An account-based blockchain records state changes for individual user accounts rather than tracking unspent transaction outputs. This architecture maintains a global state, where each account possesses a balance and associated data, simplifying smart contract execution and complex state transitions. Transactions modify account balances directly, offering a more intuitive programming model for decentralized applications. This contrasts with UTXO-based systems, providing different implications for privacy, scalability, and transaction processing.
Context
Account-based blockchains, such as Ethereum, remain central to discussions regarding decentralized finance and non-fungible tokens due to their efficient handling of complex smart contract logic. Ongoing developments focus on scalability solutions like sharding and layer-2 networks to enhance transaction throughput and reduce fees. News reports frequently analyze their adoption rates and technical upgrades, which directly influence the digital asset market and developer activity. Debates often concern the trade-offs between their statefulness and the enhanced privacy characteristics of UTXO models.
A novel framework enables selective data disclosure and regulatory traceability in account-based smart contracts, advancing privacy for decentralized applications.
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