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Bitcoin’s core features For a more beginner-friendly introduction to Bitcoin, please visit Binance Academy’s guide to Bitcoin. 3.1 Unspent Transaction Output (UTXO) model A UTXO transaction works like cash payment between two parties: Alice gives money to Bob and receives change (i.e., unspent amount). In comparison, blockchains like Ethereum rely on the account model. 3.2 Nakamoto consensus In the Bitcoin network, anyone can join the network and become a...