Analysis of the Bitcoin UTXO Set

  • Sergi Delgado-SeguraEmail author
  • Cristina Pérez-Solà
  • Guillermo Navarro-Arribas
  • Jordi Herrera-Joancomartí
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 10958)


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.



This work is partially supported by the Spanish ministry under grant number TIN2014–55243-P and the Catalan Agència de Gestió d’Ajuts Universitaris i de Recerca (AGAUR) grant 2014SGR-691.


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Copyright information

© International Financial Cryptography Association 2019

Authors and Affiliations

  • Sergi Delgado-Segura
    • 1
    Email author
  • Cristina Pérez-Solà
    • 1
  • Guillermo Navarro-Arribas
    • 1
  • Jordi Herrera-Joancomartí
    • 1
  1. 1.Department of Information Engineering and CommunicationsUniversitat Autònoma de Barcelona, CYBERCAT-Center for Cybersecurity Research of CataloniaBarcelonaSpain

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