the "last in, first out" (LIFO) principle.

The developer has defined five transaction standards on the platform currency client, namely: P2PKH (Pay to Public Key Hash), P2PK (Pay to Public Key), multi-signature (less than 15 private key signatures), P2SH (Pay to Script Hash) and OP_RETURN. Using these five transaction standards, the platform currency client can satisfy complex payment logic. In addition, if the miners agree to encapsulate non-standard transactions, the platform currency client will also create and execute a non-standard script.