Analysis of the Bitcoin UTXO Set

Abstract

Bitcoin relies on the Unspent Transaction Outputs (UTXO)
\nset to efficiently verify new generated transactions. Every unspent output,
\nno matter its type, age, value or length is stored in every full node.
\nIn this paper we introduce a tool to study and analyze the UTXO set,
\nalong with a detailed description of the set format and functionality. Our
\nanalysis includes a general view of the set and quantifies the difference
\nbetween the two existing formats up to the date. We also provide an accurate
\nanalysis of the volume of dust and unprofitable outputs included
\nin the set, the distribution of the block height in which the outputs where
\nincluded, and the use of non-standard outputs.