Blockchain vs UTXO (Unspent Transaction Output)

Blockchain is a digital ledger technology that records transactions in connected blocks, creating a permanent, transparent, and tamper-proof record distributed across multiple computers.

UTXO (Unspent Transaction Output) is Bitcoin's accounting model where each transaction creates discrete outputs that can be spent as inputs in future transactions, similar to physical cash where you receive specific bills as change rather than maintaining a running balance in an account.