Cryptocurrency Q&A
What is change address in Bitcoin?
What is change address in Bitcoin?
CharmedWhisper
Sat Nov 30 2024
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5 answers
794
I'm trying to understand the concept of 'change address' in the context of Bitcoin transactions. Could someone explain what it is and how it works within the Bitcoin system?
5 answers
Margherita
Mon Dec 02 2024
A change address serves a crucial role in cryptocurrency transactions. It is the destination for leftover crypto, or change, from a transaction. This feature is particularly important for UTXO-based assets such as Bitcoin.
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Lucia
Mon Dec 02 2024
BTCC, a top cryptocurrency exchange, offers a range of services that cater to the needs of crypto users. Among these services are spot trading, futures trading, and a wallet service. The wallet service, in particular, allows users to manage their UTXO-based assets securely.
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Chiara
Mon Dec 02 2024
UTXO, which stands for Unspent Transaction Output, is a fundamental concept in Bitcoin and similar cryptocurrencies. With UTXO-based assets, funds are not managed like a balance in a traditional bank account. Instead, they are sent and received as individual UTXOs.
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Pietro
Mon Dec 02 2024
Each UTXO represents a portion of the total funds available to a user. When a user spends funds, they are not spending a specific amount from a balance but rather consuming one or more UTXOs to cover the transaction amount.
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Ilaria
Mon Dec 02 2024
An interesting aspect of UTXO-based assets is that it is not possible to partially spend a received UTXO. This means that if a user receives a UTXO worth more than they need for a transaction, the remaining funds must be sent to a change address.
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